Iskandar Malaysia - Getting More High Rise Luxurious Development Projects Here

Not too long ago, my Singaporean friend asked me on the projects in Johor Bahru due to two reasons:

1. Cooling Measures by Singapore Government on Singapore Properties by introducing ABSD.
2. Promotion by Malaysia Government on Iskandar Malaysia.

She is interested on High Rise project in Johor Bahru (Zone A in Iskandar Malaysia). She asked me on Astaka project so I helped her to find out some information on this project. According to the Sales Agent, the project is welcomed by the investor and 50% booked in early stage. To my understanding, the project psf is around RM900, and they come out with large condo (e.g. 2200sf ++). To me, this project attracts those who prefers tighter security and convenience to go to JB CBD / Causeways as it is around 1.5KM away from JB CIQ.

Actually there are already quite a number of developers try to build high rise residential to cater for new demand for those who expect to live across the border once the project of MRT to be linked to JB is completed by year 2018.

As I am not too sure how the things are going on, I do expect more luxurious high rise project to come. I still remembered that many friends / investors not looking good on high rise project developed by KSL, called KSL Resort. The psf could be easily more than RM1,000 which it started to sell about 5 or 6 years ago.

Now, I am not sure whether there is a bubble in JB property market, like what I also doubt in Singapore property market. However, as long as the interest rate is in the lower rate environment, more higher value jobs created in Singapore / Iskandar Malaysia region, and better co-operation in between these two countries, I believe that the price now is justifiable. But I doubt the property price in Iskandar Malaysia could be as high as in Singapore. At least in next 10 years.