Old Apartment in Shanghai, China.
I've lived in Asia and now Mexico and for me there is no more of a romantic idea than filling a small backpack, taking an airplane to some far off place and renting a dusty old apartment...cracking open a Heineken and looking out from my new balcony...ahh.  Anyway,  here are the Top 10 Cities in the world to do just that.  Why?  Because they have the Lowest Costs of Living in the World...  
 
(Click on City Names for more Information and Photos)
Dushanbe means “Monday” in Tajik, named after a popular Monday  marketplace. The capital city has good access to mountain climbing and  mountain biking opportunities in the Pamir Mountains. Mild winters might  help ease the 40% hardship index.  Groceries and housing are extra  affordable, but the city’s nightlife is not up to Western standards and  more expensive than other cities on the list. 
English is widely spoken in Kampala, but there are opportunities to 
learn Swahili,  which is the official language.  Kampala is home to many NGOs, and  therefore has a well-established expat scene.  Kampala is a convenient  base for activities like rafting the Nile River, going on safari and  visiting chimpanzee sanctuaries.
Olive oil, carpets, and the Mediterranean – must be North Africa.   Tunis doesn’t have much in the way of beaches, but it makes a great  jump-off point for Carthage. 
There seems to be less hassle of foreigners here than in Morocco, but  remember that anyone acting too friendly may want something from you.   Ladies, don’t go to bars without a male, you may be mistaken for a  prostitute.
Matador Trips editor Hal Amen 
writes of La Paz:  higher elevation = less money.  3,660 meters above sea level and the  lowest GDP in South America – Bolivia has an overall low cost of living  index.  
Bolivia is the place to experience one of the world’s
 most dangerous roads, the altiplano, and the Southern Circuit.
Read Hal’s 
7 Facts of Expat Life in Bolivia for more information.
Southeast Asia has several factors that make it a draw for expats:  warm water, delicious food, friendly locals, and low cost of living.  Well, at least it’s still cheap to live in Phnom Penh even if  neighboring countries’ capitals are a bit pricier. 
Monsoons and corruption are both drawbacks, but transportation is ultra affordable, and so is healthcare.  One American expat 
lives in Phnom Penh on two dollars a day.
Living on an island tends to be expensive, but Sri Lanka is an  exception. Housing is ultra affordable and there is an established  community of expats.  Alcohol is cheap, but if drinking makes you  affectionate, be careful, public displays of hugging and kissing are  culturally unacceptable.  
If you’re thinking of visiting or moving to Colombo, check out Matadorian Dominic DeGrazier’s
 9 Reasons Other Than Cheap Booze to Visit Sri Lanka.
I find it interesting that a country whose leadership has declared it is more concerned with 
Gross National Happiness  than its Gross National Product would appear on this list; Thimpu has  some of the of the cheapest housing and recreation options for expats.
To control tourism and protect the environment, Thimphu charges  tourists a fee of $200 a day to enjoy Bhutan.  Word is, that has been  reduced to a government tax of $100 a day. But as an expat you wouldn’t  be required to abide by tourist rules. 
Adventure tours are starting to pop up which include mountain biking, rafting, hot springs, and 
trekking.  Just thinking about moving to Thimpu makes me happy.
Although Tripoli is rated with an extreme hardship level of 40%, it’s  ranked at number three for having low prices on entertainment, housing,  and recreation.  This seaport is the largest city in Libya and still  largely unaffected by mass-tourism.  
Here, you can learn Arabic, swim in the Mediterranean, and climb the  still-standing city walls for the best views.  Most jobs for expats in  Tripoli are in the oil and gas industry.
Nuku’Alofa has the cheapest hotels and restaurants on the list, but  it’s another 40% hardship location.  Now I’m going to throw out some  persuasive verbs: snorkeling, surfing, dancing.  And now some nouns:  rainforest, coral, markets.  Nuku’Alofa is small enough to walk around.  English is widely spoken. (Click on city names for photos and information)
The cheapest place to live on Xpatluator’s list is Sana’a.  This  Yemeni city has the cheapest food, cheapest housing, cheapest furniture,  and cheapest medical care of all the 282 cities ranked. UNESCO has  named the whole place a World Heritage Site.  Sana’a is also one of the  best places in the world to
 learn Arabic.
For more on living in Sana’a, read Matadorian Baxter Jackson’s 
Dreaming in Arabic, Learning in Yemen.
Alternatively, if you are wealthy, here are...
 Top 25 Cities with the Highest Cost of Living
1 
Japan, Tokyo
2 
Venezuela, Caracas
3 
China, Hong Kong
4 
Switzerland, Geneva
5 
Japan, Osaka
6 
Switzerland, Zurich
7 
Brazil, Sao Paulo
8 
Norway, Oslo
9 
Japan, Nagoya
10 
Russia, Moscow
11 
Brazil, Rio de Janeiro
12 
Liechtenstein, Vaduz
13 
Japan, Yokohama
14 
Denmark, Copenhagen
15 
Brazil, Brasilia
16 
United Kingdom, London
17 
Australia, Sydney
18 
Angola, Luanda
19 
China, Shanghai
20 
Australia, Canberra
21 
France, Paris
22 
Monaco, Monaco
23 
Kiribati, South Tarawa
24 
Jersey, Saint Helier
25 
Bahamas, Nassau
See full list of the 300 Cities here...
http://www.xpatulator.com/outside.cfm?aid=240