Finding an expat haven with inexpensive rentals

If you’re a cash-strapped retiree or you just want to live the simple life, there are places on the planet where rentals don’t cost an arm and several legs.

In the majority of expat hubs overseas, housing costs are the biggest drain on personal finances, taking large chunks out of the monthly budget. However, there are still expat havens where rents rarely cost more than $500 a month, leaving enough cash to enable you to enjoy your new life to the full. For retirees whose entire state pensions are little more than $500 a month, it’s still possible to find even cheaper properties in rural districts within easy reach of towns.

Penang Island in Malaysia is one example, with its capital George Town a charmingly historic reminder of the days when the country was a British colony. As a result, English is still widely spoken amongst its 700,000-strong population. Perennially popular as an expat haven for its beaches, variety of cultures, jungles and spectacular scenery, Penang is also well-equipped with stores selling Western food favourites as well as several malls. Apartment rentals in gated beachside communities with a great selection of amenities can be had for as little as $310 a month.

Cambodia’s beachside city of Sihanoukville is surrounded by undeveloped coastline, although the city itself is in a building boom attracting a high number of Chinese investors as well as tourists. For those looking for vibrant nightlife, an established expat community and reasonably-priced rentals, Snooky, as it’s known, is the place. Again, enough English is spoken to make getting around straightforward, and there’s a choice of apartments and villas at prices well within reach. For expats needing peace, quiet and an absence of casinos, the smaller towns of Kampot and Kep further down the coast are as yet largely unspoilt.

Portugal is often seen as a more expensive retiree destination, but its smaller towns still hold bargain rentals for those who don’t need or want to flash the cash. Figueira da Foz sits on the mouth of the Mondego River and is famous for its fishing trade as well as salted Norwegian cod. A dozen beaches, a quaint museum, a friendly expat community and a Mediterranean climate combine to attract retirees from several European countries. As regard rentals, a two-bedroomed condo with river and ocean views fetches around $393 a month, and the local fresh markets are great for home grown fruits and vegetables.