Are there Retirement Villages (RVs) in Malaysia?

Over the last 2 years, there has been a lot of talk in the market about the setting up of Retirement Villages in Malaysia. While Malaysia is prime estate for such facilities, the industry is still at ground zero for many reasons.

Modern example of an RV in Australia: Waterbrook Greenwich Resort
 by Marchese Partners Architects in Sydney, Australia.

1. The miscalculation of its real value by bunching it as a real estate game.
2. The wrong purchase / ownership model for the customer.
3. The lack of experienced expertise.
4. The lack of knowledge of market readiness.
5. The lack of honest passion.

While there may be more reasons to list, these are the top 5 areas to be sorted out before forging ahead in this industry. It is amazing that there are over 3,000 purpose-built RVs in Australia compared to zero at the moment in Malaysia.
Albert Einstein did say "... in the middle of difficulty, lies opportunities...". That does sums up the potentiality of the RV business in Malaysia. The following are the 'Retirement' development news I have in Malaysia.

THE GREEN LEAF (Selangor)
This project is still currently being promoted although the number of takers is lower than expected. It is situated at Sepang, nearby the GOLDEN PALM TREE ICONIC RESORT & SPA. Unit size, scale of project and locality may be the weaknesses here.

ISKANDAR (Johor)
As many as 10 different groups have been talking about setting up Retirement oriented projects here. From what I have gathered, most of these are planned towards property real estate investment and sold outright to buyers. The 'Lease' model works best for RVs.

MERU (Ipoh)
The only purpose-built RV I know of that is actively being developed is this project in Ipoh. The consultant has been adamant in making sure it will set a meaningful benchmark, thus the local architects have been changed for the 2nd time. I understand even the Australian consulting Architect has been changed just recently. No stones will be left unturned. Many developers are waiting for this RV to be launched before they make their final commitment to the business. Latest news is they have achieved official breakthrough with authorities on the nett land area for development. July may see the first glimpse of the new design. A portion of the RVs will be built first before being marketed.
More news to follow.

SERENDAH (Selangor)
Something big is being studied for this area with special attention towards Aged-Care. This project will be fully-funded by the owners and thus will be built before being marketed.
More news to follow.

PETALING JAYA (Selangor)
There is a dearth for such facility in PJ and KL but none that I know are in talks. I have personally met and discussed with various land owners (sizable ones) but none have seen the viability yet. A good size for an RV in the Klang Valley (with the high land costs) may be from 3 acres up and will be vertical in nature. I am sure the floodgates will open very soon on this. The customers are ready but the deveopers are not.

Malaysia Ranks 3rd - The World’s Top Retirement Havens in 2013

“Go back to New York to live? Never!” says 65-year-old Lorna Taylor. “We moved to Malaysia because of the weather, the golf and the low prices; our costs are now a third to a quarter of what they were in the U.S. We even have a maid come in and clean four times a week. We couldn’t do that in New York. No, we’ll never leave Penang.”

Historical shophouses in Penang stands alongside modern day amenities.
Malaysia is a great mix of sights, sounds and feelings for daily living.
(Photo from Tourism Malaysia)

I’m 30 years younger than Lorna and her husband John, and yet they still manage to beat my wife Lisa and me convincingly at tennis. They have a coach who comes twice a week, and for $10 a lesson I can see his efforts are clearly paying off.

I also completely understand and agree with their view about Malaysia. It has everything. Its weather is a tropical 82 F all year round and its beaches, islands and jungles are pristine. It has some of the region’s best street food, great restaurants, bars, shopping malls and movie theaters—and it’s all affordable.

Lisa and I rent a sea-view apartment for $1,000 a month—it comes with a shared pool and gym. We eat out five nights a week, keep a small sailboat, and our total budget is $1,719 a month. Two people can have a three-course meal here for $10.

A bagful of fresh fruit costs around $4. We also have a maid that comes once a week for four hours at a cost of $12.

Malaysia’s an easy place to make friends and integrate as English is the unofficial first language. Lots of expats live in Kuala Lumpur and Penang and numerous organizations here can help you get settled and integrated. For example, the International Women’s Association (formally The American Woman’s Association) has just over 500 members who organize activities on a daily, weekly and monthly basis. On Mondays there are jungle walks, Tuesdays mah-jong (a type of card game), Wednesdays sewing. They sponsor trivia night once a week at a local pub and put on a ball once a year. For more information, see here.

Penang and Kuala Lumpur are also medical centers of excellence and every day two planeloads of medical tourists arrive in Malaysia for various treatments. Not only is the health care amazing but it’s among the world’s cheapest. And prescriptions here cost a fifth of what you pay at home.

The last time I was at the dentist I got a filling and a cleaning, which cost $22.50. In the U.S. this would set me back around $180. We can also buy property, land, and houses and condominiums freehold—something you can’t do elsewhere in Asia.

For the full article in internationalliving.com:  The World’s Top Retirement Havens in 2013

Opportunities in Retirement Villages in Southeast Asia

Opportunities in Retirement Villages in Southeast Asia