Retirement? For many Americans, retirement time is just around the corner. The prospect of trying to live on a pension, in old age is a daunting one. For some, moving to retire in another country such as
Mexico (for North Americans) , or
Portugal and
Spain ( for Northern Europeans) is an option which has been successful. But why not consider retiring in the
Philippines?
Over the last decade, the
Philippines has become a retirement haven for thousands of foreigners, particularly the
Japanese,
Korean, and
Northern Europeans. Along with
Thailand and
Malaysia, the
Philippines developed
communications,
infrastructure, and
service delivery systems specifically geared to meet the needs of
foreign retirees.
The principal appeal for retirement in the
Philippines is the lower cost of living. At present, the
Philippine Peso ( PhP) exchange rate is approximately PhP 53/40 to $1.00 . Housing,
food, and
labor costs are
quite reasonable. A two bedroom
condominium in one of the posh ” villages” in
Makati City costs about
$400 per month. and one can dine out on average at a
three star restaurant for less than $ 10. including tax and tip. If you plan to
hire domestic help, a private driver’s salary is approximately $ 200.- per month, while a
trained housekeeper will earn approximately $100.- month. These salaries are lower if you live in the provinces.
A
Japanese company will be building a medical facility in Tagaytay city exclusively for Japanese nationals within the year. There are now close to 10,000 Japanese retirees in the country, and the number is growing annually.
The British government recently acquired a large tract of land in Fort Bonifacio to build a large Embassy. The British ambassador explained that larger facility is meant to help serve the growing number of
British nationals retiring there as well. There are also Japanese and Korean investment groups buying homes and condominiums in
Manila, and tracts of provincial land for retirees. This has caused a mini- Real Estate boom in the country.
A retirement village exclusively for Japanese nationals already exists in Tagaytay, and more are planned. These are strong indicators of what is on the horizon English is the
Philippines’ official business language. Most of the people you will meet, from hotel workers, taxi drivers, sales or service people, government employees— speak English, or have a working understanding of it. The middle class speak English, without exception.
“Smile at Life in the Philippines.” This is our invitation to our former Filipino citizens and foreign nationals to choose the Philippines as their second home. Famous for our vibrant culture, hospitality, friendly English-speaking population, natural attractions, and tropical climate, retirees can expect the good life in the Philippines at an affordable cost.
Visit the land of fun, flowers, food, fruit, and friendly people. You might not want to leave it anymore. Mabuhay!
for more information visit the
www.pra.gov.ph website.
+632.828.8087
