Ezra and Giselle's JB Dream Coming True with MM2H

Ezra and Giselle, both in their early 60s, have built a comfortable life in Singapore, owning a paid-off condo in Bishan and keeping a fixed deposit in the bank. But like many of their peers, the rising cost of living has started to weigh on them. Their thoughts have turned to the Malaysia My Second Home visa as a way to enjoy their retirement while still staying close to Singapore.

Why JB?
One of the most attractive aspects of the MM2H visa for Ezra and Giselle is the opportunity to purchase property at a lower minimum than non-MM2H holders. With property prices skyrocketing in Singapore during the past several decades, the idea of buying a spacious home in Malaysia at a reasonable cost is quite appealing. In fact, the thought of owning a landed house, something that would be financially out of reach in Singapore, has really caught their attention. Knowing they can find a luxurious property in JB, offering them a whole new standard of living, feels like the cherry on the cake, given the phase they are in their lives.

Financially, they also appreciate the fact that money transferred from Singapore to their Malaysian bank account is exempt from tax under the MM2H scheme. With a fixed deposit ready to support them, Ezra and Giselle can maximise the amount of money they take with them to Malaysia when no taxes are due. This is made even better by the ever-strengthening Sing Dollar versus the Ringgit.

In fact, thanks to the generous SGD/MYR exchange rate, the couple more than triples their spending power in Malaysia out of the gate. That's the kind of financial tailwind that's hard to pass up, especially when it pertains to your retirement years.

The couple is excited by the prospect of enjoying a slower, more relaxed pace of life in Malaysia. They look forward to the open spaces and the opportunity to explore Malaysia's natural beauty, from its pristine beaches and islands to the cooler highlands and sprawling jungles. They can't wait to go on road trips, day outings and weekend getaways to Tioman, for example. After years of living in a fast-paced urban environment, the idea of discovering Kota Tinggi, Melaca, Kuantan and being surrounded by nature is—pardon the pun—a breath of fresh air.

Home Sweet Home Away From Home
Ezra and Giselle are also reassured by how common English is in Malaysia, especially in JB. Additionally, the presence of a sizeable Singaporean expat community means they won't be isolated or feel too far from home. It's a comforting thought that they can seamlessly integrate into their new surroundings without language being an issue, given that they can also get by in Hokkien and the Bahasa they still remember.

Another key factor is the upcoming RTS line, which will further shorten travel time between Singapore and JB. With this new infrastructure addition, they'll have the flexibility to easily travel back and forth across the Straits, making regular visits to Singapore a breeze. It's a crucial element for them, as they want to remain connected to their family and friends back home. It's this that makes retiring in JB so accessible, i.e. the fact that they get to enjoy all the advantages of living in JB, whilst also retaining Singapore at arm's length.

For Singaporeans, living in JB is tantamount to enjoying the best of both worlds. Who says you can't have it all? With a lifestyle arbitrage opportunity as rewarding as this Malaysia/Singapore one, it's no wonder that more and more Singaporeans have been pivoting to JB.

The Next Shenzhen?
JB's improving infrastructure, burgeoning property market and relatively low costs have solidified Ezra and Giselle's decision to make JB their second home. The area is also renowned amongst Singaporeans for its excellent shopping malls and affordable healthcare, another important factor for those moving across the Causeway. With Malaysia's top-tier private healthcare available at significantly lower price points than in Singapore, Ezra and Giselle feel secure in their decision, particularly since several of the medical centres in JB are actually owned and run by Singapore medical groups, such as Gleneagles Medini and Regency Specialist Hospital, both authorised under CPF/Medisave.

Not to mention the HSR that's on the way and the SEZ/SFZ agreements between Malaysia and Singapore. Clearly, JB's star is rising, so from a potential returns perspective, too, it makes good sense to invest here.

Nevertheless, all the above being said, for now, the couple plan to rent a property in JB while they explore the different areas and figure out which residential neighbourhood agrees with them best. If all goes well, they'll purchase a home once they've had time to settle in and confirm their long-term JB commitment. But the beauty of their JB retirement plan is that it's flexible—they know that if they ever want to return to Singapore, their condo in Bishan will always welcome them back. And this gives them complete peace of mind.

Would you like to know more about residing in JB or the MM2H visa? For full details, visit MM2H.com.sg.