Cheap as hips: why Malaysia is the best place for Chinese to retire
Sunny skies, tasty food and cheap hip replacements – the Southeast Asian country is a haven for elderly expats. But for many Chinese, the financial climate is as important as the favourable weather
He expects to complete the project in 2020 and if successful will consider building more resorts across the country. While that might make his retirement sound busier than most – he is also planning to direct a Tamil feature film later this year – it was this chance to invest, and not only the cheap and delicious street food, that whet his appetite for settling down in the Brickfields area of Kuala Lumpur – a spot many expatriates refer to as Little India.
Iggy is far from alone. Not only has he got family ties to his new home – two of his children married Malaysians – but he is just one of a burgeoning number of retired foreigners to be drawn to the country, which is fast gaining a reputation as the “best retirement spot in Asia” (a title granted by International Living magazine’s recently released Annual Global Retirement Index).
Among this influx, Chinese are one of the most significant groups. Indeed, so great is the Chinese presence that Malaysian media have talked of a “third wave of Chinese migration” (following the first wave who arrived during the Malaccan empire in the 15th century and the second wave in 19th century British Malaya).
So what is it exactly that is making Malaysia such a haven for pensioners?
SECOND HOME OR INVESTMENT HOME?