Saturday, June 23, 2012
Philippines no longer the Best Place for Retirement
In a recent issue of CNN magazine, The Philippines was not included in the list of of top 4 places that US and Canadian retirees favorite destination for retirement. I am indeed wondering, since the standard of living, climate and several other advantages ( English speaking and friendly natives) in the Philippines are the best in the world.
Is the country's infrastructure, safety concerns ( Southern Philippines) and political corruption, the reasons why it was not listed as one of the best places in the world to retire? What do you think? The following are the four overseas places listed in the article published in the CNN magazine just recently.
1. Cuenca, Ecuador Population: 330,000 Starting home price: $75,000* 2011 price change: N.A.
These days overseas retirement has gotten so popular that Costa Rica is close to becoming a cliché. "This generation is more open-minded, better educated, better traveled, and healthier than any generation before it," says Kathleen Peddicord, founder of publishing group Live and Invest Overseas. Combine that with favorable foreign-exchange rates and a crisis that wiped out many nest eggs, she says, and "the idea is suddenly not so crazy anymore."
In recent years, Cuenca, Ecuador, has become a favorite of Peddicord and others as a retirement destination, and it's easy to see why. Cuenca offers temperate weather, beautiful architecture, and modern health care, all for a fraction of the cost of living in the U.S. and the national currency is the U.S. dollar. That opening-home-price figure, $75,000, is not a typo. Health care and property taxes are dirt-cheap too.
The coastal city is currently home to a few thousand expat retirees, mostly from the U.S. and Canada. New arrivals can choose from one of the many new condo developments or spring for a landscaped historic estate for $300,000. One thing to keep in mind: Ecuador is a developing country, and creature comforts like, say, American electronics are often either unavailable or command a premium. But for today's globetrotting, adventure-seeking retirees, that's part of the thrill.
2. Bangkok Population: 8.2 million Median home price: N.A. 2011 price change: N.A. With cost of living in Asia far lower than in the states, adventurous retirees are heading to Thailand for deals.
3. Panama City Population: 430,299 Median home price: N.A. 2011 price change: N.A. Decent infrastructure and friendly tax policies have made Panama's capital an expatriate favorite.
4. Paris Population: 2.3 million Median home price: N.A. 2011 price change: N.A. The City of Light is pricey, but rich in both culture and health care.
In a recent posting from CNBC, ten places to retire based on the cost of living, housing costs, health care (both quality and accessibility), cultural and recreational options and if there’s already an expat community there, the Philippines was not also in the list. In this list includes the following places arranged in alphabetical order: Buenos Aires( Argentina), Corozal (Belize), Central Valley, Atenas( Costa Rica), Languedoc-Rousillo (France), Le Marche (Italy), Puerto Vallarta (Mexico), Granada ( Nicaragua), Boquette ( Panama), Cascais (Portugal) and Costa del Sol (Spain).