9 of the cheapest places to rent and work in the world

Sorry for the wait for this blog post. Between going to Kuala Lumpur to renew my visa and actual work I’ve been run ragged. So the good news is Virtual Demon is set for a change in direction. I have already started to assist SME’s in the property sector. I’ve worked in the property sector before and I’ve always had an avid interest in what happens there. It’s something that effects everyone around the world.

So following on from my last post about changing careers I’m looking to change the topic focus here to look at the wonderful and sometimes rather messed up world of property. Starting with a look at the rental market. One of the reasons for getting out of the UK was how expensive renting in the UK has become. It’s nearly the same price as getting a mortgage which is why a lot pf people say that you are throwing your money down the toilet when you are renting and you should get onto the property ladder as quickly as possible. Probably repeating what their parents and financial advisers have told them and if you live that kind of life then please carry on. But I don’t live that kind of life and I love being flexible and not being literally tied down to your home.

                                    Cheapest places to rent in the world

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Some of these are from my own experience. Some of these are from articles that I have read or advice passed on from other people. It’s nice to have a look at what you can get elsewhere for your money. I have not purposely gone into too much detail about the places themselves as most have some pretty strict visa laws but that’s for someone else to discuss.

  1.  Thailand

 

Of course the perennial back packer’s paradise and home of the digital nomad. Everyone and his dog seems to come here at some point if they have an interest in travelling or retirement. I’m here so it must be good, right. Of course as with anywhere location is key and if you go up north away from the tourist, beach resort type places then you will be able to find a very good standard of rental accommodation at 3 times less the price than you would pay in the UK. Food is of course great and cheap. For the price of a Tesco meal deal you can eat very well. The infrastructure is for me just about good enough, Wi-Fi in certain places is just as strong as in the west. But be prepared for bugs, blackouts and interesting bathroom solutions.

  2.  Vietnam

 

Continuing our Asian theme we have a look at Vietnam, you’re probably going to be looking at Ho Chi Minh city as a base and then going to explore from there. You’re looking at similar or slightly more expensive than Thailand in terms of rental price. As with Thailand, if you keep to the local based rice and noodles diet you’ll be eating ridiculously cheaply in my opinion. As with Thailand eating out is better and cheaper too. Again infrastructure wise I’ve heard the Wi-Fi is decent enough for digital nomads to give it a go and no one wants to wait around for an eternity whilst their blog uploads!

  3.  India

 

As with the two above if you’re coming straight from a first world country you may want to stick to one of the bigger cities first such as Mumbai or Bangalore where there is a lot of investment and a touch of home is not too far away. Otherwise get up north again where the rent is even less than Thailand and food is possibly cheaper still. In terms of the scene for those digital roadies, again your best bet is to stay near the cities as out in the sticks you might find it harder just to get a telephone signal. I’ve got a feeling it’s more for those that really want to get lost type adventurers and retirees that have chucked their tech in the river.

  4.  Nicaragua

 

Unfortunately, I’m not too familiar with this part of the world but it looks amazing and another place on my hit list. Rent seems similar to India here so pretty much as cheap as you can get it. Apparently you’ll find lots of Americans there as its cheap and easy to get to. Getting around is really cheap and again it’s another place where you can eat out like a king every day and not feel you need to burn a hole in your credit card to do so. For the digital traveller I’m not sure what the Wi-Fi is like but if you stick to the resorts and hotels it will be better.

  5.  Nepal

 

Everyone says this is the out and out winner in terms of a cheap place to live. So everything is really cheap right. Yes, the rent is half of what you pay in India. It follows then that the food and cost of transportation is equally as amazing. But there are some draw backs. Even though the Wi-Fi will come at a great price I’ve heard it’s not the best connection and with the frequent power cuts you could be disconnected from the world for a fair bit of time in some cases.

  6.  Panama

 

Seems to me more like a retirement haven for American’s but I may be wrong. The reason I say this is yes, it is a cheaper place to live if your outside of the capital city and the little things like travel and food are inexpensive compared to a lot of places. You also will have good infrastructure here. Healthcare is really cheap here compared to what you would pay for it in the states. The residency rules for retirees are straightforward and it’s already pretty close to the states. So I think it’s ideal for a visit if you’re not thinking of retiring or a longer stay if you are.

  7.  Guatemala

 

As per Nicaragua really another place on the hit list. Apparently it’s the largest country in central America. Looks to be cheaper than Panama. Monthly rent in the region of £270-£280. So very similar travel and food costs to both Panama and Nicaragua and maybe without the stigma of being a retirement home. Not sure what the infrastructure is like here.

  8.  Malaysia

 

Somewhere I’ve been to recently and will be going back to as there is just too much to see in one short trip. As you can tell I quite like Malaysia, its’ not as cheap as Thailand and the other South East Asian places listed here in terms of renting. For a decent condo in either Penang or Kuala Lumpur you’re probably looking at £300-£400 a month. But the food is great, the weather is incredible, there is a lot of stuff in English and they have British plug sockets there. Wi-Fi where I’ve been has been as strong as anyone could ask for. I’ve also noticed just how clean and tidy the places I’ve been to seem to be.

  9.  Bali

 

Again another great place to visit but I don’t think it’s actually as practical to spend an extensive amount of time here as a digital nomad. Prices wise in Bali itself have gone up considerably given a certain film. But you’re still looking at similar prices to Thailand in terms of monthly rent, food and travel. The later even being a little cheaper as when I went there the pound was so strong that taxi’s didn’t cost more than a pound. But apparently its gets even cheaper than this in places like Sumatra. However, the infrastructure has a lot to be desired and running an online business can be tricky with not the best Wi-Fi in the world.

I hope this has been informative, interesting and you liked reading it.

That’s all folks this week but I’ll be back again next week. Please subscribe to my Virtual Demon blog and I look forward to your comments and feedback.