Southeast Asia has long been a favourite destination for retirees from the west. With a limited pension, living the golden years out to their full potential with the lifestyle you’ve dreamt of is much easier in an affordable, low budget climate. Cambodia was recently placed at the top of the best 5 places for Americans to retire. Followed by Nicaragua, Peru, Columbia and Vietnam the Kingdom of Wonder’s attraction lies in its ancient historical beauty, tropical climate and extremely favourable living costs.
In 2019 with a full score of 100, Cambodia placed top of the ‘Cost of Living’ category for the International Living’s Annual Global Retirement Index. This was the 4th year in a row it took the position, and with expats flocking to the region to snap up the cheap real estate it’s easy to see how the position has been held.
Retirement in Cambodia allows for a luxurious and comfortable life with just a single-person unit costing as little as $300, with more impressive abodes up to $1000. The price of food is well below international averages and there’s always a wide variety of international and local cuisine. A quality meal for two in a high-end restaurant averages between $10-£25. With transport costs also relatively cheap, expats report comfortable living costs between $1000-$1500 per month.
Life in Cambodia is pretty laid-back. The majority of Khmer people, which make up about 90% of the population of Cambodia recognise Buddhism as their religion and as such it is in their very nature to live a peaceful, spiritual life. Forever sporting a smile, the Khmer people are an incredibly friendly, social and a helpful bunch often coming to the aid of those needing help and working together to find solutions to problems.
The rich local culture has marginal French influence from the colonial days, this is reflected in both the architecture and food as well. There are many ancient temples dotted throughout the country, some incredible markets to wander and hundreds of miles of green mountains, forests, incredibly preserved coastlines and many unspoiled islands to explore.
With major investments into transport links from China’s One Belt initiative and the ever-increasing investment in the tourism industry supported heavily through FDI, Cambodia is gaining economic strength. All economic indicators point towards a continuation of the upward trend in property prices, and with the investment in special tourist areas across the region, for those looking to invest in Cambodian real estate finding the hidden gems could see a valuable ROI through either rental yield (currently averages around 8%), or capital growth.
The current climate in Cambodia suggests there has never been a better time to consider the country for your foreign investment ventures. As tourism and real estate continue to boom the trend is expected to continue well into the new decade, with new airports, seaports and special tourism zones all currently under construction, it’s easy to see how economic predictions are extremely promising for this Southeast Asian jewel.