Have you fallen under Taiwan’s spell during a trip, or are you visiting for professional reasons? From the modern skyscrapers of Taipei to the lush landscapes of its islands, Taiwan leaves no one indifferent. Before you move there, Foyer Global Health shares a detailed guide to anticipating the expenses associated with your future Taiwanese life and answeres all questions you might have concerning the cost of living in Taiwan.
Overview of the average cost of living in Taiwan 2024
To live in Taiwan, a person needs a monthly budget of €1,100 on average. The cost of living for a family of four is around €3,400 per month. These amounts include rent, as well as shopping, healthcare, education and entertainment.
| Services | Prices |
|---|---|
| Average monthly salary | €1.680 |
| Rent for an apartment in downtown Taipei | €585 / month |
| Purchase price of an apartment in downtown Taipei | €11,400 / m2 |
| Petrol (1L) | €0.90 |
| One-way ticket (local transport) | €0.70 |
| Restaurant meal | €15 |
| Cinema ticket | €8.5 |
Taiwan’s official currency and exchange rates
Taiwan, officially known as the Republic of China (ROC), is an East Asian territory made up of several islands. Although China claims sovereignty, Taiwan functions as an independent state with its own government and, among other things, its own currency. Taiwan’s official currency is the new Taiwan dollar, symbolized “NT$” and abbreviated “TWD”.
Currently, 1 TWD is equivalent to 0.029 EUR. (Index as of October 26, 2024).
Housing in Taiwan
Taiwan’s real estate sector is quite diverse, with a wide choice between apartments, studios and houses, both furnished and unfurnished.
Renting in Taiwan:
When renting, expect a monthly budget of TWD 9,000 to 26,000 (EUR 260 to 750) for a one-bedroom apartment in the city center, and TWD 6,000 to 20,000 (EUR 175 to 580) on the outskirts.
Buying real estate:
If you’re planning to become a homeowner, expect a price per m2 ranging from TWD 110,000 to 500,000 (EUR 3,175 to 14,400) in the city center, and from TWD 80,000 to 300,000 outside the center.
These prices represent national averages. For expatriates who already know where to settle (or who are still hesitating), here’s a comparison of real estate prices in Taiwan’s main cities:
| Accommodation | Prices in Taipei | Prices in Kaohsiung | Price in Taichung | Price in Tainan |
|---|---|---|---|---|
| Rental Apartment (1 bedroom) downtown / month | 20,300 TWD (590 EUR) | 12,500 TWD (360 EUR) | 11,800 TWD (340 EUR) | 9,660 TWD (280 EUR) |
| Apartment rental (1 bedroom) outside city center / month | 15,000 TWD (430 EUR) | 8,300 TWD (240 EUR) | 9,100 TWD (260 EUR) | 6,000 TWD (175 EUR) |
| Average purchase price downtown / m2 | 400,000 TWD (11,500 EUR) | 150,500 TWD (4,350 EUR) | 198,000 TWD (5,700 EUR) | 90,880 TWD (2,630 EUR) |
| Average purchase price outside city centre / m2 | 200,000 TWD (5,750 EUR) | 90,000 TWD (2,600 eur) | 136,600 TWD (3,950 EUR) | 74,000 TWD (2 120 EUR) |
Added to this are monthly energy costs:
- Electricity per kWh: 2.94 TWD (0.085 EUR)
- Gas per kWh: 0.90 TWD (0.026 EUR)
Food in Taiwan
Shopping accounts for 40% of the monthly budget needed to live in Taiwan. Food is a major item of expenditure and to give you a better idea of the costs involved, here are some examples of prices charged in local supermarkets and markets:
| Food | Average price in Taïwan (in Euros) |
| Bread (500 g) | €1.80 |
| Eggs(12 pieces) | €2.60 |
| Local cheese (1 kg) | €13.60 |
| Chicken fillets (1 kg) | €8 |
| Red meat (1 kg) | €17 |
| Tomatoes (1 kg) | €2.95 |
| Onions (1 kg) | €2 |
| Potatoes (1 kg) | €2.60 |
| Bananas (1 kg) | €1.90 |
| Apples (1 kg) | €3.85 |
| Milk (1 L) | €2.80 |
| Water (1,5 L) | €1.05 |
Transportation
Travel costs in Taiwan depend on the means of transport used.
Drivers can travel by car in Taiwan, knowing that highways are free and that a liter of gasoline costs 31 TWD (0.90 EUR) on average. The country boasts an extensive public transport network at a wide range of prices:
Train: the rail network is well-developed, and the TGV serves the main cities. Starting prices are TWD 40 (EUR 1.15), rising to TWD 1,530 (EUR 44.20) for long-distance journeys, such as Nangang – Zuoying (distance 360 km).
Subway: in Taipei, you can travel by subway for an average fare of 20 to 45 TWD (58 to 1.30 EUR) per ticket.
Bus: the average cost of a single bus journey is TWD 15 (EUR 0.43).
Cab: for cab journeys, the basic fare is TWD 85 (EUR 2.45), with an additional charge of TWD 25 (EUR 0.72) per kilometer.
By boat: there are over 160 ferries linking the Taiwanese islands. Again, the cost depends on the distance, with a starting price of around 30 new Taiwanese dollars.
Health costs in Taiwan
Here’s an example of average prices for health care in private establishments (clinics, hospitals, etc.) in Taiwan:
| Medical services | Average price in Taiwan |
|---|---|
| Doctor’s consultation | 1,500 TWD (€43.30) |
| Online consultation | 6,000 TWD (€173) |
| Overnight stay in a hospital room | starting from 4,000 TWD (€115) |
| Teeth scaling | 1,200 to 3,000 TWD (€35 to €87) |
| Delivery of a baby | 48,150 TWD (€1,390) |
Taiwan’s healthcare system is ranked 4th best in the world. The healthcare system in Taiwan relies on modern, efficient infrastructures, as well as universal coverage thanks to the National Health Insurance (NHI), accessible to both Taiwanese and expatriates. As in many countries, the system’s minor weakness lies in waiting times, which can be lengthy. To avoid this problem, some expatriates opt for international health insurance to ensure rapid access to care.
Education in Taiwan
Taiwan’s education system is also considered among the best in the world. Young children can attend a private kindergarten for a monthly fee of TWD 17,000 (EUR 490). For a national private school, the annual fee is TWD 471,000 (EUR 13,600).
French-speaking expatriates can also send their children to French schools such as the Lycée International Français de Taipei. Here are the school’s annual fees:
- Registration fee: TWD 51,500 (EUR 1,490)
- 5th and 6th grades: TWD 432,600 (EUR 12,480)
- CM2, CM1, CE2,CE1, CP: 371,400 TWD (10,720 EUR)
Telecommunication services in Taiwan
Telecommunication costs for one person in Taiwan are around TWD 1,455 (EUR 42) per month. On average, the following prices apply:
- Mobile package (calls and 10GB data): TWD 740 (EUR 21.35)
- Internet subscription (60 Mbps and unlimited data): 710 TWD (20.50 EUR)
Leisure in Taiwan
After a hard day’s work, Taiwanese know how to relax and enjoy life. Expats also have plenty to keep them busy, with a multitude of activities to discover:
- Go karaoke in town (a must in Taiwan!): NT$350 (EUR10.10) / hour for a group of seven.
- Climb the Taipei 101 Observatory: NT$600 (17 EUR) / ticket.
- Visit the National Palace Museum: NT$350 (10.10 EUR) / ticket.
- Taipei Zoo: NT$100 (2.90 EUR) / admission.
- See a film at the cinema: NT$300 (8.65 EUR) / ticket.
- Dining out: NT$1,000 (28.90 EUR) for two people.
- Take out a gym membership: NT$1,140 (33 EUR) / month.
Cost of living in Taiwan compared with China
The cost of living in Taiwan, including rent, is 32% higher than in China. On average, a person needs 800€ to live in China, compared with 1,100€ in Taiwan. This difference is partly due to the price of food in Taiwan, which is 65% lower in China.
The cost-of-living gap is also apparent when comparing capital cities, although it is less marked. Living in Taipei is on average 10% more expensive than living in Beijing.
It’s worth noting that the average monthly wage in China, at around €850, is lower than in Taiwan, but this Chinese average conceals major disparities between provinces and between the big cities and the countryside.
Cost of living in Taiwan compared with Western European Countries
If you live in Western Europe and would like to know the real price differences with living in Taiwan, you should know that living in Taiwan costs about 30% less, including rent. Housing, shopping, leisure activities, monthly services …all Taiwanese expenditure items are more affordable than in Western Europe. Here are a few examples:
- Renting a small downtown apartment: €420 in Taiwan versus €700 – 2000 in England.
- One-way fare on local transport: €0.70 in Taiwan versus €1.80 in England.
- Chicken fillets (1 kg): 8€ in Taiwan versus 13€ in England.
- Monthly budget for a private kindergarten: 480€ in Taiwan versus 700€ in England.
- Cappuccino in a café: €2.65 in Taiwan versus €3.50 in England.
However, purchasing power is higher in the UK, with an average salary of €3,500, compared with €1,680 in Taiwan.
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