Top 5 Countries to Retire in Asia

Korea isn’t a cheap place to retire in Asia by any means. Still, it undoubtedly has the best living standards compared to anywhere else on this list if cost isn’t an issue.

The Philippines

If you want to retire in the Philippines, there is a low cost of living, and it’s fairly easy to get a long-term visa.

Retirees in the Philippines must show a pension of at least $1,000 per month (roughly half of Thailand’s), and you also must be aged 50 or greater.

As a foreigner, you can own houses and condos in the Philippines on a freehold basis. Real estate is indeed expensive for the locals due to their low income, although remains comparatively cheap for most international property buyers.

There have been an increasing number of expats and retirees moving to the Philippines, so beach home developments are becoming very common.

The Philippine peso is relatively stable and is considered one of the better currencies in Southeast Asia; however, it is not as good as some of the other currencies we’ve mentioned.

While there are economic issues in the Philippines, including unemployment due to high population, bureaucracy, and limited infrastructure, the nation is growing rapidly.

The Philippines saw its GDP rise by above 7% annually on average over the past decade. Likewise, an ongoing process of urbanization will continue driving up demand in major cities such as Manila.

Medical quality is passable but isn’t as good as others on this list, including hospitals in Malaysia or Korea. Retirees should keep that in mind.

A few of the best hospitals in the Philippines include The Medical City, St. Luke’s Hospital Philippines Medical Center, and Manila Doctor’s Hospital.

Under PhilHealth, the government-owned and subsidized health insurance company in the Philippines, citizens can receive free healthcare too.

Yet besides its lower-end healthcare and extreme weather, the Philippines has a great standard of living.

Kind people, beautiful beaches, an international lifestyle, and affordable costs help the Philippines rank among the best countries to retire in Asia.

Cambodia

Much like the Philippines, Cambodia has a very low cost of living and its economy is growing quickly.

You’ll find it easy to get a long-term visa in Cambodia as a retiree, with applicants above age 55 only needing to show “proof to sustain themselves”, which is an open-ended and loosely interpreted rule.

And while individual foreigners can’t own land, they can own any other type of property legally. This means any condominium or office units.

Cambodia’s economy is still booming as well. With an average age of 25, Cambodia’s population is increasing and rapidly urbanizing.

These ongoing trends of migration from rural areas into the cities, and young people having children, will help naturally boost real estate values.

Depending on which part of Cambodia you want to live in, tourism is a huge part of the economy, so if you don’t speak Khmer, you shouldn’t have a problem in the main tourist areas.

In terms of currency, Cambodia is highly dollarized with most banking and major transactions done in terms of US dollars.

Cambodia also has its own currency, riel, which maintains a loose peg of 4,000 against the greenback.

Hospital quality in Cambodia is decent, but as in the Philippines, isn’t as good as other nations on this list. We would recommend it as the best low-cost option, or for those without a pension.

That said, you could find a private clinic or hospital in Cambodia, which usually have superior health care standards.

A few good private hospitals and clinics in Cambodia include the Pasteur Institute, Sovann Polyclinic, and Royal Phnom Penh Hospital.

There are plenty of retirees living in Cambodia, and the quality of life is good. The cost of living is very affordable, it’s a great location with access to other areas in Asia, and has a relatively safe environment overall.

If you’re choosing to retire in Cambodia, a few things to keep in mind are the nation’s constant humidity and the comparatively low-end infrastructure compared to places like Singapore or Malaysia.