The first-ever cliffside residences in Turks and Caicos are almost here

Vacationing in paradise is such a tease — The right amount of sunshine, relaxation and gorgeous scenery can make leaving and going back to our 'ordinary' hometowns and cities extremely difficult.

But aside from multi-million dollar estates and lavish resorts, finding affordable and comfortable living conditions on a getaway-centric locale is nearly impossible.

SEE ALSO: Well, it's come to this: Buy this house to get free avocado toast for a year

But from the looks of the newest development by Mark Durliat of Grace Bay Resorts, this daydream will soon become an attainable reality.

Enter Rock House, the first ever residential resort that's being built right into the limestone cliffs of the Providenciales area of Turks and Caicos.

Aside from being totally Instagrammable, Rock House will be quite practical, reasonably priced and full of views and amenities that will make your everyday feel like a constant vacation.

Take a look at the stunning Rock House development below:

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The development will feature units ranging in size from studio suites, one and two bedroom cottages (ranging from 600 to 1,750 square feet) and four to five bedroom homes to be completed in a later phase of construction.

Studio suites will all come with private terraces with jaw-dropping views of the 100-foot infinity pool, one of the development's focal points.

The cottages will range in price from $600,000 to $1.4 million and will include unheard of amenities, such as personal plunge pools, private outdoor shower gardens and floor-to-ceiling lass windows.

Other onsite amenities include a spa fitness center and tennis courts, in addition to a secluded beach and jetty which can be accessed via built in steps down one of the ancient limestone cliffs.

CEO and co-founder of Grace Bay Resorts, Mark Durliat, shared the budding (and already-expressed) interest in the new property:

"We are re-imaging what it means to escape to the islands, and buyers are responding. Twenty-five percent of the homes have already been reserved. With an exclusive location in the upscale residential neighborhood of International Drive, Rock House will deliver an elegant property with timeless appeal that cannot be found in a traditional oceanfront condominium."

The first phase of the developments is set to wrap up in 2020, with the second phase expected shortly thereafter.

RELATED: 50 most expensive countries to live in

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50 most expensive countries to live in

50. Slovenia

  • Cost of living is 46.8 percent lower
  • Rent is 86 percent lower
  • Groceries are 56.5 percent lower
  • Local purchasing power is 21.77 percent lower

Whether you want to gaze out your window everyday to see medieval castles, quiet lakes or mountains that beckon you to strap on your snow gear, you'll find the lifestyle you're looking for in Slovenia. The central European country bests NYC's cost of living by nearly 47 percent and is 27 percent cheaper than the U.S. as a whole. Go out to eat in an inexpensive restaurant and pay an average of $7.63 for your meal. Raise your glass and celebrate all the money you're saving. Beer is less than $2 a bottle in the supermarket.

Also Read: Amazing Places You Can Live for $1,000 a Month

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49. Palestinian Territories

  • Cost of living is 46.5 percent lower
  • Rent is 89.7 percent lower
  • Groceries are 50 percent lower
  • Local purchasing power is 49.46 percent lower

The Palestinian Territories are home to the Gaza Strip and West Bank. If you live there, you'll enjoy rent prices that are just $331 for a one-bedroom apartment in the city center. It's almost free to whip up an inexpensive meal at home. Most fruits and veggies cost less than $1 per pound and potatoes and onions run about 38 cents per pound. Want to eat out? Grab a cheap meal for $5.50 or take your significant other out to dine at a mid-range restaurant and spend about $27 total for both of your three-course dinners. 

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48. Cyprus

  • Cost of living is 45.9 percent lower
  • Rent is 87.7 percent lower
  • Groceries are 55.9 percent lower
  • Local purchasing power is 4 percent lower

You're not the only one who thinks Cyprus is a great place to live: the idyllic Mediterranean island's natural beauty drew people long before the common era. A move to the Republic of Cyprus on the southern part of the island comes with a much lower price tag than you'll pay in the U.S. Pack a romantic picnic, grab your honey's hand and go see the sights. A loaf of fresh baked bread costs $1.24, a pound of local cheese runs $3.22 and a bottle of mid-range wine is just $4.35.

See: 9 Cheap Island Getaways

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47. Spain

  • Cost of living is 45 percent lower
  • Rent is 81.2 percent lower
  • Groceries are 55.3 percent lower
  • Local purchasing power is 12.13 percent lower

No matter which of Spain's 17 diverse regions call you to settle down, you'll enjoy a cost of living index that saves you significant outlay from U.S. prices. Savor the flavors of the country by sipping a vintage Tempranillo or Garnacha from La Rioja, or try a Bobal from Valencia. You can afford to stock your wine cellar for just under $5 per bottle. 

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46. Mongolia

  • Cost of living is 44.4 percent lower
  • Rent is 70.35 percent lower
  • Groceries are 46 percent lower
  • Local purchasing power is 77.2 percent lower

If your nomadic heart draws you to settle in Mongolia, you won't experience the lowest cost of living in the world, but it will be more than 26 percent cheaper than the U.S. in general. If you're planning on working, you might want to have an internet-related source of income. Net wages in Mongolia average just $388 per month. That's not even enough to pay for a one-bedroom in the city, which runs $452, so you'll probably need to get a roommate.

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45. Belize

  • Cost of living is 44.2 percent lower
  • Rent is 88.65 percent lower
  • Groceries are 50.7 percent lower
  • Local purchasing power is 34.3 percent higher

Although Belize is one of the most expensive places to live, your dollar buys you more than it does in the states. Locals can buy over a third more goods and services than a New York City resident with their dollars. That means you can spend more time wading its turquoise waters, hiking through the jungle to Mayan ruins or snorkeling its barrier reef.

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44. Greece

  • Cost of living is 44.1 percent lower
  • Rent is 89.8 percent lower
  • Groceries are 55 percent lower
  • Local purchasing power is 41.76 percent lower

Put down roots in the cradle of Western civilization. In Greece, you'll have ready access to the Parthenon, Acropolis and other ancient monuments. Shimmering deep blue waters, black sand beaches and Mediterranean cuisine can be a part of your daily life in the country. Greece has a 24 percent lower cost of living than the average in the U.S. and housing is positively cheap. Rent a one-bedroom apartment for an average of $279 or buy your own place for as little as $81 per square foot. Mortgage rates are only slightly higher than they are in the U.S. You'll pay 4.46 percent mortgage interest compared to 4.02 percent in the states.

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43. Trinidad and Tobago

  • Cost of living is 43.9 percent lower
  • Rent is 78.9 percent lower
  • Groceries are 46.5 percent lower
  • Local purchasing power is 42.9 percent lower

Immerse yourself in Creole culture when you settle down in Trinidad and Tobago. The Caribbean island nation enjoys a cost of living that's over 25 percent lower than the U.S. average. Treat your taste buds to Creole cuisine for as little as $6.65 in an inexpensive restaurant. You'll enjoy lower prices when cooking at home too. A pound of beef round costs $2.98 compared to $5.24 in the U.S. and chicken breasts cost just $2.33 a pound.

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42. Panama

  • Cost of living is 43.1 percent lower
  • Rent is 68.14 percent lower
  • Groceries are 42.56 percent lower
  • Local purchasing power is 61.5 percent lower

Panama's lower cost of living is just one of the reasons it has a reputation as one of the best places in the world to retire. It's about 25 percent cheaper than living in the U.S. overall. Buying an apartment in the country comes as cheaply as $130 per square foot with mortgage interest rates at about 5.4 percent.

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41. Jamaica

  • Cost of living is 43.1 percent lower
  • Rent is 88 percent lower
  • Groceries are 44 percent lower
  • Local purchasing power is 63.4 percent lower

Make the beach and reggae music your lifestyle when you move to Jamaica. Not only will you enjoy renting an apartment for as little as $200 per month, your lower budget will give you plenty of money to enjoy the local flavor. Dine on goat curry or jerk chicken for $4.25 at an inexpensive eatery or savor a three-course meal for two for less than $40.

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40. Bahrain

  • Cost of living is 42.2 percent lower
  • Rent is 68.4 percent lower
  • Groceries are 44.6 percent lower
  • Local purchasing power is 5.2 percent lower

Live the island life in Bahrain, which encompasses more than 30 islands in the Persian Gulf. You and your budget will love going out to eat: An inexpensive meal costs only $5.31 on average and a three-course meal for two costs as little as $32. While you're at it, go see a movie. Tickets are $7.96, much lower than movie admission in urban U.S. areas, which can top $15.

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39. Costa Rica

  • Cost of living is 41.43 percent lower
  • Rent is 81.24 percent lower
  • Groceries are 42.5 percent lower
  • Local purchasing power is 46.4 percent lower

Settle down in Costa Rica and spend your days soaking in hot springs at the foot of a volcano or ziplining through the rainforest. Rent a one-bedroom apartment in a city center for $525 per month with utilities that average $65 monthly. Low real estate costs make it tempting to buy a place. Pay just $148 per square foot in a city or $110 per square foot in the outskirts. But be warned — at 10.65 percent, mortgage interest rates are sky high.

Related: Countries With the Highest Interest Rates Today 

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38. Jordan

  • Cost of living is 40.78 percent lower
  • Rent is 87.49 percent lower
  • Groceries are 49.8 percent lower
  • Local purchasing power is 57.7 percent lower

From pink sandstone cliffs harboring the famous archaeological site of Petra to the ultra-modern capital of Amman, Jordan offers up plenty of places to explore when you set down roots in the country. The country's cost of living is almost 24 percent lower than the U.S. average. Although you'll pay nearly $6 for a gallon of milk and $22 for a bottle of mid-range wine, groceries are cheap. Get a loaf of fresh bread for just 29 cents or a pound of chicken breasts for $2.68.

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37. Ghana

  • Cost of living is 39.5 percent lower
  • Rent is 53.27 percent lower
  • Groceries are 43.7 percent lower
  • Local purchasing power is 85.5 percent lower

A move to Ghana tucks you among colonial buildings and castles, beaches and rain forests that beckon you to a lifetime of exploration. The country is about 17 percent lower in its cost of living than the general U.S. Although you'll pay $1,075 a month for a one-bedroom apartment, your utilities will average $72 — half the price you'd find in the states. Groceries are cheaper than in the U.S., too. A pound of beef round is just $2.85 compared with $5.24 in America.

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36. Taiwan

  • Cost of living is 38.6 percent lower
  • Rent is 85.2 percent lower
  • Groceries are 27 percent lower
  • Local purchasing power is 18.6 percent higher

Live among Taiwan's sparkling azure waters and rugged mountain terrain for a cost of living that is 13 percent lower than the U.S. Average. While you won't find the cheapest gasoline in the world to take you on your adventures, the cost is moderate at $3.26, about a dollar more per gallon than you'd pay in the U.S. 

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35. Lebanon

  • Cost of living is 38.4 percent lower
  • Rent is 69 percent lower
  • Groceries are 53 percent lower
  • Local purchasing power is 46.4 percent lower

Tucked between Syria and Israel, Lebanon rolls out a cost of living that's about 18 percent less than the U.S. average. Housing is reasonable in the country: A one-bedroom apartment outside of a city center averages $453 and utilities cost $125 monthly. Produce is cheap, too. Buy potatoes, onions, bananas and oranges for less than 60 cents a pound.

Find Out: What a $5 Million Home Looks Like Around the World 

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34. Macao

  • Cost of living is 37.4 percent lower
  • Rent is 61 percent lower
  • Groceries are 43.7 percent lower
  • Local purchasing power is 13.6 percent lower

Macao doesn't have the lowest cost of living in the world, but it's over 18 percent lower than the average across the U.S. That leaves more in your monthly budget for enjoying its expansive malls and casinos along the Cotai Strip, also known as the Las Vegas of Asia. Your monthly rent if you live in the city runs $980 for an apartment, but your basic utilities will cost just $73.

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33. Malta

  • Cost of living is 37.2 percent lower
  • Rent is 76.8 percent lower
  • Groceries are 47.2 percent lower
  • Local purchasing power is 31.9 percent lower

When the Mediterranean island lifestyle beckons you, Malta rolls out a smorgasbord of sparkling lagoons, ancient ruins and Baroque architecture for your daily enjoyment. The country is 13 percent less expensive to live in than the U.S. overall. Rent is just $541 for a one-bedroom outside of a city center. Utilities run about $84.50 monthly for a 915 square foot apartment and you'll enjoy most produce prices at the grocery store of less than $1 per pound.

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32. Germany

  • Cost of living is 34.5 percent lower
  • Rent is 74.7 percent lower
  • Groceries are 50 percent lower
  • Local purchasing power is 24.9 percent higher

Whether you want to delve into more than two millennia of history or immerse yourself in Berlin's sizzling nightlife, your monthly budget will carry you further in Germany than in the U.S. Rent an apartment in the heart of the city for $705 monthly or venture to a quiet lifestyle in the outskirts for $525. Dusseldorf is the most expensive place to live in Germany with cost of living less than 18 percent cheaper than New York City. 

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31. United Arab Emirates

  • Cost of living is 32 percent lower
  • Rent is 31.2 percent lower
  • Groceries are 44.6 percent lower
  • Local purchasing power is 16.8 percent higher

The United Arab Emirates' lower cost of living leaves you money left in your monthly budget to do more than window shop in the expansive shopping districts of Dubai and Abu Dhabi. Rent will take up the largest chunk of your income, as a one-bedroom in a city center nears $1,800 monthly. It's not the most expensive country in the world to buy your home, though. You'll find costs per square foot as low as $260 outside of a city center. 

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30. Qatar

  • Cost of living is 30.8 percent lower
  • Rent is 33.2 percent lower
  • Groceries are 43.9 percent lower
  • Local purchasing power is 11.3 percent higher

When you move to Qatar, you'll enjoy low gas prices of just $1.49 that let you explore the country's many sights. Stretch out along one of Qatar's many public beaches or head into Doha to soak up its art culture and ultramodern architecture. Cheap utilities help offset high rent prices. You can expect to pay about $1,900 per month for an apartment in the city but only $76 for your electricity, heating, garbage and water combined.

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29. United Kingdom

  • Cost of living is 30.5 percent lower
  • Rent is 69 percent lower
  • Groceries are 44.15 percent lower
  • Local purchasing power is 3.15 percent lower

Savor the same local flair enjoyed by notable residents such as William Shakespeare and the Beatles when you move to the U.K. You might peek out your window to see Big Ben on your daily commute. Your money goes the furthest in Liverpool and Belfast, where the cost of living is 35 percent lower than in New York City. The cities also enjoy up to 9 percent greater purchasing power than the Big Apple.

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28. Puerto Rico

  • Cost of living is 30.4 percent lower
  • Rent is 80.5 percent lower
  • Groceries are 33.2 percent lower
  • Local purchasing power is 16.95 percent lower

Live out your Caribbean dreams in Puerto Rico. Full of white sand and water adventure, this country is home to beach towns full of Spanish colonial, art deco and neoclassical architecture. It doesn't have the lowest cost of living in the world, but it is 7.5 percent lower than the total U.S. average. Rent a one-bedroom apartment outside of city center for $426 per month or buy a place for $152 per square foot.

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27. Canada

  • Cost of living is 29.8 percent lower
  • Rent is 70.2 percent lower
  • Groceries are 30.7 percent lower
  • Local purchasing power is 8 percent higher

Moving to our neighbor to the north can save a lot of dough in the monthly budget. Compared to the average U.S. cost of living, Canada rolls out more than 10 percent savings on the monthly budget. Your money goes the furthest in Guelph, Kitchener and Hamilton where you can enjoy a cost of living between 37 and 40 percent less than in the states and local purchasing power up to 15 percent more than NYC.

More in Travel: The Best Places in Canada to Stretch a Dollar 

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26. Uruguay

  • Cost of living is 29.7 percent lower
  • Rent is 81.4 percent lower
  • Groceries are 43.2 percent lower
  • Local purchasing power is 67.14 percent lower

Spend your days soaking up the rays along Uruguay's beach-lined coast and dancing your nights away in its glitzy nightclubs. After all, you won't have to work as hard to enjoy the same lifestyle as you do in the states. Rent is almost 50 percent lower than the U.S. in general and you can rent an apartment in the heart of city activity for $551 per month. 

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25. Austria

  • Cost of living is 28.5 percent lower
  • Rent is 74.1 percent lower
  • Groceries are 34.1 percent lower
  • Local purchasing power is 4.34 percent lower

Mozart, Freud, Strauss and now you. Walk in the footsteps of some of the country's notable residents as you explore Austria's baroque architecture, mountain villages and stunning scenery. Overall, you'll notice a nearly 2 percent lower cost of living in the country when compared with the U.S. in general. You will find that a few things are slightly more expensive in Austria, though. A gallon of gas runs $4.73 compared to about $2.30 in the U.S. and beef is $8.29 a pound, up from $5.24 in the states.

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25. Austria

  • Cost of living is 28.5 percent lower
  • Rent is 74.1 percent lower
  • Groceries are 34.1 percent lower
  • Local purchasing power is 4.34 percent lower

Mozart, Freud, Strauss and now you. Walk in the footsteps of some of the country's notable residents as you explore Austria's baroque architecture, mountain villages and stunning scenery. Overall, you'll notice a nearly 2 percent lower cost of living in the country when compared with the U.S. in general. You will find that a few things are slightly more expensive in Austria, though. A gallon of gas runs $4.73 compared to about $2.30 in the U.S. and beef is $8.29 a pound, up from $5.24 in the states. 

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23. Finland

  • Cost of living is 26.9 percent lower
  • Rent is 73 percent lower
  • Groceries are 38.5 percent lower
  • Local purchasing power is 15 percent higher

Spend your days on beaches along the Baltic Sea and nights gazing at the Northern Lights in Finland. You'll save big on rent over NYC prices and almost 31 percent over the U.S. in general. The cost of living closely resembles that of the U.S. average, however. The biggest price difference comes at the pump where you'll pay upwards of $6 per gallon compared to an average of $2.30 in the U.S.

See: How Finland's Healthcare Compares to America's 

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22. France

  • Cost of living is 25.1 percent lower
  • Rent is 75.2 percent lower
  • Groceries are 30.5 percent lower
  • Local purchasing power is 12.7 percent lower

Live life among fields of fragrant lavender, classical art and palate pleasing cuisine when you live in France. It's not the most expensive place to live either; a mere 2 percent above the average U.S. cost of living. You'll pay the most to live in Paris. Find an inexpensive cost of living in Toulouse and Marseille where local purchasing power exceeds NYC by as much as 19 percent.

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21. Kuwait

  • Cost of living is 24.8 percent lower
  • Rent is 62.2 percent lower
  • Groceries are 18.6 percent lower
  • Local purchasing power is 30.3 percent lower

Although Kuwait's history dates back to antiquity, you'll find cutting-edge architecture within a short drive from architectural ruins. Its affordability might surprise you — it costs just nearly 10 percent less than the average U.S. lifestyle. You'll especially enjoy the price of gas. Fill up and go for just 99 cents per gallon.

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20. Belgium

  • Cost of living is 24.6 percent lower
  • Rent is 70.4 percent lower
  • Groceries are 34.2 percent lower
  • Local purchasing power is 9 percent lower

Surround yourself with Renaissance architecture when you move to Belgium. Though the country is 2.7 percent more expensive than average U.S. living expenses, real estate prices are reasonable. See that classic architecture just outside your window in the city for $289 per square foot.

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19. South Korea

  • Cost of living is 24.6 percent lower
  • Rent is 78 percent lower
  • Groceries are 11.5 percent lower
  • Local purchasing power is 2.4 percent higher

South Korea's cherry tree-dotted countryside, high-tech cities and charming coastal fishing villages make it a good place to call home. While living in the country is much cheaper than New York, you'll experience about a 7 percent increase in cost of living compared to the rest of the U.S. Cheaper rent offsets some of those costs. Live in a one-bedroom apartment outside of a city center for just $369. You might experience sticker shock at the grocery store, though. A gallon of milk exceeds $8.00 and you'll pay over $9 for a pound of beef round.

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18. United States

  • Cost of living is 24.6 percent lower
  • Rent is 59.7 percent lower
  • Groceries are 24.4 percent lower
  • Local purchasing power is 23.2 percent higher

New York City is one of the more expensive places to live in the United States, second only to Honolulu, Hawaii. One of the cities where you'll get the most for your money in the U.S. is Athens, Ga. Expect overall expenses to be about 38 percent lower than New York City and your local purchasing power to stretch more than 23 percent further.

See: Here's What an Average Apartment Costs in 50 U.S. Cities 

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17. Sweden

  • Cost of living is 24.1 percent lower
  • Rent is 73.1 percent lower
  • Groceries are 32 percent lower
  • Local purchasing power is 7.2 percent higher

If Sweden's boreal forests, inland lakes and coastal islands are calling you to make your home in the country, you'll enjoy a much lower cost of living than in the Big Apple. Rent is where you'll save the most. A one-bedroom apartment costs $572 per month outside a city center, or $811 within one. To make your dollar go the furthest, bypass living in Stockholm and head to where the cost of living is lower, such as Malmo and Uppsala.

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16. Ireland

  • Cost of living is 23 percent lower
  • Rent is 59.4 percent lower
  • Groceries are 37.8 percent lower
  • Local purchasing power is 3.5 percent higher

Your Irish eyes will be smiling when you take a peek at the cost of living index for Ireland. It's 23 percent less expensive than New York City and just 6 percent higher than the average in the U.S. Your money will go furthest in Galway on Ireland's west coast. The cost of living there is about 26 percent less than in New York City and local purchasing power almost 5 percent higher.

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15. Luxembourg

  • Cost of living is 22.7 percent lower
  • Rent is 50 percent lower
  • Groceries are 34 percent lower
  • Local purchasing power is 2.6 percent lower

Dramatic medieval castles perched over vast river gorges, wooded highlands and regions of vineyards make the small country of Luxembourg a place for a wide range of everyday adventures. Like many of the most expensive countries, you'll find a lower cost of living than in NYC, but a higher cost of living overall than the U.S. Expect rent and utilities for a one-bedroom apartment to cost more than $1,700 per month. Going to the movies is cheaper, though. You'll pay just $9.81 for a ticket.

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14. Israel

  • Cost of living is 22.3 percent lower
  • Rent is 71.6 percent lower
  • Groceries are 34.6 percent lower
  • Local purchasing power is 5.53 percent lower

More than just a religious hotspot and Holy Land, Israel is home to a plethora of ancient history and cutting edge technology. The cost of living index shows it to be significantly less expensive than living in NYC, but it's over 11 percent higher than most of the U.S. Raising kids can be pricey in Israel too. One year of international primary school runs $13,881 and private preschool or kindergarten costs $740 monthly. 

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13. Hong Kong

  • Cost of living is 20 percent lower
  • Rent is 15.9 percent lower
  • Groceries are 18.1 percent lower
  • Local purchasing power is 18.5 percent lower

You can get down to business in Hong Kong, one of the major ports and financial hubs of the world. But when it's time to relax, you've got playgrounds at your fingertips. Hong Kong Disneyland, the Ngong Ping 360 cable car and the Ocean Park Hong Kong theme park are just a few of its many attractions. It's barely more expensive than the U.S. overall — just over 3 percent — but elegant and inexpensive afternoon tea and Cantonese dim sum make the premium well worthwhile.

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12. Australia

  • Cost of living is 19.3 percent lower
  • Rent is 57.5 percent lower
  • Groceries are 23.1 percent lower
  • Local purchasing power is 1.9 percent higher

Although you'll find it cheaper to live just about anywhere in Australia compared to New York City, the country's cost of living is 7.9 percent higher than the U.S. in general. The most noticeable cost comes in housing. The average monthly rent in a city runs $1,241 and you'll pay $519 per square foot if you opt to buy a place. But with the Great Barrier Reef, Outback and the Sydney Opera House within reach, you might just feel it's a bargain.

See: How Much It'll Cost You to Retire in These Premium Travel Destinations

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11. New Zealand

  • Cost of living is 19.2 percent lower
  • Rent is 66.2 percent lower
  • Groceries are 26.9 percent lower
  • Local purchasing power is 10.1 percent lower

A land of fire and ice, New Zealand is the ideal place to put down roots if you like the novelty of snow during the months of May through July. A land of rugged contrasts, New Zealand rolls out hot springs, world-class rugby and regatta boat races. Although the country rolls out a lower cost of living than New York City, it's about 7 percent more expensive than the collective United States. Don't let that stop you from trying one of the country's Sauvignon blanc or Pinot Noir wines. They're well worth the $10.35 per bottle price.

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10. Singapore

  • Cost of living is 17.6 percent lower
  • Rent is 29.8 percent lower
  • Groceries are 28.3 percent lower
  • Local purchasing power is 7.3 percent lower

With technicolor sunsets in a tropical climate, the city-country of Singapore is the ideal place to mix business with pleasure. Although Singapore is lower in cost than living in New York City, it runs nearly 12 percent more to live there than in most of the U.S. Additionally, you'll pay almost 75 percent more in rent than in the United States across the board at $2,033 for a one-bedroom apartment in a city center.

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9. Denmark

  • Cost of living is 17 percent lower
  • Rent is 65 percent lower
  • Groceries are 36.1 percent lower
  • Local purchasing power is 1.2 percent lower

If you want to be on hand for the world's largest gathering of Santa Clauses or nosh on Nordic cuisine, moving to Scandinavia's littlest kingdom might make your heart leap. The cost of living in the small country is 16.5 percent higher than living in the U.S. as a whole, but cheaper than the cost of New York City life. Expect to drop $10 for a McDonald's combo meal or shed about $88 for a nice evening for two at a mid-range restaurant.

Also See: Amazing Tiny European Towns You've Got to Visit 

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8. Italy

  • Cost of living is 16.3 percent lower
  • Rent is 78.5 percent lower
  • Groceries are 26 percent lower
  • Local purchasing power is 28.2 percent lower

From majestic Roman ruins, Renaissance masterpieces and hillsides dotted with vineyards, you can spend a lifetime — or certainly a whole retirement — exploring all Italy has to offer. While you can enjoy prices significantly less expensive than New York City, the country does hold a few surprises. Expect to pay upwards of $16 per person when you're eating out on the cheap and more than $7 for a pound of ground beef at the grocery store.

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7. Japan

  • Cost of living is 14.7 percent lower
  • Rent is 72.4 percent lower
  • Groceries are 10 percent lower
  • Local purchasing power is 2.5 percent higher

Spend a lifetime exploring thousands of shrines, temples, palaces and mountainside national parks when you move to Japan. Don't be discouraged by naysayers telling you how expensive it is. If you're used to New York City prices, you'll be enjoying a few extra dollars in your wallet. Buying your home can be pretty pricey, however. Expect to pay nearly $770 per square foot to live in the city.

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6. U.S. Virgin Islands

  • Cost of living is 14.1 percent lower
  • Rent is 62.8 percent lower
  • Groceries are 24.6 percent lower
  • Local purchasing power is 4.2 percent lower

With year-round temperatures in the 70s and 80s, the U.S. Virgin Islands make an ideal place to live or retire. If you live in New York City, you'll be pleasantly surprised. You'll actually save money by becoming a beach bum here. However, the cost of living the beach life is 17.5 percent higher than in the United States as a whole. You won't notice a huge pinch on your wallet for the most part. The most noticeable differences? An inexpensive meal runs $14.50 in the U.S. Virgin Islands and milk prices out at $6.84 per gallon.

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5. Bahamas

  • Cost of living is 4 percent higher
  • Rent is 59.4 percent lower
  • Groceries are 3.5 percent higher
  • Local purchasing power is 65.2 percent lower

From the British colonial buildings of Nassau to the pink sand beaches of Eleuthera, the Bahamas are full of adventures that will make you never want to leave. Although the cost of living there isn't much higher than New York City, it's 40 percent more than living in the U.S. in general. The cost to buy property there is reasonable at just $130 per square foot, the same as many U.S. cities. You might experience sticker shock at the grocery store, however. You'll pay more than $9 for a gallon of milk, $7.68 for a pound of hamburger and $20 for a bottle of wine.

More Tips: The Ultimate Guide to Spending Your Money Around the World 

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4. Norway

  • Cost of living is 6.3 percent higher
  • Rent is 60 percent lower
  • Groceries are 1.7 percent lower
  • Local purchasing power is 5.6 percent higher

Get in touch with your inner Viking in Norway. Uncover museums with well-preserved Viking relics, gardens and colorful wooden homes in its cities. Living out your Lillehammer dreams doesn't come cheaply, though. A one-bedroom apartment inside a city center costs $1,123 monthly, and a pound of beef at the grocery store will run you more than $12.

Photo credit: Getty

3. Iceland

  • Cost of living is 11.7 percent higher
  • Rent is 53.5 percent lower
  • Groceries are 3.88 percent higher
  • Local purchasing power is 22.4 percent lower

With rugged green landscape ranging from volcanoes and lava fields to hot springs and geysers, Iceland can supply a lifetime of outdoor adventure. Expect to pay more than $1,200 to rent a one-bedroom apartment outside of a major city. The price shoots up to $1,500 inside a city center. With all the hiking, you'll have a good reason to give up any bad habits like smoking or drinking too much. Local prices offer more incentive: You'll shell out more than $12 for a pack of cigarettes and $21 or more for a bottle of wine.

Photo credit: Getty

2. Switzerland

  • Cost of living is 22 percent higher
  • Rent is 43.4 percent lower
  • Groceries are 22.7 percent higher
  • Local purchasing power is 4.7 percent lower

When you're dining with a view of snow-capped peaks and mountain lakes, you can expect to pay more than $100 for your meal. Think you'll save money dining at home? You might consider a vegetarian lifestyle with a pound of beef round costing $21.33 per pound. Housing prices are also at a premium. You'll pay more than $1,130 per square foot to buy in a major city. That makes the most expensive place in the U.S. — Washington D.C. — look positively cheap at just $570 per square foot.

Photo credit: Getty

1. Bermuda

  • Cost of living is 46.2 percent higher
  • Rent is 4.8 percent higher
  • Groceries are 39.5 percent higher
  • Local purchasing power is 8.35 percent lower

If lazy days spent wiggling your toes in Bermuda's pink sands and gazing out over its blue water appeals to you as an everyday lifestyle, you're going to pay some of the highest prices in the world for the privilege. Rent for a one-bedroom apartment plus utilities will run you just under $3,000 per month in a city center. You'll pay nearly $8 for a gallon of gas and $18.74 for a gallon of milk at the grocery store. Going out isn't cheap either. Dinner at a mid-range restaurant runs $120 for two people. Which means you might find yourself grabbing an $11.23 combo meal at McDonald's instead.

Up Next: 50 Cheapest Places to Retire 

Photo credit: Getty

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