Uhm sorry. As a Malaysian I don't ever want KL to be the next Vancouver, Sydney, London, etc where they received a lot of big Chinese money in real estate. They can put their money in the local mutual fund or something, I don't mind that, but real estate is not a good thing. We don't need to build an economy that is based on bubble creation. That is not healthy at all. Most of these Chinese investors are really just investors. They don't even live in Vancouver or Sydney, they just brought ul those city property like crazy and drive up prices. It's okay to let foreigners buy property but to me they must live here and those foreign property investors must be limited.
Ditto. No to exploitative investors or any fly by night money. We want our natural environment and economy intact. Dont want any new age caravan, belts and them buying our land to exploit, ruining our rainforests, land and economy..we dont want it turned into mini cambodia
Actually to be honest , most of the Malaysian friends that I know .. who stays in msia .. Are wealthy and well cultured. To me , like u .. I believe .. are important representative of a msia success .. I respect these people.. Instead some choose to migrate to Singapore or Other countries. Most of them just want to earn some money and go back to msia. and brings alot of uncomfort to local residents . I think these people are really people who only learns to chase for money and doesn't have any certain faith in their own country. Actually I just want to say , every country have their bad and good .. I don't believe grass is greener on other side.. I believe focus on what resource u have in your country and make use of the given resources to make wealth.
@@Cendrawasih444 Migrating to other countries and coming back here, bringing in all those money and depositing it in the local banks are good. What's wrong with that? They are Malaysians after all. If they choose to retire here after working for decades elsewhere there is nothing wrong with that. There is nothing wrong with chasing success and the lack of ambition among Malaysians will be extremely bad for the economy if that ever happens. There is nothing wrong with chasing money & success. Stop breeding this foolish mentality. The problem I have with Chinese investors is they don't even live here. They brought property for "investments" and that's it. So you have an increased demand from foreign home buyers that didn't even live here and because of this, developers will keep on building property further raising property prices. Then the people who actually do live here like us can no longer afford to pay rent let alone buying a house. I have no issues with expatriates who choose to work & live here to buy properties, at least they contributed to the production of goods & services here by working or by consuming other goods & services. I have a problem with investors who don't live here, don't contribute anything except for the purchasing of assets. It's not good for the economy. We need to limit foreign property purchases.
Malaysian here. Too many rich foreigners in Malaysia will inflate prices (food, rent, etc). It's happened in almost every developing country that is swarming with Westerners. I hope the government controls the numbers
Living in Penang, Malaysia since 2008, your pitch has been the hope of many expats; yet real estate prices for many dwellings are lower today than when I arrived. A new MM2H program might help but during covid the government has alienated expats to a degree that many have moved out, of course further depressing prices.
Agreed. MM2H was always in the back of my mind to be a backup in case something happened with my EP. But the new requirements they made during covid made it completely unrealistic to me. I've accepted that one day I may have to leave, but I'll enjoy it while I can.
@@OffshoreCitizen expats were restricted from both leaving but also returning. Finally a cumbersome process was established for expats to return with hotel quarantine different from local residents. The expats felt betrayed.
@@OffshoreCitizen also, there is great uncertainty about the taxation; most of us expect that Malaysia will introduce taxation by departure from the territorial system. The tax authorities are clearly revamping their system to track data, most likely because of pressure from Europe.
I am not sure why people kept on saying prices have gone down. Maybe buying a house really does go down, not sure about that. However renting is a nightmare these days. I saw on rent ads that renting a master bedroom in KL will cost you RM 900-1200. Renting a room not a house. I mean that is crazy and I wouldn't call that affordable. Where else 6-7 years ago you can still find a RM 600-700 master bedroom rent, these days a tiny box shape room can cost you that much. Renting a one bedroom apartment used to cost around 1200-1500 7-8 years ago. These days it's 2000-2500. I especially noticed that in the past 2 years rent is so out of control. That is not cheap or affordable when you consider how much the average Malaysian makes. Rent has gone up but wages have been stagnant. It's cheap for expats like you making $ or Euros wages while living in Malaysia. Expensive for the locals.
Really like Malaysia. Bit of a hidden gem. Been living and working here for nearly 3 years. Would love to stay for 10 years! Not convinced on buying property though. The numbers don't add up, hence renting for now.
@@OffshoreCitizen Malaysia has some lovely islands, but KL is still the best place for me. Green metro city with great infrastructure and amazing people!
Malaysia have a dilemma about immigration issues. While she can benefit by opening to foreign money & immigration but already having 6 million immigrants living in Malaysia legally or illegally it’s quite a political balancing act for the government to make immigration easier. Regarding property market, generally there are two markets out there, one for the locals only and another one is the open market for both locals and international buyers. For the local market the price have gradually increased over the years, in order to be able to sell at ‘old prices’ developers are offering smaller units or units at further locations in greater Kuala Lumpur for example. With improved road networks and mass public transport central KL is still relatively accessible even if you live further away. This have kept prices in the older more central locations relatively in check. As for the international market, from a property investor point of view, a property market is more stable if the majority of the clients are locally based unlike markets that’s dominated by foreigners that’s seeing big fluctuations like in Dubai for example. The problem with our international market is once it’s liberalized we can see the market is dominated by only certain nationality instead of a mixed bag of many nationalities which will create a more balanced demographics and also less of a political backlash from the citizens. There’s also been many cases of abuse of the long term visas like the MM2H which involved criminal elements. This is why you can see some inconsistencies in the visa program.
I couldn't have said it better. You summed up what's on my mind. Especially point number one. Foreigners don't understand because they are not seeing it from our point of view. I don't want our country to be raided by too much immigrants. I know it's important for the country's economy but I hope My country will never be like the US, Australia and Singapore where the indigenous groups like myself will have to bow down to a foreign master on our own soil.
i grew up in malaysia . first went there in 1994 klcc wasnt even built yet :D . was there till 2018. never could secure a long term visa. always on some sort of student visa and stuff. i really want to go back there. its home for me . i hope i can go back there one day . balik kampung !
@@OffshoreCitizen 2018. desperate to go back . miss the place badly. its one of those places you either really like it or you dont. i hope somehow i can get back there again. too broke to do go there now
Bro, I was there 2 weeks ago,the city is very clean , nice infrastructure, cheap vegetable and fruits, but certain north American foods cannot find. This is the only problem, plan to go back and stay long term. 90 day visa works for me, just fly out ever 90 days. .
@@OffshoreCitizen Cost of living (provided you are making a North American wage), english speaking throughout Kuala Lumpur/Selangor area, variety in culture and food, good tax rate (compared to Canada), weather, and ease of access to other countries in southeast asia. Though I agree with you on the over development. I'm hesitant to buy here because of the influx on supply. There's a new apartment that went up behind me about 6 months ago, and I would say I only see about 10% of the units occupied. I've seen new completed developments that are still empty. Buying would be easy and very economical vs Canada, but I can't see the property value increasing for a while and would imagine it'd be tough to sell. Other then that, I cannot see myself going back to Canada, unless I was forced to. But if that bridge ever came I'd just look at Thailand instead.
That's quite intriguing. I'm considering moving from California to Malaysia. How's the business environment there? Is it more like earn the US, retire there, or we could potentially set up a company and do business and live there.
@@DeusExMachina50 Received an opportunity to live overseas. I lived in Manila for 4.5 years before moving to KL. Can safely say my family and I prefer Malaysia over Philippines
Malaysia is a progressive country. Malaysia is the hub of Asia and easily connects to the world by land or by sea or by air. Look at the map of Malaysia and you will understand its links to the countries of the world. It starts from Kuala Lumpur metropolis city.
Klang Valley/KL will be the upcoming top ASEAN city soon. It's already a US$200bn economy and going by 8 - 10% growth p.a. (Which is very common in KL), Klang Valley/KL economy alone will hit almost US$400bn, economy equivalent to some countries in ASEAN today.
You are spot on about the immigration policies of Malaysia. I tried to convince previous administrations that the without true immigration, Malaysia will never move out of the mid level income trap. Countries need a variety of people and skills to move up. That is why countries like Japan and Korea hit a glass ceiling - and no matter how hard they worked, saved or sacrificed - they couldn't move up. The actual standard of living in these countries is not that high.
Because rental yields are low in Malaysia what would be more interesting would be a long-term lease option; like a 10 year lease denominated in USD with a call option at the end of the lease to acquire the property. This way you can take advantage of the low rental yields and the appreciation due to the option. Also, local firms are more likely to lease at a cheaper price in USD as Malaysia has a dollar shortage due to its weak currency.
I had been watching the Malaysian opportunities for a while. Then I realized a lot of modern residential real estate is based on the $250K rule for foreigners. I waited for a while and noticed that everytime over-building happens (which is often)..they offer to reduce temporally reduce the foreigner real estate threshold price in order to get rid of the over hang of condos. I bought a new condo in KL in 2021 for $125K to rent out. And I bought a new condo in JB for $82K in 2022 for a longer term value play.
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I've been thinking this for many years and the only way was down. In the meantime recently plenty of unfavorable developments have taken place. Not only MM2H implosion, but also serious problems with treatment of foreign earned income. A 180 degree turnaround needed quickly, otherwise it won't even be a 20 year horizon punt.
@@Photojouralist123 Could you please elaborate further? Are they taxing foreign earned income? What about unearned income like dividends/interest? A commentator mentioned something about an exit tax, know anything about that? Any info would be appreciated
Malaysia now target foreigners who are low end millionaires (Say US$2mil - US$5mil NW) who want a stable, highly developed, safe, peaceful, multiracial, relatively affordable and international place to stay and invest in ASEAN. A place where you can live comfortably and it is an aviation/business hub
The strategy may indeed work for some, but for those with significant financial means hailing from Europe or North America, far more enticing options can be found in the Caribbean. Destinations such as the Bahamas or numerous smaller islands in the region offer a multitude of benefits. Located a mere 5 to 6 hours by flight from the US or Canada, and with significantly shorter travel times from Europe, these islands provide easier access for friends and family. Moreover, the Caribbean islands boast simplified processes for obtaining residency, permanent residency, and even naturalization. Coupled with world-class golf courses, exceptional sailing opportunities, and stunning beaches, these islands exude an exotic ambiance and unparalleled leisure options. While the cost of living in these locales may be higher, individuals with substantial financial resources will find that this is not a significant concern. The true value lies in being close to loved ones and providing a destination where friends and family are eager to visit and enjoy unforgettable experiences together.
I love Malaysia and Kuala Lumpur's KLCC & Mont Kiara areas especially - just an amazing cultural mix like you said. The two biggest concern are the horrible air quality specifically in Kuala Lumpur and the corruption / contamination of the larger southeast asian food ecosystem with illegal pesticides and pollution from illegal chemical dumping / illegal plastic disposal / dioxin etc.. Once you start adding up the costs of imported food from developed countries with lower corruption / pollution levels like Australia and Japan the effective cost of living goes up noticeably. Then add the reduced life expectancy / additional healthcare burden costs related to the air pollution levels (and high levels of traffic violence and...) and the costs start to add up even more. I wouldn't say that Kuala Lumpur or anywhere else in Malaysia has a high quality of living for the cost - I would say that the primary costs of living somewhere like Malaysia with high corruption and poor food safety / environmental quality are the effects on your health and your family's health and if you for whatever reason fail to place any financial value on these you will perceive a high quality of living for the cost. The same issues are even more extreme in Bali so this isn't a concern limited to Malaysia, but people who are coming from countries with lower corruption / better food systems should understand the hazards of living somewhere like this and go in with their eyes open.
You are getting the wrong informations about Malaysia, i suggest you go to KL stay for a couple months & judge for yourselves in real life experiences.
You failed to mention that there are minimum prices set for foreigners to buy real estate, RM1 million in KL and RM2 million in Selangor. That is per unit - you cannot buy 3 condos, for example, to make up the RM1 million. There is a massive overhang of property in the RM400-500k range, and they're still buidling like crazy. The answer is not to drop the minimums for foreigners, but for the greedy property developers to lower prices so that locals can afford their product. Salaries are low in Malaysia - the country is in the middle income trap and shows no signs of escaping from it. Other commenters have said that they don't want a property price bubble in Malaysia and I completely agree. What happened in Sydney, London, Vancouver etc is insanity. As for PR, it's almost impossible to get unless you have connections. Forget about citzenship, not gonna happen.
Actually there are good demand for 400-500k properties but not for SoHo or studio units that many developers are building. The locals don’t buy small units to live in. Normally 3 beds and above. If they build 3-4bed landed property at those prices it will sell out rather quickly. Foreigners only buy those above 1 million. So those 400k studios will remain empty except for local investors only.
Long term visa - ok, PR & citizenship are definitely a big no no... We from the grassroots decided with the government for that particular issue... Only for people who we chose & surely not for everyone...😂😂😂
I always felt that malaysia has a huge potential. They are highly developed but they need to open up more I feel that they need to make PR easier to get like canada and germany. Also they should allow part time work and post work study visa for students
Klang Valley/KL will be the upcoming top ASEAN city soon. It's already a US$200bn economy and going by 8 - 10% growth p.a. (Which is very common in KL), Klang Valley/KL economy alone will hit almost US$400bn, economy equivalent to some countries in ASEAN today.
forget it, with the politics there, potential has been said so many times since 2000's. And look at where singapore is and where malaysia is. Singapore was smart leaving Malaysia. Malaysia is just filled with useless malays as govt. And dont get your hopes up as "potential" unless you are willing to give 50% of your profits as corruption money to malays.
The Malaysian government is expert at shooting itself in the foot. Just recently it was reported that applications for the MM2H visa were down 90% since the new requirements were introduced. The new rules cannot attract any participants that would not have been attracted under the old rules, yet this is how the government presented the changes. They wanted more and "better" applicants (whatever that means). You're right, Malaysia is a beautiful place and would be a wonderful place to settle down eventually but racial and religious politics are in Malaysia's long term future and it will not be an easy place to live for foreigners for quite some time to come. The current government is unstable and waiting in the wings is the makings of an Islamic republic. Will they survive this? Maybe, but right now optimism would be misplaced.
Over supply at the moment but with the end of Covid people are catching up on in KL, Penang and PJ. Buying apartments in Monkiara, Ampang, Bangsar and PJ would be a great idea now price are reasonable.
great video. I am so surprised Malaysia isn't a retiree hub consider all the benefits. you hit the nail on the head it is defiantly policy stopping Malaysia reaching it's full potential. They offer a great passport for Muslims too I noticed, because they have visa free access to all of them, which is really hard to get with 1 passport, really wished they offered that too. if they offered dual citizenship many muslims sunni and Shia I can see getting it because it gives access to all the other countries holy sites. I am skeptical of this investment tho, what are the details? will it really trickle down to the economy or be a debt trap like what the belt and road initiative did to other countries like sri lanka and Pakistan, because most these initiatives bring their own workers and resources from china which lead to it not helping the local economy
@@OffshoreCitizen Im surprised they don't appeal to the Muslim crowd too, they have the best muslim passport allowing sunni and Shias to go to all the holy cites. it is the best passport for muslims in the world 👍
Tesla ,Amazon ,syt2 Arab nak bukak di Malaysia. Apa abahkau ,Atok , Hj Bawang ,dan MB kedah nak cakap? . Bila takda point cerita fitnah lagi dan lagi. Cerita FAKTA bukan FITNAH. Rakyat is not stupid . The Rakyat who supports the corrupted deserves to be called BIUL.
I own a few high-end properties in Malaysia. Price of one is slightly lower than when I bought it 5 years ago (from developer) and the other one is much lower than when I bought from developer. Both in prime areas. I moved my company to Singapore due to the fact that there is no PR even though my wife and my children are Malaysian citizens. Immigration rules keep changing. Yes, food is amazing, people are generally good. Everybody speaks English. Healthcare is generally good and advance. But none of these gonna help you when you are dealing with government starting with your VISA application and so on. Every year there are new increased requirements. These strict rules and policies are not helping keeping those bad immigrants away, because they will come illegally or pay the bribe somewhere. It will just push the legal, well to do, law abiding, entrepreneurial expats away. MM2H destruction didn't help at all either. The reason mentioned is that people abused this visa (god knows how!). Instead of fixing the government loopholes and arrest dirty authorities or cancelling the bad apples visas, they shoot the program in the foot. I wish the best for Malaysia and hope one day it gets where it deserves but right now, it is not a friendly state for expats.
Are you able to apply for Singapore PR via your company, owning property in Malaysia? Im thinking about Malaysian SDN BHD, for property, but I do not intend to be a permanent resident
Malaysian government must balance between foreign investment and citizens welfare. If the government too focus on foreign investment and the citizens welfare will be neglected. Otherwise if government too focus on citizens wellfare and the foreign investment will shy away from Malaysia. The important point is Malaysia want good investment and good people. We don't want bad investment and bad people.
If u don't really know, don't parrot rhetoric which u hear. What bad investments n bad ppl r u talking abt? Hv u got any examples to back ur assertion?
I don't see a history in many countries of the government doing good policy. I see them doing what it takes to get re elected and get ahead personally. Leaders who put the good of the nation first are rare
Unfortunately, Malaysia's inconsistent policy, particularly when it comes to foreign investment, is a major drawback. For example, the recent changes to MM2H have left residents feeling upset and disillusioned, as have the inconsistent treatment during the pandemic. Similarly, the regularly changing rules and lowered taxations in Labuan have only added to the uncertainty. I personally believe that it is best to avoid residence in Malaysia, especially since they do not offer permanent residency. While life in Malaysia can be good, the country should not aim to compare itself to Singapore or Australia, but rather to Thailand or the Philippines. There seems to be a political mindset that takes advantage of foreign investment once they believe they are in their net by changing the rules in their favor.
@@ethos- Many in the west (Panama, Chili, Costa Rica, Uruguay and more) + citizenship but even in the East with Taiwan, Singapore, the Philippines and even Cambodia offers a path to citizenship
@@OffshoreCitizen The delicate political balance in Malaysia complicates the task of predicting their stance towards foreigners. The Malaysian Islamic Party, an influential Islamic fundamentalist group, holds considerable sway and often opposes foreign interests. With the potential to shift the balance in each election, it's challenging to determine Malaysia's trajectory over the next 10 to 20 years.
Hi Michael - are you currently in KL? My family moved to KL (student and guardian visa). I am based in HK but come to KL regularly via APEC card. It might make sense to meet up for a coffee - need to find a clear setup for visa & taxes
I've been saying this for the past year. I think you're exactly right that we will kick ourselves in 20 years if we don't have some exposure to Malaysia's likely growth. As people are forced to look for options to formerly stable western countries, Malaysia could well start to look very attractive.
Bro, I find it much more cost effective than Thailand, fruits cost less than in Thailand. And the same fruit from Thailand are cheaper in Maylasia, go figure.Stayed st the Hilton, only $35/night. With breakfast.fact. start moving all who reads my comment.
A foreigner can't even Open a basic bank to here in Malaysia without tons of documents and work permit keep your investment overseas and just rent here that Said its a wonderful country to live in
Sounds cool, I'd be very interested to buy a home in KL. You mentioned foreigners were treated very badly during COVID? Can you tell us more about what happened as this is a key worry for people relocating?
I love Malaysia. My wife (Chinese) and I had planned on retiring there on the mm2h visa by 2025 but when they ended it, then restarted it again with new requirements that ended that avenue for us. We were pretty well off financially to qualify under the old mm2h financial requirements but the new mm2h monthly income requirement of RM40,000 per month income (400% increase over previous requirement) is ridiculous actually. If I have that type of monthly retirement income then I really have a much. much wider range of choices for international living other than Malaysia to be honest. I can't imagine they're getting many applicants for the new mm2h visa anymore.
You could apply Sarawak mm2h as it's requirements is much lower. Sarawak is an autonomous region in Malaysia and Sarawak control the immigration in their state not central government.
yeah man 40 000 rm monthly income is crazy . i really doubt people that actually meet that requirement would even apply to mm2h. there are probably busy somewhere in the Caribbean for holidays
Very interesting. Great content. I’ve visited a number of times and like KL, Penang. What are general prices for 2 bd, 2 bath condos in KL and Penang good location so I could walk to every thing. Im a walker. How does this market compare to non Manila, non Cebu cities in Philippines or cities like Chiang Mai? What are taxes like in KL, Penang? Thank you
Personally not really I dislike very capital intensive businesses and I dislike cyclical businesses so mining makes a poor combination though there's probably a good opportunity in the next couple decades in certain resources
Ok. Thank you for your reply. I have a phenomenal opportunity in hand and thought you might be interested. Also I will be contacting you for your services. Thank you. I love your videos.
I hear this and can't help thinking capital slushing around ends up distorting RE markets to the detriment of locals, causing inefficient allocation of capital (who needs empty towers and malls). The world is yearning for a store of value and empty flats isn't one. FED, IMF, ECB, WEF, WB, etc want you to keep it local so they can extract value to finance their fuckups. If only there was an alternative...;)
All of belt and road talk is on paper. If the BRI going into a country was an investment case then why don't you throw your money into Nigeria or Uganda? The purpose of bri is not to enrich foreign retail investors.
Really hard to say. I guess it depends on your perspective as well. Has it helped China? Is there infrastructure there that's beneficial? Clearly there's been some negative consequences but on balance?
What’s your take on the security situation in SE Asia? I would be concerned that over the next few years US China trade war/ sanctions (or at worst a shooting war over Taiwan) could send the regional economy into a tailspin for many years.
Taiwan is located in East Asia with its closes neighbor being the Philippines and China, so a hot war between China and Taiwan is unlikely to affect Malaysia directly as it's oceans apart. When it comes to trade war between US and China, Malaysia is among the top destination for FDI in Asia as companies in both countries are forced to relocate in order to avoid tariffs. Recently, Tesla has announced that it would invest in Malaysia due to its strong E&E. And your last point about a war with Taiwan, that will affect every country in the world as Taiwan's chip manufacturing is among the best in the world.
Im Malaysian American and its great up to a point such as not abandoning education in the US. The BRI has inflicted debt burdens in many countries such as Sri Lanka and Pakistan. Malaysia is not like them and desperate. It should be careful especially since China has huge debts from overbuilding and may now be exporting it's staret owned enterprise debt to other countries.
@@OffshoreCitizen The US froze, seized, charged and repatriated the 1MDB assets the largest forfeiture in US history. 12 billion US dollars to Malaysia was repatriated as stolen from the Malaysian people .Unfortunately nothing can be said about China, the UK even Switzerland and Singapore. As much as simulations rent against the United States I speak as a relation the US did this. China is believed to be harboring the mastermind of 1MDB. I bring this up because you brought it up so we need to be really wary about China and even its arbitrary territorial claims.. Billions were lost in East Malaysia in a dubious energy scam involving China.
Westerner and white should migrate to Malaysia, it is the only country in the world which protect majority. Malaysia need you guys come and become the good minority to support the policy.
I was expecting the Malaysian government to curtail the Sarawak & now the new Sabah MM2H visas as the Western Malaysia MM2H is so uncompetitive. I'm guessing the Sarawak and Sabah areas are autonomous regions? I am aware there was talk of changing but due to the politics within the country, this has not happened.
I believe these 2 regions have an enshrined right to set their own policies. I think it would be a significant effort on the part of the central government to take this right away.
Sabah and Sarawak have autonomy on immigration so they can define their own rules for their own version of MM2H. Sabah is more liberal than Sarawak which is very restrictive on immigration even Malaysians from Peninsular have limited time to stay in Sarawak.
The main issue I have with Malaysia is the currency. Similar to the Turkish Lira it is constantly devaluing against hard currencies and has extremely low rates. The devaluing currency makes it so that investment returns in USD are negative and the low rates make it so that rental yields are very low. If they were to strengthen their currency and bring in high rates(15%+) similar to that of Georgia, Armenia, Tanzania etc. Then I would consider it.
@Romil If you invest in Malaysia, your expecation should be the Ringgit will depreciate upto 10% in next 5 to 7 years. Also, In my opinion, the depreciation going forward will be low i.e. 5 to 6% range.
I will be returning to Penang in Q4 to sell my wife on it instead of JB for semi retirement home. Anybody with a sweet seaside view condo that they want to sell, let me know.
@@OffshoreCitizen Well, it was fortuitous that my mm2h agent is based there (so, I had to go there). Due to quarantine and the way my agent works, I was going to stay in Penang for several weeks so I did the whole month. Loved every minute of it. It has that semi Oahu vibe that I love with better food.
Huge Opportunity for WHO ? For some reason the Malaysian government does NOT want a large influx of foreigners with cash to buy properties and inflate the current market already. Thus the new MM2H program has set a high bar designed to reduce the amount of eligible foreigners. So that money will go else where in SEA.
Malaysia is a hard pass for me. Real estate prices have gone nowhere because the country is going nowhere. KL is the second most soulless city in Southeast Asia (after Singapore). Many expats are lonely because their lives are so far removed from most locals, who are scrabbling to make a living since wages are depressed from the massive influx of foreign workers from Bangladesh, Indonesia, and Myanmar. You have some of the unhealthiest food in the region - Malaysia is the most obese country in Asia - and some of the least walkable streets. On top of all this, the spectre of Islamic fundamentalist looms with the most Islamic party, PAS, winning the most seats in the recently concluded election. I see no upsides to investing in Malaysia apart from "it's cheap", but the more you spend time in Malaysia, the more you realise it's a value trap.
@@OffshoreCitizen Thanks for sharing your perspective. I can sort of understand why it might hold some appeal for expats. If you ask me, limited parts of Malaysia are OK for expats, i.e., if you confine your search in areas like Mont Kiara, Ampang, Bangsar, the KLCC area, or some parts of PJ, and some areas in Penang. The locals who do live in these areas are generally OK, but you're talking about a thin sliver of maybe the top 10% of the population who are more internationally minded. I'm a Malaysian citizen so I have to socialise more widely; otherwise, if I confined myself to these groups, I'd feel like an expat in my own country, which is never a good feeling. Malaysia has perennially suffered from a massive brain drain. I've felt this in my own social groups, most of my schoolmates, relatives, and other acquaintances have left Malaysia for elsewhere. Common reasons for doing this include career progression, better educational opportunities for children, or healthcare for elderly parents with special needs. I think any thesis of Malaysia as a "hidden gem" should consider carefully why so many of its educated citizens have decided to settle down elsewhere, even in higher-cost-of-living countries.
@@UMingLee appreciate your insight! I was in KL for a month, staying in the Pudu area. I had a chance to see both sides, the wealthy and the not so. A big contrast!
I disagree. Klang Valley/KL will be the upcoming top ASEAN city soon. It's already a US$200bn economy and going by 8 - 10% growth p.a. (Which is very common in KL), Klang Valley/KL economy alone will hit almost US$400bn, economy equivalent to some countries in ASEAN today.
Chinese money - where has it done well for the host country? This should be a red flag for your investors not an opportunity. I value your research and opinions usually, but imo you’ve got this one wrong.
@@OffshoreCitizen I respectfully disagree. Been following your work for a while and most of it is extremely well researched and valuable. Congratulations on the amazing work and lovely community.
At least most of them are just like me, we've never encountered any crime thru out our lives, it's that considered lucky or just something else? Haha... Well, at least we don't have gun shooting spree like other countries, that's one of the good features in my beloved country, Malaysia.
KL is generally safe. Of course you need to know which areas are dodgy .. just ask a local. If u stay in a high end condo or a gated housing area it’s safe.
According to the world peace index, Malaysia is ranked 18th in the world whilst US is ranked 100+. KL and Penang of course would be very safe, among the safest in Asia if not the world. No guns here.
there is dead body women died inside the wall (murdered and buried inside the wall) in one house located klang valley. try search , suspects : foreign worker , sadly but true ... somewhere in klang
Sure. if you look at Malaysia from a purely economic and tax incentive prism it looks fabulous. But you have to think about human rights. Perhaps not highly probable, but if you are falsely accused of a crime the penalties are harsh - caning/whipping, capital punishment for drug offenses and LGBTQ is also a crime. Might be a good a good investment opportunity but not sure I would live there as a resident year around.
Interestingly gay friends and clients who have lived there for years tell me it's better there as a gay person than Singapore based on on the ground reality. Malaysia is definitely a country with a bunch of corruption but that can work in your favor as well
@@nasigorengtomyam7452 Sure but if you are falsely accused and convicted of possessing drugs in North America, or anywhere in Western Europe you are not going to be flogged in public or put to death.
Over the past few years, Malaysia has experienced one of the lowest inflation rates in Asia. As the cost of construction material and labour cost go in tandem with inflation that explain our property prices are relatively cheap as compare to many major cities in Asia.
A relatively known chinese Buddhist leader here in Nor Cal was quoted as saying "Never trust a Malaysian!" In my experience be extremely careful in your business and social dealings with them. This has nothing to do with racism. Its not about race! Its about a society very much removed from the west! Maybe thats why thier growth is slower then the other asian countries.
If you look at actual statistics for the year 2022, Third Quarter 2022 GDP Grew By 14.2 Percent: Stronger Economic Performance Amid Global Challenges. Malaysia's economy continues to build on the momentum of economic recovery, delivering even faster growth of 14.2% in the third quarter of 2022 (Q3 2022) compared to 8.9% in the second quarter and 5% in the first quarter. It is among the fastest growing economy in Asia post pandemic. As for a society "removed from the West", Malaysia is an Asian conservative country with its own culture, values and identity. It adopted some aspects of Western values such as democracy and capitalism but was never meant to replicate Western society. We are our own identity.
Are you for real? Do you live under a rock? "a society removed from the west"? " growth slower than other asian countries"? "Never trust a Malaysian"? You are just so full of sh*t aren't you.
Offshore Citizen, thank you for enlightening us about Malaysia but are you certain you have described correctly or held back about Malaysia as somewhat a "paradise"?. Being "white" or a "mat salleh" are your views on par with other races who are not "white"?. You know, Malaysia's population consist of a majority of Malays and Islam is the dominant religion, although there are Chinese and Indians. You did not mention a word about CORRUPTION. AND YES, CORRUPTION AFFECT EVEN MAT SALLEH LIKE YOU. Applying for MM2H can be accelerated with cash incentives, Malaysia is corrupted from Head to Toe. You did mention Chinese money that did not flow into Malaysia, well mainland Chinese do not want to face racism of the Malay. Tell the world about PAS with Hadi and his gangsters provoking the Chinese daily. Of course the mat salleh are look upon as a "better or superior race" but racism of this magnitude is damning the country. Having successive Prime Ministers who are totally corrupted like M.Mahathir, Najib Razak and Muhyiddin reflect very badly on the country worldwide. Allowing racism and religious hatred to spread without any preventive measures is also a huge hindrance. Allowing PAS's gangsters to beat up those who are not Malays and Muslims is very badly viewed too. I do know the Mat Salleh have the habit to move in their own circle, much less with the locals and of course you might not witness certain "off" things in Malaysia but truth is Malaysia is a wonderful country to live in, but it can be a paradise if the govt put a STOP TO THE PAS party with their gangsters and also corruption on all level of the govt offices. The 3 big words in Malaysia are "Racism, Religious Hatred and Corruption". If Mat Salleh can close an eye to the 3 big words then it is fine for them to migrate to Malaysia, if not do not even think of it.
I followed this channel for quite a while. His tone is consistent since long time ago and i dont think he wants to emulate nomad capitalist or vice versa. But nomad seems to like malaysia even more.
Uhm sorry. As a Malaysian I don't ever want KL to be the next Vancouver, Sydney, London, etc where they received a lot of big Chinese money in real estate. They can put their money in the local mutual fund or something, I don't mind that, but real estate is not a good thing. We don't need to build an economy that is based on bubble creation. That is not healthy at all. Most of these Chinese investors are really just investors. They don't even live in Vancouver or Sydney, they just brought ul those city property like crazy and drive up prices. It's okay to let foreigners buy property but to me they must live here and those foreign property investors must be limited.
Ditto. No to exploitative investors or any fly by night money. We want our natural environment and economy intact. Dont want any new age caravan, belts and them buying our land to exploit, ruining our rainforests, land and economy..we dont want it turned into mini cambodia
Actually to be honest , most of the Malaysian friends that I know .. who stays in msia .. Are wealthy and well cultured. To me , like u .. I believe .. are important representative of a msia success .. I respect these people..
Instead some choose to migrate to Singapore or Other countries.
Most of them just want to earn some money and go back to msia.
and brings alot of uncomfort to local residents .
I think these people are really people who only learns to chase for money and doesn't have any certain faith in their own country.
Actually I just want to say , every country have their bad and good ..
I don't believe grass is greener on other side.. I believe focus on what resource u have in your country and make use of the given resources to make wealth.
Well Said. Exactly. Thank you.
@@Cendrawasih444 Migrating to other countries and coming back here, bringing in all those money and depositing it in the local banks are good. What's wrong with that? They are Malaysians after all. If they choose to retire here after working for decades elsewhere there is nothing wrong with that. There is nothing wrong with chasing success and the lack of ambition among Malaysians will be extremely bad for the economy if that ever happens. There is nothing wrong with chasing money & success. Stop breeding this foolish mentality.
The problem I have with Chinese investors is they don't even live here. They brought property for "investments" and that's it. So you have an increased demand from foreign home buyers that didn't even live here and because of this, developers will keep on building property further raising property prices. Then the people who actually do live here like us can no longer afford to pay rent let alone buying a house. I have no issues with expatriates who choose to work & live here to buy properties, at least they contributed to the production of goods & services here by working or by consuming other goods & services. I have a problem with investors who don't live here, don't contribute anything except for the purchasing of assets. It's not good for the economy. We need to limit foreign property purchases.
Malaysians should all come back.
Oh please! Shhh 🤫please let Malaysia stay underrated. ❤ from an American expat.
😂😂
Exactly it’s good for everybody except for the greedy developers 😆
I second that... Malaysian here. 😂
Malaysian here. Too many rich foreigners in Malaysia will inflate prices (food, rent, etc). It's happened in almost every developing country that is swarming with Westerners. I hope the government controls the numbers
Living in Penang, Malaysia since 2008, your pitch has been the hope of many expats; yet real estate prices for many dwellings are lower today than when I arrived. A new MM2H program might help but during covid the government has alienated expats to a degree that many have moved out, of course further depressing prices.
How did you deal with all the covid restrictions?
Agreed. MM2H was always in the back of my mind to be a backup in case something happened with my EP. But the new requirements they made during covid made it completely unrealistic to me. I've accepted that one day I may have to leave, but I'll enjoy it while I can.
@@OffshoreCitizen expats were restricted from both leaving but also returning. Finally a cumbersome process was established for expats to return with hotel quarantine different from local residents. The expats felt betrayed.
@@OffshoreCitizen also, there is great uncertainty about the taxation; most of us expect that Malaysia will introduce taxation by departure from the territorial system. The tax authorities are clearly revamping their system to track data, most likely because of pressure from Europe.
I am not sure why people kept on saying prices have gone down. Maybe buying a house really does go down, not sure about that. However renting is a nightmare these days. I saw on rent ads that renting a master bedroom in KL will cost you RM 900-1200. Renting a room not a house. I mean that is crazy and I wouldn't call that affordable. Where else 6-7 years ago you can still find a RM 600-700 master bedroom rent, these days a tiny box shape room can cost you that much. Renting a one bedroom apartment used to cost around 1200-1500 7-8 years ago. These days it's 2000-2500. I especially noticed that in the past 2 years rent is so out of control. That is not cheap or affordable when you consider how much the average Malaysian makes. Rent has gone up but wages have been stagnant. It's cheap for expats like you making $ or Euros wages while living in Malaysia. Expensive for the locals.
Really like Malaysia. Bit of a hidden gem. Been living and working here for nearly 3 years. Would love to stay for 10 years!
Not convinced on buying property though. The numbers don't add up, hence renting for now.
What are some of your favorite parts of the country?
as local, im not buying either. haha. renting in Malaysia is great af..
@@OffshoreCitizen Malaysia has some lovely islands, but KL is still the best place for me. Green metro city with great infrastructure and amazing people!
What do you mean by "the numbers dont add up"?. Just curious
Why don't the numbers add up
Malaysia have a dilemma about immigration issues. While she can benefit by opening to foreign money & immigration but already having 6 million immigrants living in Malaysia legally or illegally it’s quite a political balancing act for the government to make immigration easier.
Regarding property market, generally there are two markets out there, one for the locals only and another one is the open market for both locals and international buyers. For the local market the price have gradually increased over the years, in order to be able to sell at ‘old prices’ developers are offering smaller units or units at further locations in greater Kuala Lumpur for example. With improved road networks and mass public transport central KL is still relatively accessible even if you live further away. This have kept prices in the older more central locations relatively in check.
As for the international market, from a property investor point of view, a property market is more stable if the majority of the clients are locally based unlike markets that’s dominated by foreigners that’s seeing big fluctuations like in Dubai for example. The problem with our international market is once it’s liberalized we can see the market is dominated by only certain nationality instead of a mixed bag of many nationalities which will create a more balanced demographics and also less of a political backlash from the citizens. There’s also been many cases of abuse of the long term visas like the MM2H which involved criminal elements. This is why you can see some inconsistencies in the visa program.
I couldn't have said it better. You summed up what's on my mind. Especially point number one. Foreigners don't understand because they are not seeing it from our point of view. I don't want our country to be raided by too much immigrants. I know it's important for the country's economy but I hope My country will never be like the US, Australia and Singapore where the indigenous groups like myself will have to bow down to a foreign master on our own soil.
i grew up in malaysia . first went there in 1994 klcc wasnt even built yet :D . was there till 2018. never could secure a long term visa. always on some sort of student visa and stuff. i really want to go back there. its home for me . i hope i can go back there one day . balik kampung !
Interesting. When was the last time you visited?
@@OffshoreCitizen 2018. desperate to go back . miss the place badly. its one of those places you either really like it or you dont.
i hope somehow i can get back there again. too broke to do go there now
Marry a local, problem solved. 😂
Bro, I was there 2 weeks ago,the city is very clean , nice infrastructure, cheap vegetable and fruits, but certain north American foods cannot find. This is the only problem, plan to go back and stay long term. 90 day visa works for me, just fly out ever 90 days. .
Expat from Canada living here in Kuala Lumpur for the last 5 years. Best move to live here and get out of Canada.
What do you like about the city?
@@OffshoreCitizen Cost of living (provided you are making a North American wage), english speaking throughout Kuala Lumpur/Selangor area, variety in culture and food, good tax rate (compared to Canada), weather, and ease of access to other countries in southeast asia.
Though I agree with you on the over development. I'm hesitant to buy here because of the influx on supply. There's a new apartment that went up behind me about 6 months ago, and I would say I only see about 10% of the units occupied. I've seen new completed developments that are still empty. Buying would be easy and very economical vs Canada, but I can't see the property value increasing for a while and would imagine it'd be tough to sell.
Other then that, I cannot see myself going back to Canada, unless I was forced to. But if that bridge ever came I'd just look at Thailand instead.
That's quite intriguing. I'm considering moving from California to Malaysia. How's the business environment there? Is it more like earn the US, retire there, or we could potentially set up a company and do business and live there.
@@604xrp8 how did you set up your tax structure there?
@@DeusExMachina50 Received an opportunity to live overseas. I lived in Manila for 4.5 years before moving to KL. Can safely say my family and I prefer Malaysia over Philippines
Beautiful shairng❤
Malaysia is a progressive country. Malaysia is the hub of Asia and easily connects to the world by land or by sea
or by air. Look at the map of Malaysia and you will understand its links to the countries of the world. It starts from
Kuala Lumpur metropolis city.
Yeah great place!
Klang Valley/KL will be the upcoming top ASEAN city soon. It's already a US$200bn economy and going by 8 - 10% growth p.a. (Which is very common in KL), Klang Valley/KL economy alone will hit almost US$400bn, economy equivalent to some countries in ASEAN today.
You are spot on about the immigration policies of Malaysia. I tried to convince previous administrations that the without true immigration, Malaysia will never move out of the mid level income trap. Countries need a variety of people and skills to move up. That is why countries like Japan and Korea hit a glass ceiling - and no matter how hard they worked, saved or sacrificed - they couldn't move up. The actual standard of living in these countries is not that high.
Because rental yields are low in Malaysia what would be more interesting would be a long-term lease option; like a 10 year lease denominated in USD with a call option at the end of the lease to acquire the property. This way you can take advantage of the low rental yields and the appreciation due to the option. Also, local firms are more likely to lease at a cheaper price in USD as Malaysia has a dollar shortage due to its weak currency.
Great suggestion
I had been watching the Malaysian opportunities for a while. Then I realized a lot of modern residential real estate is based on the $250K rule for foreigners. I waited for a while and noticed that everytime over-building happens (which is often)..they offer to reduce temporally reduce the foreigner real estate threshold price in order to get rid of the over hang of condos. I bought a new condo in KL in 2021 for $125K to rent out. And I bought a new condo in JB for $82K in 2022 for a longer term value play.
I think you have to be in the loop to capitalise on this though?
I haven’t heard of this alleged $250k for foreigners. Would you mind to expand on that?
*Welcome to Malaysia.. Offshore Labuan Island & Singapore , Malaysia Truly Asia Good foods, rainforest good beach & others many More Enjoyed thanks for sharing very good videos*
🇲🇾♥️💖❤️🩹💗💗🤩🥰🇲🇾💖❤️🩹💗♥️💝🤩🇲🇾
I've been thinking this for many years and the only way was down. In the meantime recently plenty of unfavorable developments have taken place. Not only MM2H implosion, but also serious problems with treatment of foreign earned income. A 180 degree turnaround needed quickly, otherwise it won't even be a 20 year horizon punt.
Totally agree I’ve invested millions of RM the trust is gone!
@@Photojouralist123 Could you please elaborate further? Are they taxing foreign earned income? What about unearned income like dividends/interest? A commentator mentioned something about an exit tax, know anything about that? Any info would be appreciated
health is wealth
Malaysia now target foreigners who are low end millionaires (Say US$2mil - US$5mil NW) who want a stable, highly developed, safe, peaceful, multiracial, relatively affordable and international place to stay and invest in ASEAN. A place where you can live comfortably and it is an aviation/business hub
The strategy may indeed work for some, but for those with significant financial means hailing from Europe or North America, far more enticing options can be found in the Caribbean. Destinations such as the Bahamas or numerous smaller islands in the region offer a multitude of benefits. Located a mere 5 to 6 hours by flight from the US or Canada, and with significantly shorter travel times from Europe, these islands provide easier access for friends and family.
Moreover, the Caribbean islands boast simplified processes for obtaining residency, permanent residency, and even naturalization. Coupled with world-class golf courses, exceptional sailing opportunities, and stunning beaches, these islands exude an exotic ambiance and unparalleled leisure options.
While the cost of living in these locales may be higher, individuals with substantial financial resources will find that this is not a significant concern. The true value lies in being close to loved ones and providing a destination where friends and family are eager to visit and enjoy unforgettable experiences together.
Life on a small island isn't remotely comparable to life in a city like KL
And Asia offers something very different from the Caribbean
Malaysia main target are Asian millionaires.
I love Malaysia and Kuala Lumpur's KLCC & Mont Kiara areas especially - just an amazing cultural mix like you said. The two biggest concern are the horrible air quality specifically in Kuala Lumpur and the corruption / contamination of the larger southeast asian food ecosystem with illegal pesticides and pollution from illegal chemical dumping / illegal plastic disposal / dioxin etc.. Once you start adding up the costs of imported food from developed countries with lower corruption / pollution levels like Australia and Japan the effective cost of living goes up noticeably. Then add the reduced life expectancy / additional healthcare burden costs related to the air pollution levels (and high levels of traffic violence and...) and the costs start to add up even more.
I wouldn't say that Kuala Lumpur or anywhere else in Malaysia has a high quality of living for the cost - I would say that the primary costs of living somewhere like Malaysia with high corruption and poor food safety / environmental quality are the effects on your health and your family's health and if you for whatever reason fail to place any financial value on these you will perceive a high quality of living for the cost. The same issues are even more extreme in Bali so this isn't a concern limited to Malaysia, but people who are coming from countries with lower corruption / better food systems should understand the hazards of living somewhere like this and go in with their eyes open.
Australia is very corrupt too now
@@H3XGroup Not really corrupt but Orwellian.
You are getting the wrong informations about Malaysia, i suggest you go to KL stay for a couple months & judge for yourselves in real life experiences.
Thank you for this perspective 🍃
their grocery store at the mall seemed clean and fine. is their food system really that bad?
You failed to mention that there are minimum prices set for foreigners to buy real estate, RM1 million in KL and RM2 million in Selangor. That is per unit - you cannot buy 3 condos, for example, to make up the RM1 million.
There is a massive overhang of property in the RM400-500k range, and they're still buidling like crazy. The answer is not to drop the minimums for foreigners, but for the greedy property developers to lower prices so that locals can afford their product. Salaries are low in Malaysia - the country is in the middle income trap and shows no signs of escaping from it. Other commenters have said that they don't want a property price bubble in Malaysia and I completely agree. What happened in Sydney, London, Vancouver etc is insanity.
As for PR, it's almost impossible to get unless you have connections. Forget about citzenship, not gonna happen.
RM 1m is like $250k that's nothing for a property by global standards
I think the appeal is actually to buy on the higher end
Actually there are good demand for 400-500k properties but not for SoHo or studio units that many developers are building. The locals don’t buy small units to live in. Normally 3 beds and above. If they build 3-4bed landed property at those prices it will sell out rather quickly. Foreigners only buy those above 1 million. So those 400k studios will remain empty except for local investors only.
Long term visa - ok, PR & citizenship are definitely a big no no... We from the grassroots decided with the government for that particular issue... Only for people who we chose & surely not for everyone...😂😂😂
I always felt that malaysia has a huge potential. They are highly developed but they need to open up more I feel that they need to make PR easier to get like canada and germany. Also they should allow part time work and post work study visa for students
oh no please no. as malaysian we are very uncomfortable with too many foreign workers. too many issues
Long term visa - yes... PR, definitely a big no no... 😂😂😂
Klang Valley/KL will be the upcoming top ASEAN city soon. It's already a US$200bn economy and going by 8 - 10% growth p.a. (Which is very common in KL), Klang Valley/KL economy alone will hit almost US$400bn, economy equivalent to some countries in ASEAN today.
forget it, with the politics there, potential has been said so many times since 2000's. And look at where singapore is and where malaysia is. Singapore was smart leaving Malaysia. Malaysia is just filled with useless malays as govt. And dont get your hopes up as "potential" unless you are willing to give 50% of your profits as corruption money to malays.
The Malaysian government is expert at shooting itself in the foot. Just recently it was reported that applications for the MM2H visa were down 90% since the new requirements were introduced. The new rules cannot attract any participants that would not have been attracted under the old rules, yet this is how the government presented the changes. They wanted more and "better" applicants (whatever that means). You're right, Malaysia is a beautiful place and would be a wonderful place to settle down eventually but racial and religious politics are in Malaysia's long term future and it will not be an easy place to live for foreigners for quite some time to come. The current government is unstable and waiting in the wings is the makings of an Islamic republic. Will they survive this? Maybe, but right now optimism would be misplaced.
Markets bottom on pessimism
Over supply at the moment but with the end of Covid people are catching up on in KL, Penang and PJ. Buying apartments in Monkiara, Ampang, Bangsar and PJ would be a great idea now price are reasonable.
Prices were low before covid though too
Hope the demand - supply will normalized soon, so that the prices increase. I think property in Klang Valley should be 20% - 30% higher than now.
Sleepy you the man.... awesome alpha
Clicked on your video because the thumbnail is finally tolerable. Great content as usual but can’t tolerate clickbait
Great weather? Isn't it hot and humid?
If it's belt and road, that signals to me that now is the worse time to invest.
great video.
I am so surprised Malaysia isn't a retiree hub consider all the benefits. you hit the nail on the head it is defiantly policy stopping Malaysia reaching it's full potential.
They offer a great passport for Muslims too I noticed, because they have visa free access to all of them, which is really hard to get with 1 passport, really wished they offered that too. if they offered dual citizenship many muslims sunni and Shia I can see getting it because it gives access to all the other countries holy sites.
I am skeptical of this investment tho, what are the details? will it really trickle down to the economy or be a debt trap like what the belt and road initiative did to other countries like sri lanka and Pakistan, because most these initiatives bring their own workers and resources from china which lead to it not helping the local economy
Yeah time will tell
We'll also see if they open up their immigration policy more. They traditionally don't like Chinese immigrants
@@OffshoreCitizen Im surprised they don't appeal to the Muslim crowd too, they have the best muslim passport allowing sunni and Shias to go to all the holy cites. it is the best passport for muslims in the world 👍
@@OffshoreCitizen err. Inaccurate assesment
Awesome content... How is Malaysia for banking as a US citizens?
Local banks are not great not terrible. The Singapore banks are all there too though
Tesla ,Amazon ,syt2 Arab nak bukak di Malaysia. Apa abahkau ,Atok , Hj Bawang ,dan MB kedah nak cakap? .
Bila takda point cerita fitnah lagi dan lagi. Cerita FAKTA bukan FITNAH. Rakyat is not stupid . The Rakyat who supports the corrupted deserves to be called BIUL.
I own a few high-end properties in Malaysia. Price of one is slightly lower than when I bought it 5 years ago (from developer) and the other one is much lower than when I bought from developer. Both in prime areas. I moved my company to Singapore due to the fact that there is no PR even though my wife and my children are Malaysian citizens. Immigration rules keep changing.
Yes, food is amazing, people are generally good. Everybody speaks English. Healthcare is generally good and advance. But none of these gonna help you when you are dealing with government starting with your VISA application and so on. Every year there are new increased requirements. These strict rules and policies are not helping keeping those bad immigrants away, because they will come illegally or pay the bribe somewhere. It will just push the legal, well to do, law abiding, entrepreneurial expats away.
MM2H destruction didn't help at all either. The reason mentioned is that people abused this visa (god knows how!). Instead of fixing the government loopholes and arrest dirty authorities or cancelling the bad apples visas, they shoot the program in the foot.
I wish the best for Malaysia and hope one day it gets where it deserves but right now, it is not a friendly state for expats.
Are you able to apply for Singapore PR via your company, owning property in Malaysia?
Im thinking about Malaysian SDN BHD, for property, but I do not intend to be a permanent resident
Actually US & Japan is biggest foreign investors in Malaysia, china just now catching up.
Interesting
Wonder if restrictions in Canada, US, UK etc change that
Amazing country
What do you like about Malaysia?
@@OffshoreCitizen everything
Malaysian government must balance between foreign investment and citizens welfare. If the government too focus on foreign investment and the citizens welfare will be neglected. Otherwise if government too focus on citizens wellfare and the foreign investment will shy away from Malaysia. The important point is Malaysia want good investment and good people. We don't want bad investment and bad people.
If u don't really know, don't parrot rhetoric which u hear. What bad investments n bad ppl r u talking abt? Hv u got any examples to back ur assertion?
I don't see a history in many countries of the government doing good policy. I see them doing what it takes to get re elected and get ahead personally.
Leaders who put the good of the nation first are rare
@@mayfoo02 money launderers are a good example of bad investment.
Unfortunately, Malaysia's inconsistent policy, particularly when it comes to foreign investment, is a major drawback. For example, the recent changes to MM2H have left residents feeling upset and disillusioned, as have the inconsistent treatment during the pandemic. Similarly, the regularly changing rules and lowered taxations in Labuan have only added to the uncertainty. I personally believe that it is best to avoid residence in Malaysia, especially since they do not offer permanent residency. While life in Malaysia can be good, the country should not aim to compare itself to Singapore or Australia, but rather to Thailand or the Philippines. There seems to be a political mindset that takes advantage of foreign investment once they believe they are in their net by changing the rules in their favor.
Which country offers permanent residency based on your statement?
Malaysia definitely has miss handled things in these Regards
Why have they done this vs surrounding countries?
Many countries have PR it's the norm in the west
@@ethos- Many in the west (Panama, Chili, Costa Rica, Uruguay and more) + citizenship but even in the East with Taiwan, Singapore, the Philippines and even Cambodia offers a path to citizenship
@@OffshoreCitizen The delicate political balance in Malaysia complicates the task of predicting their stance towards foreigners. The Malaysian Islamic Party, an influential Islamic fundamentalist group, holds considerable sway and often opposes foreign interests. With the potential to shift the balance in each election, it's challenging to determine Malaysia's trajectory over the next 10 to 20 years.
Hi Michael - are you currently in KL? My family moved to KL (student and guardian visa). I am based in HK but come to KL regularly via APEC card. It might make sense to meet up for a coffee - need to find a clear setup for visa & taxes
No I'm not, might be there come winter but certainly not before
Feel free to send a message through www.offshorecitizen.net to discuss your situation
What are typical residential rental yields in Malaysia?
Very low, nothing exciting at all at the moment it's a place that pays to rent rather than own over the last decade or two
I've been saying this for the past year. I think you're exactly right that we will kick ourselves in 20 years if we don't have some exposure to Malaysia's likely growth. As people are forced to look for options to formerly stable western countries, Malaysia could well start to look very attractive.
What other countries do you think are worth considering?
Bro, I find it much more cost effective than Thailand, fruits cost less than in Thailand. And the same fruit from Thailand are cheaper in Maylasia, go figure.Stayed st the Hilton, only $35/night. With breakfast.fact. start moving all who reads my comment.
Labuan VS Start-up visa, which one would you recommend?
A foreigner can't even Open a basic bank to here in Malaysia without tons of documents and work permit keep your investment overseas and just rent here that Said its a wonderful country to live in
That's true in many countries, nothing special there
Sounds cool, I'd be very interested to buy a home in KL. You mentioned foreigners were treated very badly during COVID? Can you tell us more about what happened as this is a key worry for people relocating?
Lengthy topic might be best to read the comments of some foreigners there in Facebook groups
I love Malaysia. My wife (Chinese) and I had planned on retiring there on the mm2h visa by 2025 but when they ended it, then restarted it again with new requirements that ended that avenue for us. We were pretty well off financially to qualify under the old mm2h financial requirements but the new mm2h monthly income requirement of RM40,000 per month income (400% increase over previous requirement) is ridiculous actually. If I have that type of monthly retirement income then I really have a much. much wider range of choices for international living other than Malaysia to be honest. I can't imagine they're getting many applicants for the new mm2h visa anymore.
The government is currently reviewing it as there was 90% drop in application
You could apply Sarawak mm2h as it's requirements is much lower. Sarawak is an autonomous region in Malaysia and Sarawak control the immigration in their state not central government.
yeah man 40 000 rm monthly income is crazy . i really doubt people that actually meet that requirement would even apply to mm2h. there are probably busy somewhere in the Caribbean for holidays
Very interesting. Great content. I’ve visited a number of times and like KL, Penang. What are general prices for 2 bd, 2 bath condos in KL and Penang good location so I could walk to every thing. Im a walker. How does this market compare to non Manila, non Cebu cities in Philippines or cities like Chiang Mai? What are taxes like in KL, Penang? Thank you
You'd have to do research on prices
Taxes can be optimized a lot for the right kind of people
Hello Sir. Are you interested in the mining and renewable energy sector in Africa?
Personally not really
I dislike very capital intensive businesses and I dislike cyclical businesses so mining makes a poor combination though there's probably a good opportunity in the next couple decades in certain resources
Ok. Thank you for your reply. I have a phenomenal opportunity in hand and thought you might be interested. Also I will be contacting you for your services. Thank you. I love your videos.
I just reached out to you on LinkedIn
Why is real estate prices going up a good thing?
So the rich can get richer and the poor remains poor and lives on the street.
How long can americans stay there? thanks!
Depends on your visa
I hear this and can't help thinking capital slushing around ends up distorting RE markets to the detriment of locals, causing inefficient allocation of capital (who needs empty towers and malls). The world is yearning for a store of value and empty flats isn't one. FED, IMF, ECB, WEF, WB, etc want you to keep it local so they can extract value to finance their fuckups. If only there was an alternative...;)
MALAYSIA is for a FAMILY GUY or BUSINESS-MAN and THAILAND is for a SINGLE GUY or RETIRED EXPAT!
Nomad capitalist, nomad elite said the same. You are the 3rd person saying it.
Uh oh
Don't take it as gospel, it's a possibility not a certainty
Malaysia is cheaper , cost of living is low , due to heavy government subsidy on essentials like food , petrol etc my man
Is that why it is?
In your best estimation, how many years before this opportunity is over? meaning how much longer will prices in Malaysia be of good value?
Let me check my crystal ball...hmm, damn it! Still broken
The truth is I have no idea, the opportunity might not be an opportunity at all
I hear there's an update MM2H moving soon, any news on that?
We'll make sure to provide all the information timely.
Would you be interested in the program again?
@@OffshoreCitizen not on current terms. Waiting to see as an alternative to Thailand given the proposed tax changes that have been just announced.
All of belt and road talk is on paper. If the BRI going into a country was an investment case then why don't you throw your money into Nigeria or Uganda? The purpose of bri is not to enrich foreign retail investors.
On paper? Check ECRL, Forest City, Bandar Malaysia. China just emerged from a looooong lockdown. It will change.
Penang the best, especiallg the food! Housing in good areas is pricy.
Do you think the Belt and Road Initiative has been successful so far?😊
Really hard to say. I guess it depends on your perspective as well. Has it helped China? Is there infrastructure there that's beneficial? Clearly there's been some negative consequences but on balance?
It’s working great for china and frankly it beats bombing countries to steal their natural resources.
What’s your take on the security situation in SE Asia? I would be concerned that over the next few years US China trade war/ sanctions (or at worst a shooting war over Taiwan) could send the regional economy into a tailspin for many years.
Seriously doubt China invades Taiwan. They have serious internal problems and invading Taiwan just makes their situation even more challenging.
Taiwan is located in East Asia with its closes neighbor being the Philippines and China, so a hot war between China and Taiwan is unlikely to affect Malaysia directly as it's oceans apart. When it comes to trade war between US and China, Malaysia is among the top destination for FDI in Asia as companies in both countries are forced to relocate in order to avoid tariffs. Recently, Tesla has announced that it would invest in Malaysia due to its strong E&E. And your last point about a war with Taiwan, that will affect every country in the world as Taiwan's chip manufacturing is among the best in the world.
@@ViolentCabbage-ym7ko Taiwan the best chip manufacturers and Malaysia comes in close second.
Malaysia chinese vs china chinese . Which do Bumi regard more highly? Just askin😅
Yeah, real estate property is cheap but not easy to buy as a foreigner
It's not that hard it's just slow
In what world or metrics is KL better then Bangkok. Fantasy land
**than
By many metrics, we did a video on KL vs Bangkok go check it out
Not everyone love ladyboys scott 😅
@@ashraff_khan Well, if you need a bit of fun, you can always fly out from KL -> BKK. lol
i like biggest company ,,amazon,tesla,apple investment open in msia,,👍welcome,
Have they been investing there a lot?
Malaysian thinks everything is getting expensive in Malaysia
Im Malaysian American and its great up to a point such as not abandoning education in the US. The BRI has inflicted debt burdens in many countries such as Sri Lanka and Pakistan. Malaysia is not like them and desperate. It should be careful especially since China has huge debts from overbuilding and may now be exporting it's staret owned enterprise debt to other countries.
Possible, though Malaysia was also doing that to itself re 1mdb so there are some root issues to address there
@@OffshoreCitizen The US froze, seized, charged and repatriated the 1MDB assets the largest forfeiture in US history. 12 billion US dollars to Malaysia was repatriated as stolen from the Malaysian people .Unfortunately nothing can be said about China, the UK even Switzerland and Singapore. As much as simulations rent against the United States I speak as a relation the US did this. China is believed to be harboring the mastermind of 1MDB. I bring this up because you brought it up so we need to be really wary about China and even its arbitrary territorial claims.. Billions were lost in East Malaysia in a dubious energy scam involving China.
BRI was a great opportunity for Pakistan but was mismanaged by both Pakistani politicians and its army.
Abandoning education in the US? Not sure if you meant abandoning indoctrination in the US? 😂
So while the entire world markets boomed, Malaysian real estate is still priced at 1996 prices? Thanks, I'll pass.
Thanks. Pls do so. I appreciate it! ❤ from an American expat
We don't need high real estate price. It only squeeze the people.
As a local who earned local salary, please do pass. I'm still trying to save for my first home.
Markets tend to be cyclical...we'll see
Thailand and Philippines are better❤ go there, and dont come here.😂❤
-Fellow Malaysian.
Westerner and white should migrate to Malaysia, it is the only country in the world which protect majority. Malaysia need you guys come and become the good minority to support the policy.
too low voice. plz
I was expecting the Malaysian government to curtail the Sarawak & now the new Sabah MM2H visas as the Western Malaysia MM2H is so uncompetitive. I'm guessing the Sarawak and Sabah areas are autonomous regions? I am aware there was talk of changing but due to the politics within the country, this has not happened.
I believe these 2 regions have an enshrined right to set their own policies. I think it would be a significant effort on the part of the central government to take this right away.
Borneo is equal partner of peninsula. Autonomous yes.
Sabah and Sarawak have autonomy on immigration so they can define their own rules for their own version of MM2H. Sabah is more liberal than Sarawak which is very restrictive on immigration even Malaysians from Peninsular have limited time to stay in Sarawak.
The main issue I have with Malaysia is the currency. Similar to the Turkish Lira it is constantly devaluing against hard currencies and has extremely low rates. The devaluing currency makes it so that investment returns in USD are negative and the low rates make it so that rental yields are very low.
If they were to strengthen their currency and bring in high rates(15%+) similar to that of Georgia, Armenia, Tanzania etc. Then I would consider it.
@Romil If you invest in Malaysia, your expecation should be the Ringgit will depreciate upto 10% in next 5 to 7 years. Also, In my opinion, the depreciation going forward will be low i.e. 5 to 6% range.
Malaysia and Indonesia are key for the Americans. Too strategic and necessary so too risky in the world of bifurcation
Hasn't hurt Indonesian real estate
I will be returning to Penang in Q4 to sell my wife on it instead of JB for semi retirement home. Anybody with a sweet seaside view condo that they want to sell, let me know.
Very nice! What made you choose there?
@@OffshoreCitizen Well, it was fortuitous that my mm2h agent is based there (so, I had to go there). Due to quarantine and the way my agent works, I was going to stay in Penang for several weeks so I did the whole month. Loved every minute of it. It has that semi Oahu vibe that I love with better food.
Penang over JB anytime.
@VW Chan Have you lived in JB? What did you like OR not like about JB? Thanks!
Because they have no permenet option people who want to invest in realstate want some kind of passport or permwnet residency
Hasn't hurt Thailand who is basically in the same situation, similar for numerous other countries
Huge Opportunity for WHO ? For some reason the Malaysian government does NOT want a large influx of foreigners with cash to buy properties and inflate the current market already. Thus the new MM2H program has set a high bar designed to reduce the amount of eligible foreigners. So that money will go else where in SEA.
Malaysia is a hard pass for me. Real estate prices have gone nowhere because the country is going nowhere. KL is the second most soulless city in Southeast Asia (after Singapore). Many expats are lonely because their lives are so far removed from most locals, who are scrabbling to make a living since wages are depressed from the massive influx of foreign workers from Bangladesh, Indonesia, and Myanmar. You have some of the unhealthiest food in the region - Malaysia is the most obese country in Asia - and some of the least walkable streets. On top of all this, the spectre of Islamic fundamentalist looms with the most Islamic party, PAS, winning the most seats in the recently concluded election.
I see no upsides to investing in Malaysia apart from "it's cheap", but the more you spend time in Malaysia, the more you realise it's a value trap.
You are just a bitter piece of work.
Maybe it will go up, maybe it won't. I find the quality of life excellent and the locals great. Maybe you haven't networked in the right groups
@@OffshoreCitizen Thanks for sharing your perspective. I can sort of understand why it might hold some appeal for expats. If you ask me, limited parts of Malaysia are OK for expats, i.e., if you confine your search in areas like Mont Kiara, Ampang, Bangsar, the KLCC area, or some parts of PJ, and some areas in Penang. The locals who do live in these areas are generally OK, but you're talking about a thin sliver of maybe the top 10% of the population who are more internationally minded.
I'm a Malaysian citizen so I have to socialise more widely; otherwise, if I confined myself to these groups, I'd feel like an expat in my own country, which is never a good feeling.
Malaysia has perennially suffered from a massive brain drain. I've felt this in my own social groups, most of my schoolmates, relatives, and other acquaintances have left Malaysia for elsewhere. Common reasons for doing this include career progression, better educational opportunities for children, or healthcare for elderly parents with special needs.
I think any thesis of Malaysia as a "hidden gem" should consider carefully why so many of its educated citizens have decided to settle down elsewhere, even in higher-cost-of-living countries.
@@UMingLee appreciate your insight! I was in KL for a month, staying in the Pudu area. I had a chance to see both sides, the wealthy and the not so. A big contrast!
I disagree. Klang Valley/KL will be the upcoming top ASEAN city soon. It's already a US$200bn economy and going by 8 - 10% growth p.a. (Which is very common in KL), Klang Valley/KL economy alone will hit almost US$400bn, economy equivalent to some countries in ASEAN today.
Chinese money - where has it done well for the host country? This should be a red flag for your investors not an opportunity. I value your research and opinions usually, but imo you’ve got this one wrong.
Chinese money has very often driven up prices
@@OffshoreCitizen I respectfully disagree. Been following your work for a while and most of it is extremely well researched and valuable. Congratulations on the amazing work and lovely community.
no need so troublesome ... get a unhcr card ... you are free to stay ... but first you have to study islan ...
Is Malaysia safe someone mention that there was alot for crimes there ?
It's safe
At least most of them are just like me, we've never encountered any crime thru out our lives, it's that considered lucky or just something else? Haha... Well, at least we don't have gun shooting spree like other countries, that's one of the good features in my beloved country, Malaysia.
KL is generally safe. Of course you need to know which areas are dodgy .. just ask a local. If u stay in a high end condo or a gated housing area it’s safe.
According to the world peace index, Malaysia is ranked 18th in the world whilst US is ranked 100+. KL and Penang of course would be very safe, among the safest in Asia if not the world. No guns here.
there is dead body women died inside the wall (murdered and buried inside the wall) in one house located klang valley. try search , suspects : foreign worker , sadly but true ... somewhere in klang
Sure. if you look at Malaysia from a purely economic and tax incentive prism it looks fabulous. But you have to think about human rights. Perhaps not highly probable, but if you are falsely accused of a crime the penalties are harsh - caning/whipping, capital punishment for drug offenses and LGBTQ is also a crime. Might be a good a good investment opportunity but not sure I would live there as a resident year around.
being falsely accuse could happen anywhere right?
Interestingly gay friends and clients who have lived there for years tell me it's better there as a gay person than Singapore based on on the ground reality.
Malaysia is definitely a country with a bunch of corruption but that can work in your favor as well
@@nasigorengtomyam7452 Sure but if you are falsely accused and convicted of possessing drugs in North America, or anywhere in Western Europe you are not going to be flogged in public or put to death.
@@OffshoreCitizen Interesting. Good points
How's the drug problem there?, I suspect pretty much non existent.
Over the past few years, Malaysia has experienced one of the lowest inflation rates in Asia.
As the cost of construction material and labour cost go in tandem with inflation that explain our property prices are relatively cheap as compare to many major cities in Asia.
Where in Malaysia would you recommend buying a property?
Sshhh 🤫.
😂😂
A relatively known chinese Buddhist leader here in Nor Cal was quoted as saying "Never trust a Malaysian!" In my experience be extremely careful in your business and social dealings with them. This has nothing to do with racism. Its not about race! Its about a society very much removed from the west! Maybe thats why thier growth is slower then the other asian countries.
If you look at actual statistics for the year 2022, Third Quarter 2022 GDP Grew By 14.2 Percent: Stronger Economic Performance Amid Global Challenges. Malaysia's economy continues to build on the momentum of economic recovery, delivering even faster growth of 14.2% in the third quarter of 2022 (Q3 2022) compared to 8.9% in the second quarter and 5% in the first quarter. It is among the fastest growing economy in Asia post pandemic. As for a society "removed from the West", Malaysia is an Asian conservative country with its own culture, values and identity. It adopted some aspects of Western values such as democracy and capitalism but was never meant to replicate Western society. We are our own identity.
Are you for real? Do you live under a rock? "a society removed from the west"? " growth slower than other asian countries"? "Never trust a Malaysian"? You are just so full of sh*t aren't you.
Nonsense
What are u!? A shame to the US as if our government failed to provide a good education system- seeing your comment!
Maybe he lack of brain cells...
🤣🤣🤣🤣🤣
Offshore Citizen, thank you for enlightening us about Malaysia but are you certain you have described correctly or held back about Malaysia as somewhat a "paradise"?. Being "white" or a "mat salleh" are your views on par with other races who are not "white"?. You know, Malaysia's population consist of a majority of Malays and Islam is the dominant religion, although there are Chinese and Indians. You did not mention a word about CORRUPTION. AND YES, CORRUPTION AFFECT EVEN MAT SALLEH LIKE YOU. Applying for MM2H can be accelerated with cash incentives, Malaysia is corrupted from Head to Toe. You did mention Chinese money that did not flow into Malaysia, well mainland Chinese do not want to face racism of the Malay. Tell the world about PAS with Hadi and his gangsters provoking the Chinese daily. Of course the mat salleh are look upon as a "better or superior race" but racism of this magnitude is damning the country. Having successive Prime Ministers who are totally corrupted like M.Mahathir, Najib Razak and Muhyiddin reflect very badly on the country worldwide. Allowing racism and religious hatred to spread without any preventive measures is also a huge hindrance. Allowing PAS's gangsters to beat up those who are not Malays and Muslims is very badly viewed too. I do know the Mat Salleh have the habit to move in their own circle, much less with the locals and of course you might not witness certain "off" things in Malaysia but truth is Malaysia is a wonderful country to live in, but it can be a paradise if the govt put a STOP TO THE PAS party with their gangsters and also corruption on all level of the govt offices. The 3 big words in Malaysia are "Racism, Religious Hatred and Corruption". If Mat Salleh can close an eye to the 3 big words then it is fine for them to migrate to Malaysia, if not do not even think of it.
Thanks for the perspective
This guy sounds like he is trying to copy off of nomad capitalist
Evidently you haven't listened to enough of our content if you think so
I followed this channel for quite a while. His tone is consistent since long time ago and i dont think he wants to emulate nomad capitalist or vice versa. But nomad seems to like malaysia even more.
Bangkok has a much better publicist than Kuala Lumpur
To be fair Bangkok is often considered more fun for tourists