Expat’s Guide to the Cost of Living in Malaysia
Of all the enticing and colourful Asian centres, Malaysia is a very cost-effective country in which to live. If you are moving to Malaysia for work and are used to living in a more expensive economy, you will find your dollar will go further here. Prices do fluctuate, depending in which city or area of the country you reside, with Kuala Lumpur and Penang being the two most attractive choices due to job and business opportunities. Rent and house prices, food costs, entertainment and retail goods are all well priced. Because of the cost of living in Malaysia, it has become a popular destination for expats over the past decade and Malaysia welcomes newcomers with open arms.
Buying or Renting in Malaysia
While house and rent prices vary over time, there is a minimum purchase price for foreigners buying real estate, with most states, including Kuala Lumpur, Johor, Sabah and Sarawak, cutting the limit at 1 million Malaysian ringgits. Workers in the city earn less than their Hong Kong or Singapore counterparts, yet rents in comparison are far lower. The costs to both rent and buy can be as little as 50% lower and as much as 70% lower in some cases.
Utility prices are usually 30% to 50% lower for electricity, water and local fees, however you may end up paying slightly more for faster Internet access.
Eating In and Dining Out in Malaysia
With the lower cost of living in Malaysia, cooking at home offers a huge drawcard because food, in general, is cheaper here. You can find fresh fruits and vegetables at costs lower than in much of the Southeast Asian region, although the prices creep up within the cities. For now, staple foods such as bread, milk and meat are all cheaper in Kuala Lumpur or Penang compared to Hong Kong or Singapore.
Dining out is often cheaper, too. With lower wages, rents and food source prices, mid-price restaurants and every-day eateries have their prices set to be affordable for the average Malaysian worker and the influx of foreigners has so far not really affected these rates. On top of this, food’s cultural landscape in Malaysia is so diverse that there will always be new things to try with inspiration from Thailand, China, India and Indonesia.
Entertainment costs are also lower in Malaysia. The cinema, gym membership and alcoholic drinks can be half the price of those in other large Asian cities within the region.
Inner-city Infrastructure
While some transport can be more expensive, such as private taxis, you will find that monthly public transport costs are more affordable. Even the price of a car can be as much as 50% less than those found in more expensive countries, even for the same model.
Making the Move
If you are excited about the cost of living in Malaysia and want the international moving experts at Allied to help you move, we can help reduce your stress and help save you hours of preparation in the months leading up to your moving date to Malaysia.
We can help you with packing your belongings swiftly, shipping your furniture an advising you on visas and customs documentation. If you have any questions, please feel free to contact us via our website or by phone on +60.3.6253.6553.