Under the tide of immigration in Hong Kong, many people choose to immigrate to western countries, but if you want a lower cost of living, some places in Southeast Asia are also good choices. As a popular tourist destination for Hong Kong people, Malaysia has low prices, similar food and language, and many Hong Kong people are considering moving to Malaysia for retirement.
The ideal place to retire?
American living magazine International Living published the 10 best retirement countries in 2021, evaluating suitability for retirement based on 10 scoring criteria, including housing cost, retiree benefits, ease of obtaining a retirement visa or residency, recreation, development, climate, healthcare, governance, opportunities and cost of living. Malaysia, which has a “Second Home” 10-year residency visa program, ranked seventh with a score of 79.8.
Housing Cost
In fact, the cost of housing in Malaysia is indeed cheaper than in neighboring Singapore. iProperty.com.my is one of the leading property websites in Malaysia. They recently published a report on the demand trend of the rental market in Malaysia, which mentioned the cost of housing in Malaysia.
| Room type | Median rent |
| Condominium | RM 1,800 (~HKD 3,355) |
| Apartment | RM 1,000 (~HKD1,864) |
| Serviced Residence | RM 1,600 (~HKD2,982) |
Housing in Malaysia is even cheaper than public housing in Hong Kong, and the space is relatively large too!
Rent a house
For renting a property in Malaysia, the minimum lease period in Malaysia is one year. For foreign tenants, it is more common to sign a two-year contract, and the rent will be cheaper than a one-year contract. Also be aware that landlords may require tenants to pay a deposit and security equivalent to about 4-5 months rent in advance. Fortunately, even though there is no rent control in Malaysia, there is a problem of oversupply of housing locally, so there is generally no need to worry about a sudden surge in rents.
The following are apartment rentals in 4 major cities in Malaysia (February 2021):
| Area | Median monthly rent for a condo |
| Kuala Lumpur | RM 2,027（~HKD 3,900） |
| Selangor | RM 1,323（~HKD 2,500） |
| Sabah | RM 2,415（~HKD 4,600） |
| Penang | RM 1,729（~HKD 3,300） |
Purchase property
Although the property price in Malaysia is very cheap (national average property price = RM430,000 – about HK$820,000), the local government has restrictions on foreign buyers, and the property price threshold varies from state to state, ranging from 40-200 Thousand ringgits.
Below are the prices of detached and semi-detached houses in 4 major cities in Malaysia (Q1 2021 data):
| Area | Median house price |
| Kuala Lumpur | RM 2,500,000 (~HKD4680000） |
| Penang | RM 910,000(~HKD1700000） |
| Johor | RM 297,000 (~HKD 560000） |
| Selangor | RM 540,000 (~HKD1010000） |
| Area | Median semi-detached house price |
| Kuala Lumpur | RM 2,130,000 (~HKD 4,000,000） |
| Penang | RM 700,000(~HKD1,310,000） |
| Johor | RM 471,742 (~HKD 880,000） |
| Selangor | RM 1,168,000 (~HKD 2,100,000） |
Living cost
The cost of living in Malaysia is very low, compared to neighboring Singapore, both prices and rents are much cheaper.
| Major expenditure classification | Average cost per month (RM) |
| Food | Take-out：RM350 – 500（per capita）Cook their own：RM350 – 450（per capita） |
| Transportation | Public transit：RM200 – 300Drive：RM1,200（Include car）or RM300（Does not include car） |
| Entertainment and living expenses | RM300 – 450（Varies from person to person） |
All things considered Malaysia is one of the best options to consider, if you’re looking for a home away from home. Be sure to keep up with us for information on Southeast Asia.
Property investment is a long-term game and planning is the key. Watch more videos for a better decision!
To receive more property information relating to the UK, Canada and Hong Kong, sign up to our newsletter at the bottom of this page.
Follow us on:
👉 Facebook: https://www.facebook.com/Denzity-110540191579297
👉 Instagram: https://www.instagram.com/denzity_io_global/
👉 LinkedIn: https://www.linkedin.com/company/denzity
