Recently there have been several articles in the Australian media reporting on how popular it became to retire in Bali.
One of the key reasons presented is the lower cost of living compared to Australia and other Western countries were the monthly average living expense ranges between $2,940 to $4,268 USD per retiree.
So let’s see how this range compares to the average living expense in Paradise – the island of Bali!.
An important disclaimer is that it’s obviously depends on how a retiree wants to spend their time. Some people are happy living in a smaller house and cooking their own meals, while others will want to live in a large villa with a private pool and go out every night to eat in expensive restaurants.
Some costs will be the same wherever you live in Bali, such as gasoline ($2 per week if you drive a scooter – yes, just $8 a month) and basic food (such as fruits and bread – you can easily lunch for less than $5 USD with fresh juice), other things like rent and property, can vary greatly.
To get the retirement visa will cost you less than $800/year, you need to be more than 55 years old and to show proof of an income of at least $1,500 USD a month.
Accommodation is the big differentiator as you can rent or buy. But if you are thinking of retirement, you’re better off purchasing a Leasehold Villa that can be yours for the next 30-60 years. You can buy one as low as $75,000 USD and as high as $500,000 USD.
If you plan to live in a popular tourist areas, such as Seminyak, Kuta, Canggu or Sanur. You’ll need an average of $1,528 USD/ month if you want to keep a Western life (but it is also possible to live on $800 USD/month if you’re frugal).
If you live in center or north Bali such as Ubud, Amed, Singaraja or Lovina, you’ll be able to live on much less – an average of $1,092 USD (or $600 USD/month if you’re frugal). Property, staff and entertainment costs are generally cheaper in these areas.
Considering that the Australian pension is currently (2019) $2,022 USD / month for a single person, Australians can live on their pensions like kings and Queens while enjoying Paradise for free.