Malaysia one of the top 5 places to retire globally

With its high standard of living and cost-efficient quality of life, Malaysia is the best place to retire in Asia and the fourth best place to retire in the world.

According to the annual Global Retirement Index from InternationalLiving.com, the best places to retire are Ecuador, Panama, Mexico, Malaysia and Costa Rica respectively, while Thailand comes in at 10th place.

Countries are ranked based on eight different categories - real estate, special benefits, cost of living, fitting in, entertainment and amenities, health care, infrastructure and climate.

Described as having "great value for money in a cultural melting pot", Malaysia scored an average of 86.8 out of 100 for the above categories.

One example of its value for money can be seen in the rental of apartments, where a 1600-square-foot apartment with a pool can be rented at $850 per month, according to some respondents. Another area that could help with cutting costs is transport, with cheap vehicles and improving public transport systems.

Travelling around Asia from Malaysia is also easy, with an increasing number of cheap Asian airlines in recent years. Communication wise, there is no barrier as English is widely spoken, and cheap, high-speed internet in available.

The report stated healthcare is comparable to that of any first world nation, while being a fraction of the price with some respondents reporting doctor's visits can cost as little as $15.