Cost of living in Borama
Borama, a city in Somalia, offers a unique blend of cultural heritage and modern living. Understanding the cost of living here is crucial for anyone considering moving to or investing in the area.
This guide provides a detailed breakdown of expenses in Borama, covering essential categories such as housing, groceries, and more, to help you make informed financial decisions.
Cost of Living Summary
Grocery Prices
- Milk - Milk is priced at $1 per liter.
- Eggs (Dozen) - A dozen eggs are available for $3.
- Chicken Fillets (1kg) - Chicken fillets cost $3 per kilogram.
- Apples (1kg) - Apples are priced at $2 per kilogram.
- Banana (1kg) - Bananas cost $1 per kilogram.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre is approximately $60.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent for a 1-bedroom apartment is around $40.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre is about $300.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent for a 3-bedroom apartment is approximately $250.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre is $9,000.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter is $45,000.
Cost of Living Data
Markets
Markets
Rent Per Month
Rent Per Month
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
"Key Takeaways"
Borama offers affordable living options, especially in terms of rental prices, which are significantly lower than in many other cities.
Grocery prices are also quite reasonable, making it easier to manage daily expenses.
However, the cost of buying property, particularly outside the city centre, is relatively high, which may impact long-term investment decisions.
Conclusion
In conclusion, Borama presents a cost-effective living environment with low rental and grocery costs, making it an attractive option for residents and newcomers.
While property purchase prices are high, the overall affordability in other areas can offset these costs, providing a balanced lifestyle for those living in or moving to Borama.