Chile is not the cheapest country to live in South America, but it’s considerably more affordable than most parts of Brazil. Over the past decade, Chile’s economy has grown faster than other South American economies, resulting in higher living standards and inevitably higher living costs.
Unlike neighboring countries like Peru and Bolivia, Chile’s cost of living is not related to the cost of living there. Make sure you have a sufficient budget if you plan on moving to Chile, as the cost of living is almost comparable to western countries. In Santiago, a salary of US$ 780 is challenging to live on, but Chile’s average wage is US$ 780. This guide is all about the cost of living Chile in detail.
Factors affecting the cost of living Chile
Cost of accommodation in Chile
As one of the cheapest countries in South America, Chile has affordable accommodations. Camping and hostels, apartments, and houses are among the types of accommodations available in Chile. On average, a hostel night costs about $10, while an apartment night costs about $50. There is a wide range of prices depending on the type of accommodations and the location, but overall, Chile has a meager accommodation cost.
Cost of food in Chile
There has been a significant rise in food and drink prices, among other areas. In Chile, a Big Mac costs $4.00, while in the US, a Big Mac costs $4.07. This index allows easy comparisons between the two.
According to different resources, Chile is South America’s fourth most expensive country for Big Macs after Brazil, Argentina, and Colombia.
The purpose of your trip to Chile isn’t to eat Big Macs! There is a lot of beef and chicken in the typical meals, a lot of rice and potatoes, and a lot of fresh vegetables that are primarily grown locally. Chile’s extended coastline may lead you to expect that seafood is joint, but that’s not the case.
Generally, fruits and vegetables at markets and supermarkets are cheap (if they are grown locally), but imported items like coke and beer are just as expensive as in Europe and America. In a café, a sandwich costs approximately 1,500 pesos (£1.80, €2, $2.70), while a beer (0.5 liters) costs about the same. You can expect to pay at least 8,000 pesos for a meal in an average quality restaurant (about $13, $10, $15), which is reasonable compared to Europe, but not very inexpensive if you’re on a tight budget. Regarding eating in South America, the capital city (Santiago) is the most expensive, but there are always affordable options on the street if you want to cut costs.
Cost of Transportation in Chile
Depending on where you live and how you get around, your transportation costs may vary in Chile due to its large size and varied landscape. Traveling around Chile is generally quite affordable compared to most other countries. Public transportation is relatively inexpensive, and you have plenty of options for transportation, whether you ride a bus, train, or plane.
If you prefer, you can also take a taxi, and the costs are generally reasonable. A rental car might be a good option for you if you plan to travel around Chile a lot. The cost of renting a car is fairly reasonable, and you can explore at your own pace.
Cost of housing in Chile
A 120-square-meter apartment in Santiago will cost at least $ 541.60 a month. Santiago is a city where everything depends on where you live. You can shoot the cheapest shots in the center, which may surprise you.
In a good area of Providencia, a small apartment will rent for at least $ 700 per month. It is possible that this is due to the unsafe nature of the site. Rental properties in Chile cannot be rented by foreigners. Several documents must be completed, and a tax must be paid. Foreigners have a difficult time renting houses.
It costs approximately 120-150 dollars per square foot to buy a house in Pangipulli. Amount – $1083200. Additionally, there is inexpensive social housing – these are tiny houses with 60 square feet, with bony walls that make them cold. It will cost about $100,000 to rent an apartment in the province for 2-3 rooms. Meanwhile, apartments are being sold in Chile that has already been renovated and equipped with kitchens.
As with many cities, Santiago offers a wide range of prices, which are heavily influenced by the area in which you live. For example, a three-bedroom apartment in Providencia will cost about $243720.
As well as the peculiarities of the building due to frequent earthquakes, high real estate prices are explained by the peculiarities of the market.
Cost of sports in Chile
It will be a pleasure to know that sports and leisure activities are very affordable in Chile if you enjoy being outdoors and active. There are many free activities that you can participate in. There are many trails to explore in Chile, for example, making hiking a popular activity. If you’re looking for something more adventurous, rock climbing or mountain biking are great options. There are also some of the best skiing and snowboarding in the world in Chile.
Cost of taxes in Chile
A tax is based on an individual’s earnings. The answer is simple: a small salary means a small surcharge. 33% of income is subject to the highest tax rate. According to estimates, the minimum wage is approximately $500. In most cases, students pay between $ 500 and $ 800 per month depending on where they live, what faculty they belong to, and what university they attend.
Compared to European countries, Chile has an affordable standard of living. Chilean citizens earn an average salary of $ 900 per month.
It is estimated that Chileans earn $ 12,000 a year. After paying all monthly taxes to the government, this amount remains with the individual.
There is a minimum wage of $300. These services are available only to those without specialties in the population.
FAQs (Frequently Asked Questions)
To live comfortably in Chile, how much money do you need?
For a family of four living without rent, the estimated monthly costs are 1,999 dollars (1,800,905 Chinese yuan). Without rent, an estimated monthly fee for a single person is 569$ (513,162CL$). According to statistics, Chile’s cost of living is 44.08% lower than that of the United States. There is a 74.22% difference between the average rent in Chile and the average rent in the United States.
What is the standard of living in Chile?
The economy of Chile is the strongest, the standard of living is the highest, and poverty levels are the lowest in Latin America. Water can be accessed from any tap in the country, and high-speed Internet access, cable television, and telephone service are all available.
What is Chile’s status as a 2nd world country?
The Human Development Index ranks Chile 43rd in the world, despite its high-income economy. It leads Latin America in competitiveness, per capita income, and globalization, state of peace, and economic freedom rankings, making it one of South America’s most economically and socially stable nations.