Have you been thinking about buying a vacation home, particularly one with an international flavor? Well, you will probably want to cross Chad, Africa off of your list of potential hotspots.
A recent study conducted to compare costs of living abroad lists the capital of Chad as the most expensive place to live in Africa for those who come from another country. A flat in the city costs around $2,000 per month for the expatriate. To make this even more clear, the capital of Chad is the 11th most expensive place in the world to live for those who come from another country.
Once oil was discovered, property in the capital of Chad became very expensive. Though the initial impact of the pricing increase impacted those who came from outside of the country, the cost of real estate has skyrocketed and made it very difficult for Chadian nationals to buy property for their own families.
According to a recent article written on the subject, renting a single room in Chad costs a Chadian around 40,000 cfa ($68.00) per month while the minimum wage is at 60,000 cfa ($100.00) per month. That is not a room at the Hilton, but more likely a room with a dirt floor, very limited electricity and likely no running water. “On the United Nations Human Development Index, which measures health, education and quality of life, Chad ranks third to last in the world.”
So the next time you are considering the possibility of living abroad and Chad jumps to mind, you might want to consider setting your sights a little lower and settling for Paris, France or Rome Italy. If the loss of the African experience is just too much for you to bear, consider taking a short trip to Chad with Art on one of his next visits:)