bakedbean

You mean the insurance? Well you get what you pay for I think. It's cheaper than the UK for sure.

We went for cheap plans. I'll go and have a look up tomorrow how much my one was, just to give you some idea. Of course, with a cheapy plan, you need to make sure you have plenty of savings in case the policy doesn't cover everything. As you get older, more goes wrong with body unfortunately.

I'm living up in the retirement belt in the north/north-east of the island. Majority (though not all by any means) of expats seem to live up Bt Ferringhi-Tg Bungah-Tg Tokong-Tg Pinang area. Georgetown traffic is a real pig especially during rush hours so we hardly go there.

Anyways, best plan is to take a holiday here and see if it feels like a place you want to live in. Some like it, some don't. And remember that Utopia does not exist.

Davita

As a sometimes visitor to this site and MM2H holder, but living in Bali, may I cut in with some of my experience.
I've lived in Fort Lauderdale, Florida and Scottsdale, Arizona on and off for over 20 years.
First thing is there is no comparison to Asia. To have a happy life in Asia, generally, pragmatism needs to go out the window...relax and enjoy.

The primary reason for UK and USA expats to reside in Asia is cost...it means one can live a much better lifestyle for less cost than UK or USA. Of course, this will depend on the lifestyle one chooses...that would need to be defined by the OP for others to make comparisons.

For a non-USA citizen the health insurance cost there in retirement will soon deplete one's pension and savings....never mind if something goes awry.
Health insurance, or even non-insured costs in a hospital in Malaysia, is probably affordable.

The weather in Malaysia is comparable but in Florida one has to have hurricane insurance, and hurricanes occur often. Also, non-resident Floridians pay high property taxes. However, it should be noted that property in Florida is at an all time low so that is a plus.

In short, Malaysia offers a great MM2H program.
After visiting Penang many times, which is nice as it is still very British in context, I recognized, for me.... just not as good as my lifestyle in Bali. However, Indonesia does have a visa issue, even if retired with enough income.

ex reg

That's interesting Davita.

I'd just add on the cost side of things.
We spend 6 months in UK and 6 months in Singapore and taking the cost of accommodation and transport out of the equation for us it is much more expensive living in Singapore than UK.
We think it might be the same if we were living in Malaysia although the difference would be a lot less.

Adding in housing and cars then UK would be even cheaper to live.

Will be very interested to see other replies on this especially from you lot to the north of us.

bakedbean

What are you trying to say? Are you saying that Malaysia is more expensive than UK? Or something else?

bakedbean

Insurance.
Brief summary of my plan, which is the cheapest one that Allianz offers.
I am female, in my 50s, and in generally good health <touch bamboo> Insurance companies tend to exclude any conditions you may already have.
I am currently paying a tad over RM 1000 per year. Covers the following:
Hospital room and board RM 110 a day
Intensive care unit RM 350 a day
Surgical fees - as charged*
Hospital supplies - as charged*
Pre Hospital diagnostic test - as charged*
Emergency accident outpatient - as charged*
Out-Patient cancer treatment - as charged* (also note below)
Out-patient kidney dialysis - as charged*
Post hospitalization treatment - as charged*
Home Nursing Care - RM 500

* As charged but there are overall annual limits and lifetime limits
Note: I know for a fact in the UK when I was there with insurance - cancer treatment always excluded in policies

In Malaysia, also got the added benefit of getting anything done usually straightaway. No waiting months for an operation here.

Obviously above amounts are not going to cover everything but for RM 1000 not bad I think.

bakedbean

Comparison Singapore to Penang pricewise and otherwise.

We go down to Singapore from time to time. We have found eating out (generally speaking) about double the cost of Penang. Drinks in bars double the cost of Penang.

Supermarket foodstuffs much cheaper in Penang. Malaysia is a food producer. Singapore has to import everything.

Petrol in Singapore much more expensive than Malaysia.

Private hospital charges in Singapore massively more expensive than Penang. Having said that, you can get specialized treatment in Singapore and it's world class treatment for sure, though don't like the attitudes of some there that treat you like a statistic rather than a person. More friendly in Penang.

Cost of property in Singapore way way higher than Penang island**. Probably why Singaporeans are buying so many properties here I guess.

**In turn, Penang island property prices are I think the most expensive in
Malaysia, maybe with the exception of KL.

Apart from all the above, I still enjoy going down to Singapore for short breaks... bloody expensive though

Davita

I didn't include Singapore in my previous post as I seldom go there. It is a bloody expensive city but if I won the lottery I would certainly like to live there for a while.
My last visit, for an Indonesian visa, I elected to buy an extra ticket back to Jakarta than pay those hotel prices in Singapore.

bakedbean

Yes, me too, Davita. I enjoy going down there. I enjoyed living/working there though it's a bit of a pressure cooker to work there.

I only mentioned Singapore as exReg was mentioning, but cannot figure what he is comparing - maybe it's me <doh>. Anyway, tak apa.

Any road, I guess....

Into my third year in Penang and I still like it, so I guess it is "home" now.

ThomasK

You can also explore insurance providers such as ING, Prudential and Chartis.

http://www.insured-life.com/ing-insu...e-premium.html

http://insuransprudential.wordpress....tial-malaysia/

http://www.chartisinsurance.com/pers...32_369427.html

PenangIsGreat

Hi ladies and gentlewomen,

Hope you are all well this fine cool day. I have to say that I love Penang. I discovered Penang in 2006 after I met a wonderful person there that has brightened my life considerably. My first impression of penang was mixed feelings... There was alot of things that I liked but also alot of things that I didn't like. The things that I didn't like at the time included the hygiene of their eating establishments and the mosquito's. Yes, after rushing to the toilet a few times a day and then waking up with misquito bites all on my nose, I felt that I was going to give up chasing after my love one and flee back to London. The sun was way too hot for my body to cope and the rain were like storms, with thunder and lightning actually shaking the bed that I was sleeping in.

Alas, how times has changed now. Penang has improved considerably in the last 6 years and I have seen alot of beautiful bungalows and condo's being built. Fantastic shopping centres such as First Avenue in Georgetown and Queensbay Mall in the south of the Island. Tesco's near Queensbay is fabulous and the night life in Batu Ferringhi is wonderful. I have learnt to love the Penang food. My mouth is watering when I think of the different cuisines that are available and usually at a very cheap price. I stayed one night at Rasa Sayang Hotel and my mind was absolutely blown out. Such a lovely hotel with an extremely nice sandy beach at the back. I remember this american guy renting out speed bikes and the malay guys were getting people to try their hang gliding via a speed boat tugging you along. I have also learn to love the sun again, nice and hot which is perfect for shorts and t-shirt.

Like sensai BakedBeans has mentioned, Batu Ferringhi is the tourist and expat belt. Tanjung Bungah and Tanjung Tokong are very nice areas, as are pulau Tikus and Gurney Drive. Georgetown and the heritage site is being redeveloped by the state government under Lim Guan Eng (opposition to deferal government). The budget deficit has been significant reduced and Monorail being implemented will be a matter of time. Gelugor in the south is becoming a very nice area too and Batu Muang to the south of the island is the silicon valley of Penang and where probably 50% of the population work.

Property prices in Penang used to be cheap but for the past 5 years has risen 50 to 100%. Penang Salary is around 3,000 to 20,000 depending on your job role. Penangnites are generally very wealthy, even though they don't like to show it. The pound which used to be exchanged for seven ringgits are now exchanged for 4.9 ringgits (euro financial crises). I can only see the property prices increasing in Penang due to accomodative interest rates, low buying costs, and 0% Capital Gains Tax after 5 years.

I thoroughly recommend Penang to absolutely anyone. It has a diverse mix of cultures and ethnic groups. The Penang people are generally friendly and nice group of people. Crime is low and the people work hard for their money. 10 ringgits would usually buy you a meal in a standard eating establishment, 4 ringgits for a low cost meal, and 70 ringgits if you want to eat a posh 5 star sea food buffet at E and O Hotel (Wednesday special rate). All the major franchises are here now, including Starbucks, Tescos, Macdonalds, KFC, TGI Fridays, Burger King etc. Sea side is very nice at Batu Ferringhi area, but Guerney Drive and Queensbay area's are nice too. Taking the boat 1.5 hr trip to Langkawi where beer is only 3 ringgits and the beaches are still blue with white sand. Small livable shacks by the beach usually cost about 40 ringgits or so.

I know a couple called Alan and Beatrice who goes to Penang during the winter months and goes back to London during the summer months. They live at the condo built by ivory homes just opposite Island Plaza shopping centre. I definitely plan to retire there...as long as prices don't keep on rising to as high as Singapore or Hong Kong. If you want to live like a king, err...maybe a baron then, Penang is definitely the place to be. The education is rock solid with International Schools, The english speaking population, the low cost of living, and the fantastic fact of having no winters, make Penang Island one of the best places to retire in my honest opinion.

That is my 2 cents! Wish everyone the very best and may the coming days be the happiest and healthiest to you all!

bakedbean

Hey, thanks for your thoughts

Property prices are mostly going up, driven by locals speculating. Foreigners have the 3 year lock-in period so not us to blame, though they tend to try to point finger at us in the press I note.

I get the feeling that the supercondos are not faring so well. We went and had a look at some Infinity units (just out of interest, not buying) and surprised that prices have in fact fallen, and the condo was like the Marie Celeste...very empty.

Yes Tg Tokong is a busy little area, plenty of shops and banks and eateries. Tanjung Park condo is well situated though I suppose you know that they will be building City Mall right in front of it? Not that you can get away from new buildings in Tg Tokong.

So where are you based now? Are you in Penang working? I am retired as you can see.

PenangIsGreat

Hi BakedBeans,

Yes, property prices are mainly driven up by locals speculating but also the fault of property developers by selling at expensive prices but offering many discounts at project soft launches. This gives the impression that buyers will most likely profit. The locals that have missed the property wagon will no doubt point fingers at foreigners but that's the case in Singapore and Hong Kong as well. The Super Condo's in my opinion are way too expensive especially during the euro crisis. They are reserved only for the rich as speculators will not usually pay more then 1 Mil for a condo. I was so shocked at looking at a Bungalow by E and O in Tanjung Tokong in 2007 when it was priced at 1.2 Mil for about 4500 sqft. Now it's selling for 3.2 Mil

I am based in London actually and commuting to Penang 2 or 3 times a year. When I do come to Penang, I tend to stay in Gelugor area as that's where my missus and family is. As I come for 3 weeks at a time, I have come to know Penang abit more. It definitely has grown on me and I really love this place now.

Yes, congratulations on embarking the best job in the world and at a very young age I see. I firmly believe that life is short, so you do have to make the best of it as much as you can. See the world, try different foods, adopt an ambition, look after a pet dog, do the things that you've never done before. It's all part of the adventure and things that make the world go around.

You have a great day now and check out the blue sky and green trees.

bakedbean

I think these days the Brits and Europeans in Europe find it expensive because both Sterling and Euro have taken a dive, and it may get worse before it gets better uh?

Rich is relative. I know a few expats who have bought at the E&O development. I think if you've had the opportunity to work out in south east Asia with some strong currencies to save, and low income tax too, it's a bit different. We found it very difficult to save money in the UK, mainly due to the high income tax. So much easier for us when we moved our business to Singapore. If we were still in the UK, I'm sure we would still be working our socks off.

Quite a lot of Aussie MM2Hers these days too. The Aussie dollar very strong currency.

Yes... life is too short. You are very correct there

Scoobydo

Thanks All for the info,

It's good to hear so much info from you all.
The more I hear about Penang the more It sounds like to place to spend long periods in the sun in retirement.
(This is a long way off yet but it's good to do the research.)
I have been to Singapore a couple of years ago for a few nights to break up a long haul flight.
I really love Singapore, so I know I will love Penang.
I am seriously going to book flights for next August for our Anniversary,

I cannot wait!
The Rasa Sayang Hotel I had actually looked this hotel up last week when surfing the net, sounds perfect!


Once again many thanks for all your input on life in Penang.

bakedbean

If you're planning for retirement,think about hiring a car too and looking around. You may not get wall to wall sunshine in August and you may get haze from Sumatra. In any case, it's way too hot to sit out in all day.

I was over at Batu Ferringhi this afternoon and drove past that hotel. It's stuck out a bit but has a good reputation I believe. Yep, hire a car.

Batu Ferringhi is more of a holiday place, and more mixed racially (not so Chinese). There's a big loud mosque further into Bt Ferringhi and that attracts a lot of holidaymakers from the Middle East during summer months. I quite like the area near Eden Parade...not so far away from Rasa Sayang.

You'll find that Penang is not as squeaky clean as Singapore and, for the most part, not so organized... so don't expect Singapore. The central part of Bt Ferringhi is a bit rough and ready though some nice properties, houses and condos, around the outskirts.

Gosh, there's so many different areas. Straits Quay, which is a new marina and shopping complex in Tanjung Pinang, part of Tanjung Tokong, is very Singaporesque. A nice place to stroll around and imagine owning a big yacht