Cost of Living in Taiwan
Expats will find that the cost of living in Taiwan can vary depending on location and lifestyle choices - as is the case with most destinations. As most foreign nationals relocate to Taipei, this section will specifically cater to these city dwellers; it should be noted that rural living will be understandably less expensive.
Xpatulator.com assigns Taipei a high cost of living as compared with 300 expat destinations, but Mercer's cost of living index ranks this de facto capital of the Republic of China as 78th among 214 other popular expat cities.
To give a clearer indication, while Taipei may inspire the highest cost of living in Taiwan, it is still far cheaper than regional competitors like Beijing, Seoul, Singapore, and Hong Kong.
Expat executives expecting high-end housing will find that the Taipei rental market is surging, and that real estate can be incredibly expensive as rates continue to rise. Forbes magazine recently ranked the city 16th in the world when it comes to average monthly rent, estimating US$1,065 for a high-end, two-bedroom apartment.
Alternatively, there is still a cheaper housing market available outside of the city centre and away from the international schools; not to mention flat share is fully available and a great way to bag a bargain.
The cost of healthcare is another factor that can wear an expat's wallet thin. Though national health insurance is mandatory after four months in Taiwan, without your national health card costs can triple in many situations. Furthermore, private insurance rates can be daunting; albeit, necessary.
Food and alcohol costs, especially if expats are willing to forego their beloved homeland brand names, are cheap. Street vendors and sit-down restaurants both offer tasty treats at very reasonable prices; and as always its easy to balance a budget by cooking cost-effective fresh meals.
Transport costs are moderate.
Many expats that move to Taiwan are fully capable of having a good quality of life and putting away a few bucks in the bank as well; but again, cost of living is subject to personal priorities and can go either way.
Xpatulator.com assigns Taipei a high cost of living as compared with 300 expat destinations, but Mercer's cost of living index ranks this de facto capital of the Republic of China as 78th among 214 other popular expat cities.To give a clearer indication, while Taipei may inspire the highest cost of living in Taiwan, it is still far cheaper than regional competitors like Beijing, Seoul, Singapore, and Hong Kong.
Expat executives expecting high-end housing will find that the Taipei rental market is surging, and that real estate can be incredibly expensive as rates continue to rise. Forbes magazine recently ranked the city 16th in the world when it comes to average monthly rent, estimating US$1,065 for a high-end, two-bedroom apartment.
Alternatively, there is still a cheaper housing market available outside of the city centre and away from the international schools; not to mention flat share is fully available and a great way to bag a bargain.
The cost of healthcare is another factor that can wear an expat's wallet thin. Though national health insurance is mandatory after four months in Taiwan, without your national health card costs can triple in many situations. Furthermore, private insurance rates can be daunting; albeit, necessary.
Food and alcohol costs, especially if expats are willing to forego their beloved homeland brand names, are cheap. Street vendors and sit-down restaurants both offer tasty treats at very reasonable prices; and as always its easy to balance a budget by cooking cost-effective fresh meals.
Transport costs are moderate.
Many expats that move to Taiwan are fully capable of having a good quality of life and putting away a few bucks in the bank as well; but again, cost of living is subject to personal priorities and can go either way.
