It seems that people prefer Malaysia over the United States or Western European countries for settlement after their retirement. Based on the ratings prepared by the international supervisory authorities, Malaysia was placed in sixth place during 2016. Among the list of reasons one of the most important features is the cost of living. It is much more affordable compared to what is common in developed countries. Considering the case that a foreign pension will reduce the amount of social benefits offered by the United States, many emigrants to the United States are migrating to Malaysia. Similarly, the high cost of medical services in the USA, UK, Japan, and Singapore forces people to look for greener pastures.
What is terrestrial reality?
Let's try to understand the situation from a close quarter. The cost of living in Malaysia is lower than its neighboring Singapore. However, there are exceptions. Malaysia levied huge taxes on luxury goods, cigarettes and alcohol products, thereby increasing its prices to diverse.
- Cost of living: Considering the possibility of buying a home, the list of properties presented on real estate portals presents many options in the form of apartments, studio apartments, penthouses, bungalows. Based on what you choose, the price will be different (as is obvious). Nevertheless, there are several additional points that should be considered as a location, accessible objects, surroundings and, of course, the builder's reputation. Comparing with the price per square meter of accommodation in Hong Kong or Singapore, the price established in Malaysia is 7 times lower. In addition to this benefit, expatriates who retire in Malaysia and own MM2H visas can buy apartments, the prices of which were set differently by individual states. The good news is that state governments fix the minimum housing prices for foreigners starting at 500,000 RM.
- When we talk about apartments for rent in Malaysia, a 2-bedroom condominium is designed for 40,000 RM / month in the high-class settlement of Kuala Lumpur. However, in Georgetown you can find the same accommodation for rent at half the price.
- Food cost: In addition to the fact that Malaysian delicacies are known for their juicy flavors, their prices are also extremely convenient for pocket use. Even a complete meal in an Italian restaurant rarely crossed the RM 90, thus giving you an idea of what the price in local restaurants could lead to! This is not more than RM 70 (in most cases). However, be prepared to pay more for food accompanied by alcoholic beverages.
- The cost of medical care: According to a WHO report on national health standards, Malaysia is ranked 50th. Kuala Lumpur has private and public medical facilities. Since most hospitals are equipped with advanced medical facilities and recruit experienced doctors and nurses, people all over the world come here to get the best medical services (in fact, Malaysia is known for medical tourism). Superspecialized medical centers receive MS ISO9002 certification.
The cost of consulting with doctors in private medical centers can be as low as $ 5. However, a specialist visit can cost $ 30. International health insurance covers up to 350,000 RM for a relatively lower premium than people have to pay in their country of origin.
Those who do not want to compromise with the standards of their lifestyle, but want to save money, should choose retirement in Malaysia. And before making decisions, they should conduct a thorough study of the available options.
NB: - 1 RM = 0.23 USD
