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Cheap rental homes overseas for retirees

Melbourne, Australia © Gordon Bell/
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Over the past decade, the migration of retirees to places overseas has contributed to rising housing markets in several retiree-friendly hot spots around the world. As a result, homes in several developing nations have reached prices comparable to those in the U.S. With the cost of homes climbing, some retirees are choosing to rent abroad rather than buy.

Renting in retirement has a number of advantages. In addition to affording greater flexibility, renting has become cheaper than buying in many markets, according to Dan Prescher of International Living magazine. “We’re seeing more and more people rent instead of buying because it’s actually more cost-effective,” Prescher says. “Plus, if you discover you don’t like where you’ve wound up, you can just move, whether it’s across town or to a whole new country.”

With rental homes heating up around the world, bargains are getting harder to find. Read on to discover five markets where quality and value are still easy to come by.