Cost of living and prices in Taiwan, prices of food, rent, shopping, etc 🇹🇼 Updated Jul 2023
Taiwan, a beautiful and prosperous island country in Eastern Asia, covers an area of 35,980 square kilometres and has a population of over 22 million. With a population density of 636.31 people per square kilometre, Taiwan's official language is Chinese.
In terms of its economy, Taiwan boasts a Gross Domestic Product (GDP) of $484.7 billion and GDP per capita of $21171. The country's currency is the New Taiwan dollar, and its top-level domain is .tw. Taiwan shares borders with the People's Republic of China to the west, and Japan to the north and east.
In recent years, Taiwan has emerged as a popular destination for expats looking to enjoy a high standard of living at an affordable cost. While the cost of living in major urban centers like Taipei is higher than some areas of the country, Taiwan overall boasts a relatively low cost of living, making it a popular choice for students, professionals, and retirees alike.
The affordable cost of living in Taiwan is reflected in lower housing, utility, and food costs compared to other Asian countries. Despite the relatively low cost of living, Taiwan boasts some of Asia's best healthcare, along with robust public transportation systems and excellent internet connectivity.
Cost of Living Estimate in Taiwan
You can calculate cost of living in Taiwan by changing quantity using input near each good or service. Resulting total will appear in a floating box in the bottom of your screen.
Taiwan is a food lover's paradise. Visitors will be spoiled for choice with its vibrant culinary scene, which offers a combination of flavors from Chinese, Japanese, and Taiwanese cuisine. There are numerous dining options available for travelers, ranging from high-end restaurants to street food markets. Street food in Taiwan is particularly famous, and it is a must-try for anyone visiting the country. The street food markets are filled with various delicacies, including stinky tofu, bubble tea, and pan-fried buns. There are also night markets such as Shilin Night Market, Raohe Night Market, and Ningxia Night Market which provide fun-filled dining experiences. For those looking for upscale dining options, there are plenty of restaurants representing different international cuisine. Some of the restaurants offer spectacular views of the cityscape, making it the perfect place for romantic dinners and special occasions.
Taiwanese people are passionate about food and can be quite fussy about the quality. The locals use fresh and high-quality ingredients to create delicious dishes and drinks, and Taiwan is the land of authentic tea shops. Tea is an integral part of the culture in Taiwan, and there are plenty of tea shops available throughout the country. Some of the tea shops are famous for their milk tea, which is a favorite beverage among the locals. Apart from that, there are also traditional Taiwanese dishes that travelers can try, such as beef noodle soup, oyster omelets, and the famous guabao, a Taiwanese-style steamed bun. These dishes can be found in most of the restaurants and street food markets around Taiwan. Overall, Taiwan is a haven for foodies, and visitors can enjoy a gastronomic journey filled with delightful experiences.
Market prices in Taiwan vary depending on the product or service being offered. In general, prices for daily necessities such as food and household items are quite reasonable, while prices for luxury goods can be quite high. Taiwan is known for its night markets, where many different types of food and goods can be purchased at reasonable prices. It is important to bargain for goods at these markets, as prices can often be negotiated.
The cost of living in Taiwan is relatively affordable compared to other developed countries. However, some big-ticket items such as housing and cars can be quite expensive. Salaries in Taiwan are also lower than in many Western countries, which can make it difficult for some people to afford certain luxuries. It is important to research the market before making any significant purchases in Taiwan, as prices can vary widely between different sellers and locations.
Taiwan offers a variety of transportation options that are convenient, efficient and affordable. One popular option is the Mass Rapid Transit (MRT) system, which is a network of subway trains that can take you to almost any destination within major cities. The trains are clean and comfortable, and the stations are equipped with clear signs and announcements in English. The MRT system is also connected to the Taiwan High Speed Rail, which can take you to different cities in Taiwan at high speeds.
If you prefer to explore Taiwan's natural beauty by land, you can rent a bicycle or scooter and ride along scenic routes. Bicycles can be rented at most parks and tourist attractions, while scooters can be rented at various shops. Riding a bicycle or scooter is a great way to experience Taiwan's local culture and scenery, as you can stop and explore at your own pace. Just be sure to wear a helmet and follow traffic laws!
Utilities Per Month prices
Utilities cost in Taiwan can be substantially higher than what travelers may be used to in their home country. This is due to the country's limited resources and high demand for energy. As a result, visitors may find that their accommodations are more expensive than expected, as it is common for utilities such as electricity, gas, and water to be included in the rental price. Travelers should also be aware that air conditioning usage, particularly during the summer months, can significantly increase their overall utility costs. It is important for visitors to budget accordingly and be mindful of their energy consumption while traveling in Taiwan.
One notable exception to the high utilities cost in Taiwan is public transportation. The country boasts an extensive and affordable public transportation system, including buses, trains, and subway lines. In fact, the cost of public transportation in Taiwan is often considerably lower than in other major cities around the world. Travelers should take advantage of this by utilizing public transportation as much as possible, not only to save on costs but also to experience the local culture and efficiently navigate the city. By prioritizing public transportation and being conscious of energy consumption, visitors can enjoy a comfortable and sustainable trip to Taiwan.
Sports And Leisure prices
Taiwan offers a wide variety of sports and leisure activities for travelers looking for an adventure. The island is known for its incredible hiking trails, offering breathtaking views of the ocean and the mountains. You can take a trip to Taroko Gorge, a stunning natural reserve that boasts spectacular cliffs, waterfalls, and hiking trails. The island is also known for its hot springs, where you can relax and rejuvenate your body after a long day of exploring. If you're looking for a more adrenaline-pumping experience, try river tracing, which involves climbing, swimming, and jumping through rivers in the scenic countryside.
Taiwan's passion for sports is evident in its love for baseball and basketball. The island is home to several professional baseball teams, with the Chinese Professional Baseball League being the most popular. You can catch a game and enjoy the electric atmosphere of the stadiums. Similarly, basketball is also a popular sport in Taiwan, and you can watch the local teams face off against each other in exciting matches. For those interested in martial arts, Taiwan offers classes in traditional Chinese martial arts such as Taiwan-based Taichi and Baguaquan. You'll also find modern fitness gyms throughout the island, offering classes and equipment for all your workout needs. Whatever your interests may be, Taiwan offers a wealth of activities for travelers to enjoy.
Salaries And Financing prices
When it comes to salaries in Taiwan, it is important to note that different industries and professions may have vastly varying pay scales. However, in general, the cost of living in Taiwan is relatively low compared to other developed nations. This means that expats and travelers may find their money goes further than expected, allowing for a comfortable lifestyle without the need for a high-income job. Additionally, for those interested in working in Taiwan, it is worth noting that many companies offer competitive salaries and benefits packages to attract top talent.
Financing in Taiwan is relatively easy to manage, as the country has a robust banking and financial system. This includes both local and international banks, as well as online banking options and ATMs. Credit cards are widely accepted, and travelers can take advantage of favorable foreign exchange rates when converting currency. In addition, while there may be some cultural differences in terms of how financial transactions are conducted, expats and visitors should find it easy to navigate the banking system and manage their finances while in Taiwan.
Childcare prices in Taiwan are relatively high compared to other countries in the region. One major contributor to these prices are the schools. The schools in Taiwan are well-equipped and provide a range of services for their students which include extracurricular activities, specialized classes, and a strong curriculum that focuses on core competencies. The schools also provide a range of options for parents to choose from - from public to private - which in turn affects the price a parent will pay for their child's care.
Kindergartens in Taiwan, on the other hand, offer a unique alternative to formal education. They are known for their play-based learning curriculum which is meant to foster creative thinking and teamwork among young children. Unlike schools, kindergartens are less formal and cost less. However, they still offer a high level of care and attention to their students. Additionally, the nature of kindergarten care is more flexible and parents are often given the option to choose a full-time or part-time program, depending on their needs and budget.
Clothing And Shoes prices
Taiwan boasts an impressive range of affordable clothing and footwear options for all budget ranges. For those seeking luxury items, upscale department stores offer a wide selection of high-end designer wear. Alternatively, street markets and night markets provide a more budget-friendly option where shoppers can haggle prices to score great deals on trendy clothing and shoes. Taiwanese fashion often blends traditional and contemporary elements, making for unique and stylish options.
Chain stores and shopping malls can be found throughout Taiwan, offering a more standardized and convenient shopping experience. These stores often carry a mix of both local and international brands to appeal to a wider audience. Additionally, there are numerous outlets and discount stores scattered across the island that offer bargain prices on clothing and shoes. With so many shopping options available, it's no wonder that Taiwan has become a popular destination for fashion enthusiasts from all over the world.
Rent Per Month prices
Short-term rent and stay options in Taiwan are plentiful and varied. From luxurious high-rise apartments to cozy studio units, there is something for every traveler's budget and preference. Many of these accommodations are equipped with modern amenities and are located in strategic areas that are easily accessible to public transportation, shopping centers, and tourist attractions. Whether you are visiting for business or leisure, short-term stays in Taiwan offer convenience and flexibility for your travel plans.
If you are looking for budget-friendly options, Taiwan also offers a range of hostels, guesthouses, and homestays. These are great options for backpackers and budget-conscious travelers who want to experience local culture and make new friends while exploring the country. Hostels and guesthouses offer shared accommodation and basic facilities, while homestays provide a more authentic experience by allowing you to stay with a local family. Prices may vary depending on the location and type of accommodation chosen, but there are plenty of affordable options to suit your needs.
Buy Apartment prices
Real estate buying options in Taiwan are diverse, with a range of properties on offer to suit different budgets and needs. Apartments and houses are the most common types of properties in urban areas, with prices varying depending on the location and size of the unit. Many new properties are being built in the country, especially in urban areas, catering to the growing demand for modern living spaces.
Taiwan's real estate market is characterized by high demand and limited supply, which makes it an attractive investment opportunity for those looking to enter the property market. However, prices can be steep in certain areas, especially in prime locations such as Taipei city. Despite this, the real estate market in Taiwan remains a sound investment option, with many first-time buyers choosing to purchase properties for their own use or as a means of generating rental income.