Charles, an ex-banker from Singapore, and his wife Lena, an ex-media consultant, have been living in Penang for more than 15 years. Charles shared that compared to Singapore, the slow-paced Penang is more affordable. He stated that for the price of a HDB in Singapore, one can get a landed property or super condo in Penang.

Slow-paced Penang welcome

He also mentioned that there are no restrictions for foreigners to purchase landed properties in Penang, but the minimum price for a condominium is RM500,000 to prevent competition with locals for housing.

Charles also talked about how it has become harder to retire in Malaysia now, due to the increased requirements for the Malaysia My Second Home visa which includes minimum monthly income, liquid assets, and a fixed deposit.

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