By Farah Wahida:
George Town in Penang has landed among the top eight destinations for foreign retirees listed by Kiplinger, a US-based personal finance and business forecasting publication.
According to the report, foreign retirees are mostly drawn to Malaysia due to low cost of living, efficient access to healthcare and the Malaysia My Second Home (MM2H) programme.
Notably, Penang was the only Asian city on the list, which also includes Medellin (Colombia), Dubrovnik (Croatia), Salinas (Ecuador), Bilbao (Spain), Coronado (Panama), Galway (Ireland) and Tlaxcala (Mexico).
Malaysia was in the lowest tier of the Global Retirement Index, which means an American couple could live here comfortably at just RM4,650 a month.
Commenting on its rich history, the report called George Town “British colonialism on the cheap.” George Town is also recognised for its Unesco World Heritage status, fascinating architecture and street food as well as the use of English across the island.
Pleased with the ranking, Tourism Director-General Mirza Mohammad Taiyab Beg, said “Malaysia has all the attributes of a popular destination for retirees,” mainly highlighted by its warm tropical climate and low cost of living.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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