Cost Of Living In Colombia

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Cost Of Living In Colombia

Reviewed by Lief Simon

Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

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Colombia offers a premium lifestyle at a not-so-premium price. The cost of living in Colombia is likely to be much less than you are used to back home.

Many expats estimate their monthly expenses are roughly 50% to 60% of what they were before making the move to Colombia.

The cost savings are not just for residents either, as many tourists find food, accommodations, and travel expenses to be lower than most anywhere in South America.

The low cost of living in Colombia is one of the most attractive aspects drawing in retirees.

Whether you are on a social security income and need to stretch your retirement dollars or your looking to live out your savings in a life of luxury, you can live a happy retirement in Colombia.

Everything from groceries to prescriptions are likely to cost much less in Colombia.

Exceptional health care is another reason retiring in Colombia is so alluring. For example, costs for procedures can be 50% to 90% less than for comparable procedures performed Stateside.

Personal spending habits can vary drastically, but the following sample is based on a two-person household living a comfortable expatriate lifestyle (not lavish, but not too meager. However, it is assuming that your own your home and car outright.

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Average Monthly Budget For A Couple Living In Colombia

Cost Of Living In ColombiaMonthly Budget In COP
Food (Groceries)COP720,460
Electricity (750kwh avg.)COP70,000
WaterCOP95,000
Gas (Household)COP35,000
Cable TelevisionCOP60,000
Internet, TelephoneIncluded In Cable
Entertainment (Dining, Movies, Bars, Etc.)COP825,000
RentCOP1,500,000
Monthly totalCOP3,305,460.

Click here for currency conversion at today’s exchange rate.

Of course, much better prices in cost of living and real estate can be found in specific parts of this South American country.

Read more: Medellín, Colombia: The Cheapest Real City In The World

Colombia - FAQs

Does Colombia Have A Temporary Visa?

Colombia has a temporary visa. To get it, you will need to provide proof that you have accepted a job in Colombia. Colombia visas for temporary work are issued for a two-year term.

Once your work visa is approved, you will need to register for your Colombian foreign identification card. There are 14 classes of the temporary work visas.

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