It was hard to tell who’d known each other for years and who’d just met that morning — the laughter started even before the food arrived.
It was a sunny Wednesday afternoon in September, and I was joining a group of 50 retirees for lunch in Malaysia. They’d been brought together by an expat community that began with one man’s efforts to connect people across the country.
The lively crowd of 60-somethings came from all corners of the globe, including Australia, the US, and the UK, and they had each, in their own way, started over here, in the coastal state of Penang.
I had flown up to Penang from Singapore, and I was easily the youngest person there. They greeted me with a few curious looks; someone joked that he wanted to know who my surgeon was.
Most of the retirees I spoke to said they liked that the Malaysian state offered the comforts and conveniences of a major city, but without the hustle and bustle of the country’s capital, Kuala Lumpur.
Adrian Spencer, 69, had spent his manufacturing career living and working across five continents, including China and the US. Earlier this year, when it was time to retire, he and his wife knew they wanted to settle down in Penang.
The state comprises both Penang Island and a stretch of mainland Malaysia known as Seberang Perai, connected by two bridges. As of July, it’s home to about 1.8 million people, including around 179,900 foreigners.
Nearly everyone I met, including Spencer, said they were on the Malaysia My Second Home (MM2H) visa program, which was first introduced by the government in 2002 to attract foreigners.
It’s not technically a retirement visa, as it’s open to anyone above the age of 25. The conditions for the program have been tightened over the years, most recently in 2024. Depending on the category of visa, applicants are required to have a minimum bank deposit of between $150,000 and $1 million and also purchase property in Malaysia.
As of December 2024, there were 58,468 active MM2H pass holders in the country.
Along with its thriving food scene and year-round warm weather, Penang’s affordability is a major draw. According to listings on real estate site PropertyGuru, studio apartments can be rented for as little as 1,450 Malaysian ringgit, or about $350, a month. Over the past 12 months, homes in Penang sold for a median price of 272,800 ringgit, or about $65,750.
Life here runs smoothly. There’s an international airport, a network of local bus services, and English is spoken almost everywhere. Penang also has a robust healthcare system, including several major hospitals and private centers that specialize in oncology and cardiac care.
It’s one of the things that Ward Chartier, 70, thought about when looking for a place to settle. As a cancer survivor, he told me, he wanted an opportunity to volunteer with cancer patients.
He’s not alone. Ask enough retirees what they’re looking for, and the answers all start to sound the same: comfort, companionship, and a sense of purpose.
Indeed, for many retirees here, Penang’s charm begins at breakfast and never really ends. From all around the world, they’ve made this place home — and they’re not looking back.
Do you have a story to share about retiring in Asia? Contact this reporter at agoh@businessinsider.com.
Credits
Reporter: Amanda Goh
Editors: Alexandra Karplus, Meghan Morris, Lina Batarags
Design: Tyler Le
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