02 March 2014

Iskandar Malaysia News Update - FEB 2014

Some of the FEB 2014 news which I compiled from various websites:

Summary: Despite rising concerns on weaker property market in Iskandar Malaysia, especially from Singapore investors, the truth is that Malaysia property developers are still venturing here, due to several reasons:

  • Limited land banks in Greater KL and Penang, and Johor government took action to lure more property developers to take greater risks in venturing Iskandar Malaysia (e.g. exemption of the floor price of RM1.0M property purchase in Medini etc.)
  • Cooling measurements introduced by Singapore government have pushed several investors or people (especially Malaysians) working in Singapore to buy a property in Malaysia and you would not be surprised that the traveling hour during peak hours in between the causeway could reach more than 1 hour. 
As the property prices have gone up more than 100% in certain area (e.g. Horizon Hill, Bukit Indah, Tebrau etc) in just 3-5 years time, I do not believe that the price could rise for another 100% in 4 years time, as more and more citizens just could not afford to it as the increase of disposal incomes cannot catch up with the pace of property prices rising here. 

Nonetheless, I believe that as long as the public infrastructure especially MRT could be linked to Johor Bahru CIQ, there would be higher chances that the number of travelers to Singapore could increase by at least 30% further. 

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