Cost of Living in Taiwan: A Guide on Expected Expenses

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Cost of Living in Taiwan: A Complete Guide

Taiwan is an East Asian country officially the Republic of China. It is located in the northwestern Pacific Ocean at the junction of South and East China. The average cost of living in Taiwan is around 89,787 NT$ for a family of four, while the average cost of living in Taiwan for a single person is 24,621 NT$ and this is without rent.

Taiwan is also a culturally rich country with something to offer everyone. It has world-renowned universities, affordable living and tuition costs, and various scholarships, and it is an ideal destination for students worldwide. If you plan to move here, ensure you know the cost of living in Taiwan. So, in this blog, we will show you the various expenses in the country, such as transportation costs, monthly rent, utility bills, grocery princess, and more. So, let’s begin our discussion without any further delay.

Also Read: Cost of Living in Cambodia: A Guide on Expected Expenses

Cost of Living in Taiwan

The average cost of living in Taiwan on a monthly basis for a family of four is 89,787 NT$, and is without rent, while it is 24,621 NT$ for a single person without rent. Let’s understand in detail the average cost of living in Taiwan in various individual categories

Transportation Cost in Taiwan

Transportation in Taiwan is very easy and accessible. It has excellent transport links, with a modern and developed metro system. Taiwan has a high-speed rail system called HSR trains, and other local modes of transportation are city buses. The monthly cost of transportation in Taiwan is 1200 NT$ which comes under the overall cost of living in Taiwan. Further, to know the transportation costs in Taiwan, we have given some costs in the table below:

Mode of TransportApprox. Monthly Cost
Price of a One-way Ticket for Local Transport24.00 NT$
Monthly Pass (Regular Price)1,200.00 NT$
Cost of Taxi 1 km (Normal Tariff)25.00 NT$
Cost of Taxi Start (Normal Tariff)85.00 NT$
Cost of Taxi 1 hour Waiting (Normal Tariff)252.00 NT$

Grocery Cost in Taiwan

The average grocery cost in Taiwan is 3,600 NT$ per month, including milk, food and other items. As we all know, groceries are everyday expenses that follow us wherever we go and groceries cost can affect the cost of living in Taiwan. So here in the table below lists the average grocery prices in Taiwan:

Grocery ItemApprox. Cost
Price of 1 liter Milk (regular)96.99 NT$
Price of 1 kg Rice (white)95.68 NT$
Price of Eggs (regular) (12)93.10 NT$
Cost of Loaf of Fresh White Bread (500g)60.47 NT$
Fruits and Vegetables (per kg)Around 90 NT$

Restaurant Costs in Taiwan

Taiwan has many diverse cuisines in its Restaurants. The cost of meal at an inexpensive restaurant is around 150 NT$. An abundance of restaurants and quaint street eateries offer both traditional and contemporary cuisine. Which will not affect your cost of living in Taiwan budget. The table below demonstrates the average restaurant costs in Taiwan you can expect to bear in the country:

RestaurantsApprox. Cost
Price of Meal at an Inexpensive Restaurant150.00 NT$
Price of Meal for 2 People, Mid-range Restaurant, Three-course1,000.00 NT$

Utility Costs in Taiwan

The Basic Utility Cost in Taiwan is around 2,667.42 NT$ for one person. This utility cost includes heating, electricity, gas, a mobile plan, and internet access. The utility costs are relatively low if we compare it to the cost of living in Taiwan. For your reference, we have given the average utility Costs in Taiwan for various categories in the table below:

Utility TypeApprox. Monthly Cost
Basic Utility Cost (Heating, Electricity, Cooling, Water, and Garbage) for 85m2 Apartment2,667.42 NT$
Monthly Plan of Mobile Phone (with Calls & 10GB+ Data)835.07 NT$
Internet (60+ Mbps, Unlimited Data, Cable/ADSL)735.97 NT$

Housing Costs in Taiwan

Housing Costs in Taiwan for an Apartment (1 bedroom) for rent in the City Centre is 14,396.53 NT$. Furthermore, we have given a few housing costs in the table below, which will help you understand the cost of living in Taiwan. Have a look at the housing expenses in the country:

Apartment LocationApprox. Monthly Rent
Monthly Rent for a One-bedroom Apartment (City Centre)14,396 NT$
Monthly Rent for a One-bedroom Apartment (Outside of the Centre)10,661 NT$
Monthly Rent for a Three-bedroom Apartment (City Centre)34,567 NT$
Monthly Rent for a 3-bedroom Apartment (Outside of the Centre)25,506 NT$
The price per Square Meter to Buy an Apartment in the City Centre259,807 NT$
The Price per Square Meter to Buy an Apartment Outside of Centre161,310 NT$

Average Tuition Fees in Taiwan

Apart from the cost of living in Taiwan, one of the most important things for students is whether they can afford the average tuition fees. For that, we have given the cost of average tuition fees assessed by the universities in Taiwan in the table below:

CoursesAverage Annual Tuition Fees 
Undergraduate CoursesNT$ 51,000 – NT$ 78,000
Postgraduate CoursesNT$ 50,000 – NT$ 79,000
PhD CoursesNT$ 142,000

Why Choose Taiwan to Study Abroad?

Along with the affordable cost of living, Taiwan offers plenty of academic advantages and study destinations to international students. It is also a very friendly and welcoming country. Studying in Taiwan can be a very rewarding experience for international students. It boasts a safe environment, as it has a relatively lower crime rate than other neighbouring regions and one can enjoy a good standard of living in Taiwan and high-quality education. Here are some major reasons why you should choose Taiwan to study abroad:

Scholarships for International Students

Recently, Taiwan attracted 30,000 international students to choose Taiwan for study-abroad destinations. There are diverse scholarships and financial assistance opportunities the Taiwanese government offers to overseas students who want to pursue graduate and undergraduate degrees in Taiwan. It means Expat students only have to understand about the cost of living in Taiwan only.

The Taiwan government offers the Taiwan Scholarship and the Huayu Enrichment Scholarship, among others. The smooth allocation of scholarships makes the cost of living in Taiwan for International Students affordable. 

Expand Your Cultural Horizons 

Studying in Taiwan is more than just academics. The vibrant culture, rich history, stunning natural landscapes and bustling cities of the country ensure a great learning experience for students and make the cost of living in Taiwan affordable.

Opportunities in Technology

For students who want to study in the technology field, Taiwan is the best suitable country for them at an affordable cost. It has the most employable graduates in technology. Its highly ranked STEM programs combined with their industry partners give students a competitive edge.

Also Read: Cost of Living in Hong Kong: A Guide on Expected Expenses

Things to Know When Moving to Taiwan

Now that you have understood the cost of living in Taiwan in various categories in details, If you have finally decided to move to Taiwan for stay or study, then check out some important things you need to know about the country beforehand:

Welcoming People in Taiwan

Taiwanese and its people made a reputation for being welcoming and friendly to outsiders. It is known for its friendly people and generous hospitality. So, living in Taiwan won’t make you feel far from home.

Work Opportunities in Taiwan

Taiwan has a great job market for many professions and offers many work options for expats. It has a high demand for skilled workers and issues work visas easily for individuals who meet the qualifications for available jobs. Work Opportunities in Taiwan makes the cost of living in Taiwan negligible.

High-Quality Healthcare in Taiwan

Taiwan’s healthcare system is also among the most efficient in the world. Its top-notch medical facilities have qualified medical staff, and the country offers high-quality care in modern facilities at reasonably low costs. These expenses contribute negligibly to the cost of living in Taiwan. In the health and health systems ranking of countries worldwide, Taiwan ranked fourth last year.

A Lot of Things to Do in Taiwan

Taiwan houses various stunning attractions that you should visit, such as the National Palace Museum, Longshan Temple, Rainbow Village, Shilin Night Market, Ximending, Muzha Zoo, Gaomei Wetland, Lihpao Land, and many more.

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FAQs

Q.1 What is the Cost of Living in Taiwan?

Answer: The average cost of living in Taiwan is around 89,787 NT$ for a family of four members, while the estimated monthly cost for a single person is 24,621 NT$ without rent. This means the cost of living is decent compared to other countries.

Q.2 Is the cost of living in Taiwan cheaper than India?

Answer: No, the average cost of living in Taiwan is 119.9% higher than India, which is relatively high compared to India. However, the cost of living in Taiwan is 33.3% lower than in the United States.

Q.3 What is the basic salary in Taiwan?

Answer: Taiwan is a developing country with a booming economy. The basic salary in Taiwan is 27,470.00 NT$ per month, and it has been revised from 01 January 2024. This basic salary is slightly higher than the average cost of living in Taiwan. So with this minimum salary base, any person can send money to their home.

So, this was all about the cost of living in Taiwan. Many Indian students dream of pursuing education in foreign nations due to the exposure and career growth they offer. Consider joining a free counselling session with Leverage Edu if you plan to study abroad

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