By Western standards, Thailand is considered an inexpensive place to live. Because of this fact as well as weather, health care and low crime rates, it has become a hot spot for seniors as a long-stay vacation area or even a retirement destination. The Thai unit of currency is called a baht. Exchange rates regularly shift up and down, but 35 baht is equal to approximately $1. One euro is equal to about 46 baht. A person can live very comfortably in Thailand for less than 800,000 baht ($22,800) a year.

Housing

A general rule of thumb for housing in Thailand is you can expect to spend about half of the amount you would in the states for the same kind of accommodations. A furnished, two-bedroom beachfront condo rental in a popular tourist areas like Pattaya or Hua Hin, with a pool, security and other similar amenities will run about 30,000 baht ($857) monthly. Property can be even cheaper to rent outside of big cities. Bangkok is the most expensive area of Thailand, but even so, it is much less expensive than in the West. It is typically difficult for non-Thai's to get a mortgage. However, it is possible to buy a place directly. A furnished, two-bedroom oceanfront condo with a lot of amenities runs about 5 million baht ($143,000), and similar places away from the ocean sell for half that.

Food

Food is also cheaper in Thailand. Local cafés or stalls charge about 30-100 ($1 to $3) baht for a meal. Nicer restaurants are slightly more expensive at about 100 to 200 Baht ($3 to $6) Thailand also has many well-recognized American chain restaurants like KFC, Subway, McDonalds and others. All will cost less than 200 baht per meal. Supermarkets that sell western food like Tesco and Big C are scattered around the country. They typically charge about half of what similar chains would in the U.S. 3000 to 6000 baht ($86 to $171) should easily cover monthly food expenses.

Activites

Another great thing about retirement in Thailand is the recreational activities available. Of course, the cost of these activities is low. Cruises, golf, sporting events, shows and concerts are all available typically for less than half the price in the West. For example, a dinner cruise on the Chao Praya river costs about 1050 baht ($30). A round of golf on an excellent course in Tak cost about 850 baht ($25). Obviously, all prices listed are approximate, but regardless, Thailand is an inexpensive place to retire.

Source:

Thaiwebsties.com: Cost of Living in Bangkok,Thailand

GuidetoThailand.com: Prices

Retirementthailand.info: Cost of Living