America Australia Britain Canada Cyprus Dubai Egypt France Greece HK Italy Japan Mexico NZ Portugal Singapore Spain SA Thailand

Cost of Living in Malaysia

by moveforward on August 10, 2009

costoflivingMALAYSIAThe cost of living in Malaysia is exceptionally low considering that it was newly referred to as a newly industrialized country. Taxation is kept at a minimum with no inheritance tax and no capital gains on assets. The Malaysian Ringgit is currently struggling to keep up with other currencies, which is the main reason why commodities and housing are cheaper in the country. Its capital city, Kuala Lumpur, has become a sort of shoppimg mecca for clothes, electronics and other consumer goods. Expatriates from the United Kingdom will enjoy the very affordable living conditions since remittances coming from other countries are not taxed.

Foreigners are actually welcome to invest in Malaysia since the government has just recently banned short selling of properties. More opportunities for business and employment are more open and present in the country. Homes are relatively sold lower than expected with the intent to boost the inflow of foreigners bringing pounds and dollars.

The Malaysian government is doing very well in providing for the needs of expatriates. Buying new cars or items will not be taxed including the ones brought from outside the country. Banks also give loans for housing and business. Malaysia now has a GDP amounting to over 300 billion euros. The Malaysian economy is projected at a GDP growth rate of 5.3%.

Food and Drinks Costs in Malaysia

Beef, poultry, pork and mutton are the most common meat products in Malaysia. These are sold widely, fresh and at very low rates. Most communities have wet markets that sell all types of meat products, sheep, goose and duck in addition to fish like tuna and sardines. These are all sold by weight. Most seafood like squid, cuttlefish and octopus are exported to other countries.

The price of meat and fish in the UK can only cost half as much in Malaysia. Fruits and vegetables are also present all-year round such as lettuce, bell pepper, papaya, kiwi, lychee, durian and mangosteen. These are also generally harvested for export purposes.  In general, it is one of the most inexpensive countries in the world to live in yet despite the cheap costs, it is also home to the fanciest five star hotels in the world.

The average Malaysian spends around 150 euros every month on food. Eating out is very affordable although there are also high-class restaurants that are rather expensive. Curry, noodles, stew and dried fish are just some of the common delicacies eaten by the average family in Malaysia. These meals could cost only around 2 euros but if homemade and ingredients are bought from local markets, overall price could go down to less than one Euro per dish depending on the meat or fish. Tea and milk are common beverages and are also very affordable.

Clothing and Accessories Costs in Malaysia

Silk and cotton is cheap in Malaysia. The batik is a traditional piece of clothing made of cotton which is sold at very affordable rates or in bulk. Shopping in Malaysia can be fun since there are several types of places that sell various items, wares and trinkets. Expatriates can visit night markets and flea shops where there are traditional and modern accessories at very competitive prices. Malls and shopping centers also house several designer labels that cost significantly less compared to the ones in the UK, again mainly due to the lower costed Malaysian Ringgit. Malaysia is ranked 96th out of 143 cities in terms of expense and cost of living.

Even if expatriates shop in Kuala Lumpur, they will most likely find prices very fair or cheap. The same item in the UK can cost around 20% less in Kuala Lumpur. Other accessories such as electronic devices, footwear, computers, household items and the like are also very affordable. Locally made products are usually of good quality. The Chinese market has not yet entered the scenes but once it does, prices are expected to plummet.

Housing Costs in Malaysia

Malaysian housing costs are low even in big cities like Kuala Lumpur. One can enjoy more space at very affordable rates in medium-sized homes or two-bedroom apartments. Apartment rentals average around 100 to 150 euros every month. House rentals range about the same.

Most of the locals prefer to live in suburban areas since these have more space, is still close to the city plus they get to have the opportunity to permanently own the property. Foreigners are encouraged as well to migrate into Malaysia. There are housing authorities and banks willing to give loans and taxes on property ownership are almost nonexistent.

Expatriates are eyeing on quality apartments and condominiums deep in the heart of the city. These are currently in shortage but the Malaysian government is actively making efforts to quickly make up with the intent to increase the influx of foreign investors. At present, the country wants more foreign investors to own land and property that help boost overall GDP and the real estate market. Penang and Johor have great scenic locations with very exceptional rates on rental and ownership.

Services Costs in Malaysia

Internet rates, telephone bills and other technological service providers are excellent in terms of quality and price. There is good internet connectivity in nearby provinces and the city outskirts which relatively costs 8 to 10 euros every month. Transportation is also good especially in the major cities. Other smaller areas still need more improvement in terms of road accessibility and transport routes.

Insurance schemes are popular especially for foreign investors and expatriates. Most policies offer very low rates with the widest selection of benefits possible in addition to the almost nonexistent Malaysian tax.

Health care is also advantageous since the government is currently investing a lot in improving facilities and services with the main objective of enforcing medical tourism. Public schools are partly subsidized by the government while there are also private schools offering quality education at higher tuition fees. Child care services are available in Kuala Lumpur while other cities are also beginning to build more.

Employment Costs in Malaysia

Expatriates and foreign investors will not have a problem seeking employment in Malaysia. Especially if their specific fields cover business, technology, trade and the stock market, most companies are willing to hire immediately. There are also a number of business owners who are looking for partners to start companies and prototypes.

Ever since the lifting of the ban on short selling of properties, the Malaysian market is beginning to improve constantly. Growth rate was estimated to be around 6% during the past year. Medical doctors are also needed for the budding healthcare enterprise. At present, the employment rate in Malaysia is estimated to be 96%. This is a testament to the burgeoning economy and the growth of Malaysia in the Far East.

Related posts:

  1. Cost of Living in Japan
  2. Cost of Living in Mexico
  3. Cost of Living in the Philippines
  4. Cost of Living in Thailand
  5. Cost of Living in the United States

Latest Forum Discussions

Converting my Husband's Australian Electrical Qualifications to Californian
Im an aussie expat who lives and works in america- (SF CA) i have a J1 and have recently married my partner of 10 years after having to live apart...

Anyone from Monterrey
Just wanted to see if anyone here is from Monterrey N.L? Just wanted to pick your brain if you don't mind. A few things on my mind are: 1....

Hairdresser needed?
Hi, my name is Stephen and we are planning to move to France this year, we want to live within an hour of Bordeaux. I am a hairdresser and want to...

{ 10 comments… read them below or add one }

syed salman zaheer November 24, 2009 at 2:19 pm

sir, i am really surprised after reading all about malaysia , its such a wonderful place to live . honestly i am thinking to shift over there.good luck and long live to malaysia and good luck to mahatir muhammad who has made this country one of the best in the world. malaysia please welcome me ,i am going to make you my second home.

Wajahat December 4, 2009 at 7:13 pm

We are a family of three, we wish to migrate to Malaysia. can some one guide me as below

What will be the rent for a 2 bed room house.
Monthly food expense for three of us.
Cost of education (monthly fee) for A level for my son.
Can I work there on 10 years visa permit.

Wajahat2512@gmail.com

Thanks

ravi December 6, 2009 at 7:28 am

I am really very impressed the way details are given for the country.
This country will grow at rapid pace in time to come I am sure.
All the very best & good luck.

Sandeep December 16, 2009 at 10:41 am

Dear all, Am working as a Faculty in Management in India currently. I got an offer to work at once of the universities at Malaysia. Can anyone suggest me about the idea viz., is it worthwhile to opt Malaysia, how about the cost of living, how about the other amenities like rentals for house etc.

priya January 3, 2010 at 6:18 pm

sir, thanks mch for the valueable information. could u please let me know if 8000 rinnigit is enough for a family of 2 to stay comfortably in malaysia?

hafeez January 7, 2010 at 12:59 pm

dear
want to know living cost in malaysia…of 2 bedrooms home n rent.daily food expenses.covynce fare etc.

Christine January 9, 2010 at 8:07 am

Hi! You’re info about Malaysia is very inspiring. It seems like a really good place to work in.I’ve been thinking of getting a job there since a friend of mine have recommended me. However, I would like to know how much it would cost me to actually live there with the house rent, food & daily travel fares. The employer is offering me 3000 Rm. Would that be more than enough to cover the costs of living there? Would I still have money left to send back to the Philippines? hope to hear from you soon. thanks! :)

jeetu January 9, 2010 at 7:37 pm

We are a family of four, we wish to migrate to Malaysia. can some one guide me as below

What will be the rent for a 1 or 2 bed room house.
which place is costlier or cheaper in terms of staying.
Monthly food expense for four of us.
Cost of education (monthly fee) for A level for my 2 childrens.
Can I work there on business visa permit or how can i obtain an work visa or employment visa or long term visa.
Is mode of transport expensive or how one can obtain a driving license.

diksha January 27, 2010 at 6:26 pm

hyeyour information is very helpful but i need some more help as i got an offer to teach french in an indian school in malaysia andthey r offering me 3250 rm
i really want to know how is malaysia as i am a single hindu girl
how much it would cost me to actually live there with the house rent for 1 bed room, food & daily travel fares.
Would I still have money left to send back to my parents? hope to hear from you soon. thanks!

HAZRIN February 1, 2010 at 3:52 am

Dear Dishka

Just came across this site while serching for information on my next financing proposal paper.
Well it basically depends where will you be located. For infor, Malaysia have 14 states altogether.
Should u going to live in KL area, RM3,250.00 is suficient to pay for the item below :
a) Rented room : RM400.00-RM500.00
b) RapidKL/LRT : RM150.00
c) Food(Daily) : RM20-RM30/daily – RM600
Daily neccesities I could tell you would consume at least 1/3 of your salary.

Other state (for comparison) – Johor Bahru
a) Rented rom : RM350.00
b) Public Transportation : Bus – RM5.00/daily @ Cab : RM15.00/daily
d) Food : RM15 – RM25/day.

Kuala Lumpur have the highest std rate of living while Johor Bahru is considered second in Malaysia

Other states like Kedah, Perak, Perlis have lower cost of living and its a goodd opportunity for you to save should you’ve been located there.

To be frank, RM3,250 shall be adequate for you to live and save in Malaysia provided you don’t go out and shops every day..all the best to you..

Leave a Comment

Previous post:

Next post: