What is Life Like in Neighbouring Malaysia?
A couple can live a rich life for around S$1,760 per month in Malaysia
Singapore may be a close neighbour to Malaysia, but a long-term stay visa is essential for us as foreigners to live abroad. According to the “Malaysia My Second Home Program (MM2H)” Long Stay Foundation, “Countries and regions wishing to have a long stay: 2017”, Malaysia was the No. 1 country in the long-stay category for 12 consecutive years from 2006 to 2017. MM2H is a visa that can be obtained by anyone, regardless of age or religion as long as economic conditions are met.
Malaysia is also setting a target of joining the ranks of developed countries in 2020, and the country is focusing on tourism, IT, natural gas, and minerals. As a result, prices have been rising in recent years.
Prices are rising in Malaysia
Prices are rising year by year in Malaysia. The growth of the consumer price index is also remarkable. If the consumer price index was 100 in 2010 but climbed to 120.7 by October 2018, which is a 20% increase in 8 years. According to the IMF’s 2017 announcement, 129.09 is to be expected by 2020.
Condominiums with 24-hour security and pool and fitness facilities can be rented from roughly S$754 per month at studio furnished properties in the capital city of Kuala Lumpur (at about 50 square meters).
Another factor behind the popularity is improved medical conditions. In Kuala Lumpur, there are many hospitals where the medical environment is relatively good. It is possible to apply for overseas travel insurance and overseas medical treatment expenses when treating patients. You can buy cold medicine at a nearby pharmacy.
Malaysia has plenty of food
Malaysia is also a country with a street stall culture. Although the country has a large amount of Muslims, many ethnic groups such as Chinese, Indians, and Arabians live there, so you can enjoy various food such as Chinese food and Indian food at food stalls. Because of the large number of overseas Chinese, it is possible to enjoy authentic Chinese food at food stalls.
Alcoholic drinks are relatively expensive compared to other drinks, and food is relatively affordable.
Thinking of buying a condominium? Rent locally first
Malaysia is also attracting attention in terms of real estate. Many people who plan to move to Malaysia will probably start with a residence. They are encouraged to rent a condominium before buying one.
Fortunately, condominium rentals in Malaysia are very simple and it is easy to rent furnished properties for a short period to a long time. It is best to consider buying a condominium after living there and knowing its location and value.
This article was originally posted on November 23rd, 2018