25 Of The World’s Cheapest Places To Live

Posted by on May 15, 2013

When the words cheap and inexpensive are thrown around, people may be a bit skeptical as to what they are applied to. You know what they say – “you get what you pay for”. While this is normally a justified position, price does not necessarily imply quality. This is especially true when it comes to choosing a place to live.  There are a great number of variables that goes into calculating the value of a place;  from a city’s policies to a city’s urban design.  These variables make delineating value from a city a little complex.  However, thanks to the Economist’s Intelligence Unit report, there is a list available ranking the top 25 of the world’s cheapest places to live.  Now the question is, would you live in any of these places?


Kiev, Ukraine

As Eastern Europe’s crucial center for industrial, educational, scientific and cultural development; Kiev boasts of a diverse means of economic sustenance since it doesn’t depend on just one industry. Although it is a middle income city and poverty is evident in other parts of the country; Kiev virtually has nonexistent slums which is pretty good for such an inexpensive place to live.


Bogota, Colombia

Bogotá is the most populous city in Colombia with 7,363,782 inhabitants as of 2010. Because of its numerous universities and libraries, Bogota became known as “The Athens of South America”. Other than that, it is also one of Latin America’s industrial centers. Because of it’s successful fight against its crime riddled image in the 90′s, multinational companies have built their regional operations here over the years.


Santiago, Chile

Formally called Santiago de Chile, this is the industrial and financial seat of the country. It is located in the country’s central valley at an elevation of 520 m (1,706.04 ft) above mean sea level.  Founded in 1541, Santiago has been the capital city of Chile since colonial times. Moreover, because of its steady economic growth over the past few decades, Santiago has been transformed into a modern metropolis. Consequently, Santiago  is now home to theater and restaurant scenes; extensive suburban developments; shopping centers; and a rising skyline which includes the tallest building in Latin America; the Gran Torre Santiago.


Johannesburg, South Africa

One of the 50 biggest metropolitan areas in the world, Joeys as it is sometimes called is a huge source for the gold and diamond trade, and is one of the world’s leading financial centers. Strangely enough, however, the cost of living is relatively low compared to other similar cities.


Mexico City, Mexico

Ciudad de Mexico or Mexico D.F.is a federal entity and not part of the 31 Mexican states belonging to the federation. Over time, this important financial center has evolved from a colonial territory of the Spanish empire to an independent and world class city. It still maintains it’s low cost of living, however, and if you can get past the crowds and smog you may find your wallet is a bit heavier here.