KEEN TO RETIRE IN MALAYSIA?... This is what I'd do FIRST before buying a property there
ฝัง
- เผยแพร่เมื่อ 3 ส.ค. 2024
- Today we talk about retiring in malaysia because right now home prices in SIngapore are so expensive and not everyone can build up enough for retiring here.
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0:00 Introduction
USD$288k needed to retire in Malaysia
2:00 If $350k saved
3:18 Living in JB
5:10 MM2H vs S-MM2H
7:00 Medical standards
11:30 Would you buy property in Malaysia
16:58 Buying property in Malaysia
Risk of poor built quality and maintenance
#propertymalaysia #property #retire #retireinmalaysia #retirement #mm2h
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About Josh:
Josh holds a degree in Accounting from NTU.
In 2016, he co-founded the financial education website TheAstuteParent to provide detailed insurance plan analysis and financial planning tips to help you kickstart your journey towards financial freedom.
As a ChFC Charterholder, Josh has agreed to be bounded by the ChFC®/S Code of Ethics. This includes, among others, acting in a professional manner when it comes to conducting due diligence on primary and secondary sources of investment-related data, and articulating his investment opinions based on his research and beliefs. Based on his research and analysis, he highlighted his beliefs and opinions, and illustrated the concept of time value of money, as of the time of the video.
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From my point of view as a former Singapore resident, Malaysia healthcare is on par with Singapore and way better than the UK. I have Dialysis 3x a week @ 280-400 RM per session. Dental care is really good; I just completed a root canal fix @ 1.5kRM while scaling is RM12
O. Food is extremely affordable. As for life in JB, I have a Condo at Larkin Perdana which I now rent out. Granted the rental rate is poor and there’s no point selling in this climate due to -ve equity. I currently reside in Emerald Residence @ Sunway Iskandar, close to the Tuas causeway. This estate is pretty decent and over 60% occupancy. If I was looking to buy for retirement I’d opt for the speaker’s choice; rent then buy. I bought off plan as I drank the marketing Kool aid. After the fault repair period there were issues with humidity, excess heat and leaking roof. All teething issues which have been fixed. I suggest getting a humidifier, good HP air conditioning units, tinted film for all windows to reduce the heat, and a good ID/Landscapist to make the living experience pleasant. After 3 years of living at ER there are a good number of people settling in Iskandar and catching a Grab at 5.30 am is no longer an issue
Thank you for your generous sharing =)
U trust u get your money back?
10 years ago I still have the same tot like the host here, tot Malaysia hospital are outdated. That was because I heard many horror stories when I was young. So my knowledge towards Malaysia medical stayed at 20-30years ago.
This perception however starting to change 10years ago when I accompany my parents in and out of hospital (both private and public) over the last 10 years. Surgeries, combating with cancer and also long term follow up with the specialist. One of the scene that I am most impress is how multi lingual is the medical team in Kuching. You can see doctors, nurses trying to explain the medical conditions , or ensuring the patients especially the elderly in the dialect the elder understand with such a patience and empathy. And I am not saying a Chinese nurse speak Cantonese, I seen Dayak and even Malay nurses verse in Chinese dialets and vice verse. I see a lot of 人情味 in healthcare here... Their priority is ensure each patients have a proper medical care that deserve. At the late stage of my dad's cancer journey, my dad is in home care, the hospital even reached out to cancer organisations (NGO) to get a volunteer nurse to pop in our house to check on my dad for zero fee. She will then update my dad conditions with my dad's doctor (from hospital) and liase with the pharmacist if my dad required any change in medicine based on his condition (both reduce and increase dosages) And she also make sure all of us as a children are updated with my dad latest conditions, especially when she knew my dad days are numbered. Getting us prepared for the worst and giving us many links where we could read on what to expect from my dad condition and mentally ready.
The follow up sessions (for my mum) was actually very efficient as well. Hassle free, Just show up on appointment time, no waiting, medicine is free for seniors citizen. (and we have serious over demand condition in Sarawak)
And recently I saw an article from New York, listed prince court hospital in KL as one of the top 10 hospital in the world. In SEA, our medical scenes definitely have changed a lot during our economy development. There are 3 top medical place that are famous for its medical standard internationally, that is Singapore, Malaysia and Thailand.
There are many foreign retirees or medical tourists (from US, Europe, Japan, HK, etc) that shared their experiences in TH-cam as well. Take a look at it and see how far things were from what we tot we 'used to' be and actual happening now. More updates, more choice for a better value and services for your medical need.
noted thanks for the sharing
I'm a Malaysian and Singapore PR. I have been travelling to and fro KL Singapore for past 20 years. I still keep my house in KL which I bought 30 years ago, currently rented out. Have another bought almost 16 years ago which I would live in when I travel back to KL. I'll go back to KL every month (except during covid I was stuck in Singapor) for about 10 days (I'm retired now) I personally feel, it is more comfortable to retire in KL as the cost of living is so much cheaper. I also have a condo in Singapore which my children are staying with me. Since, I already has place of my own is both places, it will be very comfortable if I sell of my condo and use it for my retirement but if I sell off my KL house and retired in Singapore, I'll have to spend wisely and budget myself 😅
Good sharing wahkwang
meaning retire in malaysia is the preferred choice ?
Thanks for sharing! Will work hard to save and invest to have a choice like you do, which is really awesome!
If a Singaporean has a passive income of RM30k monthly, what kind of living standard can he enjoy in KL?
@@henrylim5226a damn good one. Bear in mind the median household income - read household income - is only rm6k-rm7k p.m.. So rm30k will put you straight into the T20 category or top 20% of the population.
Great sharing, by both Gerald and Josh. Learnt a few tips here!
Hey Chris, great to cya around!
For anyone who love quiet city with access to hill for hiking, parks etc. Try Ipoh. There is direct flight to changi as well.
Retired in Feb 2024 in JB - Puteri Harbour. Imperia Condo is very well maintained (relatively!). We rent. In fact we rented the condo, as a stop-gap plan to rent a big landed house. In the end, we could not find a suitable rental house. So we turned our 2500sqft holiday rental into our main home. Even the best maintained JB condo has damp patches and creaky electronics. But we love the high quality security, condo cleaning crew, considerate and polite estate managers, nice neighbours. The posher Harbour restaurants all died during COVID. Now the mainly budget friendly restaurants mainly target the locals (and why not?). Nightlife has come back to Puteri Harbour - but it is now mainly loud, boisterous, moped crowds of young locals. Over time, I expect this noisy exhuberance to be reined in by the local police. But for now- let them enjoy. We drive 12 year old and 35 year old cars - so less likely to be stolen. We pop back to Singapore one day a week on average.
Thanks for sharing ur story
I am a Singaporean who goes to JB quite often. I own a few properties in JB. 1 as a retirement home (No condos for me!) and the rest are commercial shophouses at selected area which are leased out. Standard of living is really affordable. Quality healthcare can be had if your select the right ones. Of course for more complex health cases, you may wish to come to Singapore. Food over at JB is good too. Planning will enable you to beat the jam at the causeway. I earn my income in Singapore and spend it in Malaysia (3X conversion). Live the best of both worlds. There are MANY Singaporeans already doing what I do now and are running businesses in JB. Naturally they bought over the working culture and systems to JB. Quality naturally improved. You need to be streetsmart and alert to live and prosper in Malaysia.
Good sharing 👍
Which area did u choose to buy in JB?
Most Malaysians don't take safety for granted, we are vigilant at all times
A huge number of well-known medical specialists in Singapore are actually Malaysians.
Im aware =)
standards, equipment, facilities in sg is likely better
Very good video! Thanks! Loo
Thanks Loo =)
Hey, thanks for stopping by Loo!
I’m msian. I came sg 30yrs ago and study at poly. Got scholarship to pursue my degree and graduated n serve my bond. I’m a pilot n earn good salary allowing me to buy a few properties back in kl plus my own in sg. I hv not given up my citizenship n look fwd to retire in kl, collect sg rental. Many msians r doing like that. Thank u Singapore
Any advice for aspiring pilots?
@@JOSHTANLIVE advice is plan ur retirement early n make sure ur plane dun go missing like MH370
Think when it comes to property the old adage of the 3 most important aspects being location location location applies in Malaysia too. As an observer who scrolls through MY propertyguru and travels Malaysia often, over time i do notice that there are some neighbourhoods that keep or appreciate in value and some just depreciates.
If u want to retire in M'sia lowering your expectations is crucial. If u want to keep your standards high, then retire here. But be prepared to pay through your nose. And it's not going to get better in terms of cost of living with the foreigners coming in.
Actually the first thing that you need to do is to ensure that you can secure a long term visa, if not don't even think about buying a property.
Hospital staff competency are much better and lower risk in Singapore. I have more confidence and happier here being a senior above 50's.
point of view noted =)
Every buyer of Forest City has lost 90% of their investment. Tan Kin Lian has 1 unit there 😅
Oops.. verified tankinlian.blogspot.com/2018/01/my-views-about-forest-city.html
Staying JB is tough with the heavy custom traffic. I'll rather choose to fly KL or Sarawak.
i observe singapore medical facilities more advance in facade, experience and machines. for cheaper long term medical treatment maybe like high blood medication, malaysia may be cheaper. so, depends what kind of treatments.
Oh ya medication pills Malaysia much cheaper. I buy panadol there also lol
I know garrel. He use to train in cck . He was training in cck stadium every weekend.
unless you are Malaysian who has Singapore PR here, else I won't suggest buying property for retirement, renting is a lot cheaper, and you can move from town to town or condos to condos. the Malaysia properties keep dropping over years, and also RM depreciated YOY. to get a better feel, ask the real retirees who retired in Malaysia and not the young men trying to think of their retirement in Malaysia.
Ya the Ringgit depreciation is a big concern to value preservation
My husband’s family is in Malacca. I learn from my sis in law that service n speed is good there . That is when u go to a private hospital
I’m familiar w Melaka. Mahkota hospital?
Parkway is a Malaysian entity. Across the group, equipment would be the same; skills sets wise, there is good and bad (e.g. the Prof in SGH and Kopitiam owner) in both countries, it's really down to the individual doctor
POV noted. Facilities are different imo. Training quality impacts skill
I understand that medisave can be used for certain private hospitals in KL and JB etc. What about our shield plans from our private insurers, which are the ones if any that cover chronic illnesess and hospitalisation (not as an accident plan) in malaysia ?
Good question. Ive seen some IP riders w provisions but havent really look deeper into them yet
@@JOSHTANLIVE Josh it will be really nice, if u can delve deeper into these second level details in a series on retirement :)
How about Penang~? After comparing Johor, KL, Malacca & Penang, i find Penang (island) is more liveable, primarily it's safer, most of them speak English incl taxi drivers, hawker, pretty much like in SG~ it's not congested like KL and infrastructure is better than in JB~
Penang maybe further but it only takes 1hr15 min flight~ alternatively, like my friend that took public transport to Senai airport and took a domestic flight to Penang which the flight only cost S$30~ since it's retirement, i guess you would have all the time~
You’re going to love tomorrows episode :p
Selangor properties , foreigner can only buy values more then Rm 2m , kl is Rm 1m , if not wrong .
KL outskirts are 700- 800k ++
Rent is good, win win situation.
Yes. It gives invaluable flexibility. Only risk is if price surges upwards but hey risk of buying a dud seems higher
Yup. Buy the milk not the cow
Don’t bother. Just rent long term if really like. It’s cheaper.
I would think so too
I personally don't like the idea of worrying about landlord issues. Before I bought my place, my wife I end have been renting for ~4 years or so, landlords and control were always a stressor...
I do like Josh's idea of rent first then buy if really like the area
Private hospitals in Malaysia are advanced. Definitely on par with Singapore government hospitals. Malaysia is Not Cambodia Or Laos lah.
FYI Dr. Mahathir do hearts surgery in Malaysia government hospitals. ( I don't like Dr. M very much)
Malaysia government hospitals also got Top class specialist. You need to know which one. You will know if you do proper research. Just the appointment is not easy.
Try Eco botanic for property in JB. Near to Second link.
Oh I hear stories from doctors who are from malaysia, thats where I formed the view that medical standards there are not too good.
Maybe my next road trip i look for eco botanic to see see haha
Yes Msia doctors very person dependent, if you know a good one then ho sei already. Cause there's also a lot of doctors who got their certs from Russia which aren't as tough to pass as Sy schools like uni of Malaya I was told by my wife (who's from east Msia)
This episode had interesting learning points, especially about Malaysia's cheap healthcare.
Probably renting in JB and renting out SG property would be the most ideal if retirement is a struggle.
Question, does annual travel plan cover insurance matters and health care related matters if one was to travel back and forth from Malaysia or any particular country?
travel insurance annual is 90day per exit if im not wrong. But more importantly, it covers if we are residing in SG. Cant be used if residing overseas.
Travel plan is for emergency treatment. Not covered for any critical illness treatment. However your singapore hospitalisation plan would cover Malaysian hospitalisation. I am an insurance agent. A client had stroke in HK and was hospitalised for one month, Claimed RM100k but later come back to KL to treat.
I am 57. Wanted to purchase a property in malaysia. My friend bought forest city , and regret it straightaway. Now it cost $170000 rm. Wanted to buy R & F princess cove. But afraid it is going to be like forest city. R&F cost 2bedder cost $700000. Can recommend which developer thst are good. The mall is still very quiet though.
Ya too many disappointing stories
Because Malaysia Boleh!
Free flooding in Southern Malaysia
Tia kong got Indo, Thai, VN n Philipines that welcome everyone
Have u considered your children and their education/future career staying in Malaysia if u have young children?
I imagine retirement to be when kids are grown up? =)
International school. They grow up more confident and become more successful vs sg rat race. So many prc bring in their competitive culture here in school. Only top 20% go jc, x% go express, top school, top neighborhood school.... All these bs while the best indicator for success is the parents wealth😂
Come buy property come buying more
Safe or not retirement in Malaysia so many criminals committed by unknown foreigners??????
It is an exaggeration indeed. In the past yes, far far less now.
Singapore is still my choice for retirement.
Me too, for now =P
I am working on reaching MM2H qualifications. it is a bit too high.
which area would you choose to stay if you can qualify?
@@JOSHTANLIVE my wife and I are planning to stay in KL as that is where my wife is from. but giving that the qualifications are so high now, we are thinking of applying for a spouse visa.
@@ngpb17 is selangor indeed better to live in than KL? Any insights? curious coz I hear cyberjaya and petalingjaya quite abit.
All the best too =)
@@JOSHTANLIVE I do not know. I have only been in KL, but I have been told that east malaysia is very nice as well and cheaper than KL. specially when it comes to MM2H visa qualifications.
Jiayouuuuu!! My wife's still Malaysian and Singaporean PR so maybe she shouldn't try to be Singaporean for this reason hor hahaha
Buy near future rts Station,
Im still wary if Johor side will meet completion projections or not =P
@@JOSHTANLIVE construction already in progress. every time u cross causeway u will see
Definitely will complete 2026
Skarly change political party then stop halfway, GG! But choi choi touchwood. Hope it completes for everyone's sake! 🤗
Taman Muda in Selangor is dirt cheap- why??😂
Flooding problem
When it's dirt cheap, gut feel says that confirm the locals know something funny about the place 😅
Flooding, a no no area.
Both of you are discussing malaysian property at surface level.
Need to spend time and effort to know alot more details before making right
Decision
of course.
Do leave details or case study numbers if you have
Never buy any property in malaysia
These are not in depth discussions on property or retirement
I would take it with a pinch of salt.
Certainly. If you've some experience, would you like to share some views on this topic for all to learn?
Any one has any feedback on Senibong Cove?
No rental demand. Only meant for own stay. To me, not good investment. Only buy if u like the surroundings.
Sentosa Cove wannabe lol. The is a nice atas FNB area but pricey. Go to the old jetty area is cheaper.
Singapore medical is getting worse. First hand experience
Problem is maybe JB's is worse
I heard some terrible experience from my friends from SG too... Look like a huge part who is whicj nurse/doctor u get too
..most people make the mistake of thinking that "Msia is Cheap" because they compare prices with their domiciled currency.
But to the Local Msians, a lot of the properties are way over-priced.
The minimum purchasing price set by Authorities on Foreigners, ..appears to be a Disguised Discriminatory Pricing which disadvantages Foreign-Buyers when these Non-Msian Property Owners sell the property eventually.
Beware of the Bobby Traps
good sharing
Where’s Gerald TH-cam channel?
Check Gerald here youtube.com/@GeraldOng and also on youtube.com/@Bgbadminton 👍
Retire in jb is good .
Question is would you also buy a property there?
@@JOSHTANLIVE already bought a few.
@@joejoe6136 which area did you buy? what advice will you give to someone buying now?
I think retiring in Penang (Island) is better.
I am sorry to throw dirty water on your dreams of retiring in Malaysia. To me Malaysia is a Muslim country. I do not discriminate against Muslims in general, but based on my observations of the behaviors of many Muslims around the world (perhaps not Malaysian Muslims specifically), I personally have no desire whatsoever to move to live in any Muslim countries anywhere in the world. Add to that the anti-Chinese sentiments and behavior exhibited by some Malaysian leaders and people among the general population, I have absolutely no desire to live in the country of Malaysia, no matter how good you think of that country. My wife and I live comfortably in Bangkok today after moving here upon my retirement. Language is not a problem here as we have learned how to speak the language over the years. Written Thai is a different matter altogether. But then we do not expect any Thais to learn written Chinese as well as it is a very difficult language to learn for foreigners.
Think leave the religion part of it out when making an opinion. Stay respectful k