Da Nang among cheapest places in Asia for retirees

High-rise buildings along the coast of Da Nang City in central Vietnam. Photo by Kim LienDa Nang ranked second in a list of Asia's five cheapest destinations to retire for foreigners with a monthly average cost of living for expats of US$867, according to a recent report.

Thailand's Chiang Mai topped the list with the average cost of living at $667 a month, according to GOBankingRates, a personal finance publication run by Nasdaq.

The Philippines' Cebu ranked third where the monthly average living costs stood at $840, followed by Taiwan's Taipei at $1,268, and Japan'’s Kyoto at $1,565.

"Da Nang offers pristine beaches, scenic mountains, a warm climate and modern amenities. With its affordable housing options, excellent healthcare facilities and growing expat community, Da Nang is a no-brainer," the U.S. publication said.

Da Nang, home to 1.2 million people, is considered Vietnam's third most important city after Hanoi and Ho Chi Minh City.

In 2018, Panama-based travel magazine Live and Invest Overseas named Da Nang as one of the world's most livable cities.