Page 1 of 4 1234 LastLast
Results 1 to 30 of 96

Thread: Iskandar property prices shoot up

  1. #1
    Join Date
    Oct 2011
    Posts
    10,829

    Default Iskandar property prices shoot up

    http://www.straitstimes.com/archive/...shoot-20130317

    Iskandar property prices shoot up

    Agents see stronger buyer interest, rising capital values in Malaysia's economic corridor

    Published on Mar 17, 2013


    Kuala Lumpur - The last six months have seen a tremendous spike in property prices in Iskandar Malaysia, one of the country's most successful economic corridors, with interest and imagination fired by warming of government ties between Singapore and Malaysia and the completion of several infrastructure projects.

    While property agents from both sides of the Causeway say they have never seen such a steep climb in interest in the last two years, it is the last six months that have taken their breath away. Everything, from price to interest from foreigners, has been strastospheric.

    How much of this is hype and how much of it is for real?

    Although there have been occasions when agents have been "overly optimistic" and exaggerated sales numbers, Jones Lang LaSalle head of residential project sales David Neubronner says they are seeing more enquiries in recent months, stronger buying interest and rising capital values.

    Show houses and apartments in Iskandar are busy even on weekdays. Good Malaysian property launches in Singapore draw in full houses, says the Singapore-based Mr Neubronner.

    Robust demand is evident at popular developments such as Senibong Cove and Straits View Residences where both have sold out all their previously released landed properties.

    On the residential front, Nusajaya is hogging the limelight with its slew of initiatives and developments coming on board. Of particular interest, says Mr Neubronner, is the Puteri Harbour scheme which boasts luxury waterfront villas, apartments, serviced residences, hotels and commercial developments.

    Other attractions include the new international schools in Nusajaya, like the world-renowned Marlborough College. This has caught the attention of the expatriate community in Singapore and many are making enquiries, says Mr Neubronner.

    Other hot areas are waterfront homes in Danga Bay and Permas Jaya.

    CB Richard Ellis (Johor) director Wee Soon Chit compares today's prices with last June's and as far back as 2006, when Iskandar was first launched.

    Today, vacant bungalow lots in Ledang Heights are priced at between RM100 and RM120 (S$40 and S$48) per sq ft. Last June, they were RM60 to RM80 per sq ft; in 2006, they were RM25 to RM30 per sq ft.

    "There seems to be very strong interest and an element of speculation," says Mr Wee, adding that he has never seen such a dizzying spike in his 17 years in the property market. "Property prices were rather stagnant from 1998 to around 2006."

    As for the industrial sector of the market, prices at the UEM Group's Southern Industrial Logistics cluster in Nusajaya were hovering at RM25 per sq ft in 2006. By last June, they had doubled to between RM40 and RM50 per sq ft and today, lots are transacting at prices as high as RM75 per sq ft, said Mr Wee.

    As for commercial land in Johor Baru, known as the old town, Mr Wee says the latest transaction for a yet-to-be-converted parcel fronting Jalan Abdullah Tahir was RM380 per sq ft.

    In Nusajaya, at least 60 per cent of buyers of residential properties are foreigners compared with 40 per cent in Johor Baru. Prices of high-rise units launched in 2006-07 have moved from RM350 psf then to RM1,200 psf now.

    Mr Wee says it is not really "an apple to apple comparison" because they are now seeing better finishes and designs.

    The Star/Asia News Network

  2. #2
    Join Date
    Mar 2008
    Posts
    706

    Default

    I know this has been discussed before but realistically speaking, when one wants to sell, is there ready buyer demand for resale pptys?

    Quote Originally Posted by reporter2
    http://www.straitstimes.com/archive/...shoot-20130317

    Iskandar property prices shoot up

    Agents see stronger buyer interest, rising capital values in Malaysia's economic corridor

    Published on Mar 17, 2013


    Kuala Lumpur - The last six months have seen a tremendous spike in property prices in Iskandar Malaysia, one of the country's most successful economic corridors, with interest and imagination fired by warming of government ties between Singapore and Malaysia and the completion of several infrastructure projects.

    While property agents from both sides of the Causeway say they have never seen such a steep climb in interest in the last two years, it is the last six months that have taken their breath away. Everything, from price to interest from foreigners, has been strastospheric.

    How much of this is hype and how much of it is for real?

    Although there have been occasions when agents have been "overly optimistic" and exaggerated sales numbers, Jones Lang LaSalle head of residential project sales David Neubronner says they are seeing more enquiries in recent months, stronger buying interest and rising capital values.

    Show houses and apartments in Iskandar are busy even on weekdays. Good Malaysian property launches in Singapore draw in full houses, says the Singapore-based Mr Neubronner.

    Robust demand is evident at popular developments such as Senibong Cove and Straits View Residences where both have sold out all their previously released landed properties.

    On the residential front, Nusajaya is hogging the limelight with its slew of initiatives and developments coming on board. Of particular interest, says Mr Neubronner, is the Puteri Harbour scheme which boasts luxury waterfront villas, apartments, serviced residences, hotels and commercial developments.

    Other attractions include the new international schools in Nusajaya, like the world-renowned Marlborough College. This has caught the attention of the expatriate community in Singapore and many are making enquiries, says Mr Neubronner.

    Other hot areas are waterfront homes in Danga Bay and Permas Jaya.

    CB Richard Ellis (Johor) director Wee Soon Chit compares today's prices with last June's and as far back as 2006, when Iskandar was first launched.

    Today, vacant bungalow lots in Ledang Heights are priced at between RM100 and RM120 (S$40 and S$48) per sq ft. Last June, they were RM60 to RM80 per sq ft; in 2006, they were RM25 to RM30 per sq ft.

    "There seems to be very strong interest and an element of speculation," says Mr Wee, adding that he has never seen such a dizzying spike in his 17 years in the property market. "Property prices were rather stagnant from 1998 to around 2006."

    As for the industrial sector of the market, prices at the UEM Group's Southern Industrial Logistics cluster in Nusajaya were hovering at RM25 per sq ft in 2006. By last June, they had doubled to between RM40 and RM50 per sq ft and today, lots are transacting at prices as high as RM75 per sq ft, said Mr Wee.

    As for commercial land in Johor Baru, known as the old town, Mr Wee says the latest transaction for a yet-to-be-converted parcel fronting Jalan Abdullah Tahir was RM380 per sq ft.

    In Nusajaya, at least 60 per cent of buyers of residential properties are foreigners compared with 40 per cent in Johor Baru. Prices of high-rise units launched in 2006-07 have moved from RM350 psf then to RM1,200 psf now.

    Mr Wee says it is not really "an apple to apple comparison" because they are now seeing better finishes and designs.

    The Star/Asia News Network

  3. #3
    Join Date
    Oct 2011
    Posts
    203

    Default

    If this forum still around till 2030, we should able to see how the Iskandar Malaysia property price raise , crash , raise next 17 yrs

    I still cannot believe what had offer to us -
    1. A sea view , freehold 1000sqft unit at S$500K
    2. A landed , green view, but near malls, edu , 3600sqft at S$300K

    About $500psf VS $100psf,
    What a big differ!

  4. #4
    Join Date
    Oct 2010
    Posts
    4,739

    Default

    Quote Originally Posted by starrynight
    I know this has been discussed before but realistically speaking, when one wants to sell, is there ready buyer demand for resale pptys?
    developer can offer DPS, buyer only pay 10%.
    some developer also offer cash back, so in effect, buyer pay 0%. LTV 100%.
    If price drop, I walk away, no cash on table.

    what can secondary seller offer? i need to take bank loan.
    if i am speculator, why should I buy in secondary market? LTV 70% if not mistaken.

  5. #5
    Join Date
    Mar 2009
    Posts
    6,134

    Default

    Singaporean all are carrot heads. luv to be chopped.
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs

  6. #6
    Join Date
    Feb 2013
    Posts
    72

    Default

    Quote Originally Posted by starrynight
    I know this has been discussed before but realistically speaking, when one wants to sell, is there ready buyer demand for resale pptys?
    I have asked many of my Malaysian friends about buying iskander and ALL advised me to stay away.
    I just had to give iskander a pass ......

  7. #7
    Join Date
    Jul 2011
    Location
    Earth
    Posts
    4,063

    Default

    If buy for own stay or holiday home, then go ahead.
    If buy in hope to rent out then who is going to rent?
    Cos there are so many projects coming out.
    The locals there can buy the cheaper ones along the fringe and let out at a much cheaper rate.

  8. #8
    Join Date
    May 2011
    Posts
    389

    Default

    Me, i am going to rent in ten years time. my budget is RM1,500 only.

  9. #9
    Join Date
    Apr 2009
    Posts
    91

    Default

    I have seem quite a lot of condo in KL run down after few years due to poor maintenance by the property management. The property outlook is worse than HDB after few years

    Landed property seem a better choice as you do your own maintenance

  10. #10
    Join Date
    Feb 2013
    Posts
    72

    Default

    Quote Originally Posted by HCL
    I have seem quite a lot of condo in KL run down after few years due to poor maintenance by the property management. The property outlook is worse than HDB after few years

    Landed property seem a better choice as you do your own maintenance
    If I was gonna buy ...I would buy condos for sure...

    LANDED in JOHORE ? NO WAY LA .... even if gated community ...I have heard too many kelong stories from KL ...the robbers collaborate with your security guards !

  11. #11
    Join Date
    Jun 2010
    Posts
    1,140

    Default

    I have been reading up and checking up...... the idea of having bigger space and nice views is nice but I think alot of these units will be empty after TOP.

    Just checked with my Malaysian staff and he mentioned that near pasir gudang area alot of service apartments, i.e. condominiums were built but quite vacant.....

    Rental yields aren't fantastic and I wonder how the locals afford if the units are beyond their reach for both rental and purchase....

    Artist impression and driving around danga bay feels good but not too sure how the returns will be.....

    I think it's purely hype now..... sudden rush into Iskandar property for this year and people will only realise the developments won't happen so fast then the dip will happen before going up once the industries and tourism sector really matures.....

  12. #12
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    To buy for good rental yield and sell within 5 years for capital gain might be difficult. It is even worst for investors who take up loan with mortgage interest of 4.25%. It really depends on investors' objectives. May be more viable for retired folks.
    Quote Originally Posted by solsys
    I have been reading up and checking up...... the idea of having bigger space and nice views is nice but I think alot of these units will be empty after TOP.

    Just checked with my Malaysian staff and he mentioned that near pasir gudang area alot of service apartments, i.e. condominiums were built but quite vacant.....

    Rental yields aren't fantastic and I wonder how the locals afford if the units are beyond their reach for both rental and purchase....

    Artist impression and driving around danga bay feels good but not too sure how the returns will be.....

    I think it's purely hype now..... sudden rush into Iskandar property for this year and people will only realise the developments won't happen so fast then the dip will happen before going up once the industries and tourism sector really matures.....

  13. #13
    Join Date
    May 2011
    Posts
    389

    Default

    Quote Originally Posted by DC33_2008
    To buy for good rental yield and sell within 5 years for capital gain might be difficult. It is even worst for investors who take up loan with mortgage interest of 4.25%. It really depends on investors' objectives. May be more viable for retired folks.
    like

    it is a retirement home, all else is BS.

  14. #14
    Join Date
    Aug 2011
    Posts
    1,516

    Default

    Quote Originally Posted by p3nboy
    like

    it is a retirement home, all else is BS.
    When i am retired, convenience and safety will be my priorities. In fact, i am looking to shift to a smaller unit.

    Capland at dangabay maybe worth looking at. Anyone knows whether it is FH or 99?

  15. #15
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Get a yacht and berth next to your unit.
    Quote Originally Posted by Rosy
    When i am retired, convenience and safety will be my priorities. In fact, i am looking to shift to a smaller unit.

    Capland at dangabay maybe worth looking at. Anyone knows whether it is FH or 99?

  16. #16
    Join Date
    May 2009
    Posts
    3,677

    Default

    Quote Originally Posted by DC33_2008
    Get a yacht and berth next to your unit.
    isn't that akin to putting a shining beacon that says "come rob me"??

  17. #17
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Then get a sampan.
    Quote Originally Posted by eng81157
    isn't that akin to putting a shining beacon that says "come rob me"??

  18. #18
    Join Date
    Jan 2013
    Posts
    517

    Default

    Quote Originally Posted by DC33_2008
    Then get a sampan.

    Or hire a bodyguard. Many wealthy people in Malaysia have a few bodyguards. I even heard of a businessman who carries a handgun. And not, he is not gangster but head of a listed company.
    狮子王 (formerly blackjack21trader): READ MY LIPS: NO MORE CRASH FOR 60 YEARS.

  19. #19
    Join Date
    May 2009
    Posts
    3,677

    Default

    Quote Originally Posted by DC33_2008
    Then get a sampan.
    and die from exhaustion?? dayung sampan, dayung dayung sampan

  20. #20
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Sampan with a motor? Even better sampan can be transformed to ??
    Quote Originally Posted by eng81157
    and die from exhaustion?? dayung sampan, dayung dayung sampan

  21. #21
    Join Date
    May 2009
    Posts
    3,677

    Default

    Quote Originally Posted by DC33_2008
    Sampan with a motor? Even better sampan can be transformed to ??
    transformed to.......megatron??

  22. #22
    Join Date
    May 2011
    Posts
    389

  23. #23
    Join Date
    Jul 2009
    Posts
    7,482

    Default

    Quote Originally Posted by eng81157
    transformed to.......megatron??
    what an insult to megatron, lol.

    but back to the topic, it's a good time to be a developer in johor right now.

    i have a friend who bought something in iskandar, his whole street of units are almost all owned singaporeans. and i haven't heard of a ready and resilient resale market as yet.

  24. #24
    Join Date
    Mar 2008
    Posts
    706

    Default

    Same here - my acquaintance has been posting photos of his Medini ppty, and 80% of the cars in the photos have Singapore licence plates. Half are "expensive" cars like Audi A5s, Jaguar XFs, etc.

    Quote Originally Posted by kane
    what an insult to megatron, lol.

    but back to the topic, it's a good time to be a developer in johor right now.

    i have a friend who bought something in iskandar, his whole street of units are almost all owned singaporeans. and i haven't heard of a ready and resilient resale market as yet.

  25. #25
    Join Date
    Jul 2009
    Posts
    7,482

    Default

    put the other way, if you aren't planning for an immediate retirement and there is a resale at Ringgit850k vs a developer selling a brand new unit at Ringgit1mio. Which will you buy?

    if one thinks that they would buy it at $850k, then good for them, I think there are lot of units to choose from.

  26. #26
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Malaysia developers capitalising on the goods news and market at orchard hotel this weekend organised by propertyguru. So many countries are tapping on people in singapore.

  27. #27
    Join Date
    Mar 2009
    Posts
    6,134

    Default

    i personally wont touch iskanda with the 10 meter stick.
    “Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
    ― Martin Luther King, Jr.

    OUT WITH THE SHIT TRASH

    https://www.facebook.com/shutdowntrs

  28. #28
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Just a case study for your analysis. A person with multiple properties will have to pay 10% absd $100,000 for a $1million and not economical to sell since there is seller's stamp duty. Is it wise to invest the $100,000 into this area w/o taking loan and as holiday home?
    Quote Originally Posted by minority
    i personally wont touch iskanda with the 10 meter stick.

  29. #29
    Join Date
    Oct 2011
    Posts
    203

    Default

    Care to share why? Good to hear differ opinion

    Quote Originally Posted by minority
    i personally wont touch iskanda with the 10 meter stick.

  30. #30
    Join Date
    Jul 2008
    Posts
    804

    Default

    From the perspective of one who is vested in Iskandar, my view is that over the next 10-15 years, Iskandar will be transformed, regardless of the outcome of the upcoming Malaysian elections.

    Firstly, connectivity with Singapore will improve through MRT links. Secondly, the Johor sultan owns huge tracts of land around the Iskandar region, and therefore there are strong vested interests to ensure its development. Thirdly, Singapore faces constraints on her land resources, which means growth of more land intensive activities will have to take place in Iskandar. The foreign direct investment (FDI) momentum into Isakandar is gaining traction. For 2011. RM5.7B in FDI flows was captured in Iskandar. With the exemption of 30% Bumiputra ownership for foreign companies based in Iskandar (under IDR scheme), the region will grow with time to compete with Singapore. The following link gives pretty good insights on the attractiveness of the Iskandar region. The Malaysians are definitely catching up in terms of sophistication. http://www.iskandarmalaysia.com.my/p...n_Iskandar.pdf. And lastly, economic and social infrastructure is leveling up. All major banks (Stanchart, HSBC, Hong Leong, UOB) are in Iskandar. Healthcare systems are coming on stream (parkway group, raffles medical group, Thomson medical are all establishing presence in Iskandar). Even the world's largest theme park operator, Six Flags, had announced a 1.5B theme park in Iskandar early this year, doubling the size of legoland.

    Depending on time horizon, Iskandar has promise. But if one is risk averse, no harm maintaining a holiday home over there as a form of consumption. After all, SGD 300k can buy a good size brand new landed over there, whereas the same amount probably pays for the ABSD over here. A&A and devt charges in Singapore is closer to half a million these days. Everything is incredibly expensive, and in my perspective, that's far riskier.

    Glad to hear differing constructive views.

Similar Threads

  1. Iskandar home prices surge as demand spikes
    By reporter2 in forum HDB, EC, commercial and industrial property discussion
    Replies: 4
    -: 15-08-13, 11:27
  2. New private home sales in April shoot up to 3-year high
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 24-05-12, 03:25
  3. High-end sales at CCR shoot up 247% in April
    By dtrax in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 16-05-12, 19:12
  4. Home prices shoot up, rentals arrest their slide
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 3
    -: 25-10-09, 10:31
  5. Private resale home deals shoot up in Q2
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 2
    -: 25-06-09, 11:18

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •