Costs are broadly similar — roughly £1,650/month for a couple in Philippines and £1,700 in Vietnam.
Cost of living, side by side
| Philippines | Vietnam | |
|---|---|---|
| Modest (couple/mo) | £1,000 | £1,100 |
| Comfortable (couple/mo) | £1,650 | £1,700 |
| Premium (couple/mo) | £2,700 | £2,900 |
Indicative monthly estimates for a couple — real costs vary by location, lifestyle and exchange rates.
Philippines: Foreigners can own a condominium unit outright (freehold) as long as foreign ownership across the building stays within the 40% cap, but cannot own land directly. Land is instead held through a long-term lease (recently extended up to 99 years for qualifying projects) or via a genuine majority-Filipino company.
Vietnam: Foreigners can own apartments (with ownership-term limits); land itself remains state-owned.
Philippines: The Special Resident Retiree's Visa (SRRV) is the main route; since a 2025 overhaul it opens from age 40 with a bank deposit (from roughly US$15,000 for pensioner applicants aged 50+, more for younger or non-pension applicants) plus proof of income.
Vietnam: Longer-stay options are more limited than elsewhere in Asia — check current routes carefully.
Philippines: Private hospitals in Manila and Cebu are modern and far cheaper than in the West, and most expats use them; the state PhilHealth scheme is basic, so private cover is common — international plans from about US$1,000 a year, or cheaper local HMOs. Retirees enrolled through the retirement authority pay a modest annual PhilHealth fee of around US$250.
Vietnam: Major cities have good international hospitals (FV Hospital in Ho Chi Minh City, the Vinmec network) with English-speaking, often Western-trained staff at a fraction of Western prices; many expats keep international insurance (roughly £70-450 a month by age and cover) and may travel abroad for complex care.
Philippines: The Philippines taxes residents only on Philippine-source income, so a foreign pension is generally not taxed at all; retirement income remitted from abroad, and SRRV-holders' pensions, are explicitly exempt. It is one of the more tax-friendly bases for a pensioner, though your home country may still tax the pension.
Vietnam: Vietnamese tax residents (183+ days or a permanent home) are taxed on worldwide income on a progressive scale up to 35%, with relief under the UK-Vietnam double-tax treaty; there is no dedicated retirement visa, so residency and pension taxation both need professional advice.
Philippines: Tropical and hot year-round with high humidity; the dry season (roughly November-April, coolest December-February) is most comfortable, while June-November is wetter with typhoon risk. Famously warm and welcoming, with normal precautions against petty crime and some far-southern areas best avoided; English is an official language and very widely spoken, and driving is on the right.
Vietnam: Tropical but varied by region: the south is warm year-round with a wet season (May-October), the centre around Da Nang is driest and best from February to August, and the north has a cooler winter. Vietnam is very safe with low crime and welcoming to foreigners, though English is less widely spoken outside cities; traffic is intense and driving is on the right, so many retirees avoid driving themselves.
Philippines: For the buyer, one-off costs are roughly 4-5% — documentary stamp tax of 1.5%, transfer tax of 0.5-0.75%, plus registration and notary fees — while the 6% capital gains tax is customarily the seller's. Foreigners can own condominium units (not land), and title transfer through the Registry of Deeds takes some weeks.
Vietnam: Foreigners cannot own land, only apartments in approved buildings on a renewable 50-year leasehold (capped at 30% of a block); expect around 10% VAT (usually in the price), a 0.5% registration fee, a maintenance or sinking fund near 2%, and legal costs, with independent legal checks essential.
Philippines: Cebu for city amenities with beaches close by, Metro Manila for the widest choice of hospitals and services, laid-back Dumaguete for an affordable university-town pace, and Tagaytay for cooler upland air near the capital.
Vietnam: Da Nang for an affordable, laid-back beach city popular with retirees, Ho Chi Minh City (Districts 2/Thu Duc and 7) for the best hospitals and amenities, historic Hoi An nearby, and Hanoi for northern culture.
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