Cost of living in Siteki
Siteki, a town in Eswatini, offers a unique lifestyle with its own set of living costs. Understanding the cost of living here is crucial for anyone planning to move or invest in the area.
This guide provides a detailed breakdown of the expenses you can expect, from housing to everyday necessities, helping you make informed financial decisions.
Cost of Living Summary
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre averages $193.17.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $82.79.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre averages $331.15.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent averages $137.98.
Salaries and Financing
- Average Monthly Net Salary (After Tax) - The average monthly net salary after tax is $358.74.
- Mortgage Interest Rate - The yearly mortgage interest rate for a 20-year fixed-rate loan is 9%.
Cost of Living Data
Rent Per Month
Rent Per Month
Salaries And Financing
Salaries And Financing
"Key Takeaways"
Siteki offers relatively affordable housing options, especially outside the city centre, making it an attractive option for those looking to save on rent.
The average salary in Siteki is modest, which aligns with the lower cost of living, but potential residents should plan their finances accordingly.
With a mortgage interest rate of 9%, financing a home purchase in Siteki requires careful consideration of long-term financial commitments.
Conclusion
In conclusion, Siteki presents a cost-effective living environment, particularly in terms of housing. The lower rental prices outside the city centre provide an opportunity for savings.
However, with the average salary being relatively low, it's important for residents to budget wisely to maintain a comfortable lifestyle. The mortgage interest rate suggests that while buying property is feasible, it requires thorough financial planning.