At the top of this year’s list is Ecuador. Low cost of living combined with strong real estate values, despite a slight uptick in prices in recent years, makes this equatorial nation International Living’s top destination for expat retirees.
All of Ecuador’s services and infrastructure–from public transportation to internet connectivity to available direct flights to the U.S.–receive strong marks from IL’s correspondents. If the country’s GDP continues to grow at 4.5% annually, as it has for 15 years, these positives will likely only improve.
Central and South American countries dominate the upper tier of this ranking, with Panama closely following Ecuador and grabbing attention with the “Pensionado Visa V +1.03% the country makes available to expats with a lifetime pension of $1,000 or more per month. Holders of the visa are entitled to deep discounts on medical services, on which they receive 20% off, as well as 50% off entertainment costs, 25% off perks like restaurants and air fare as well as the same discount for electric and phone bills.
Colombia comes in third, scoring big for access to high-quality, affordable healthcare. In fact, according to the World Health Organization, Colombia outranks the U.S. and Canada in health services.
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Malaysian real estate: Where the price is right.
Further down the list, Asia and Europe are strongly represented as well, with countries like the Philippines, Cambodia, Italy, and Ireland all making the cut.
Spain ranks as Europe’s most affordable retirement spot, while Malaysia provides incredible real estate values. Correspondent Thomas O’Neal noted his 1,600 square foot, centrally-located Penang apartment, which he rents for $850 per month–the kind of pricetag that could prompt many an American retiree to start packing their bags.