Iskandar (Johor) properties will stay hot
JOHOR BARU: Developers can expect the “feel good factor” in the Iskandar Malaysia property market to continue in 2013, based on the number of transactions taking place this year.
Unsold properties or property overhang was no longer a dilemma faced by developers in south Johor unlike 10 to 15 years ago, and local developers had learnt their lesson well from the 1997-1998 Asian financial crisis as they were caught unaware, resulting in many abandoned projects and unsold properties.
From 2006 until end-June 2012, Iskandar Malaysia had recorded total cumulative committed investments of MR95.45 bil in various sectors with 43% of the investments already realised.
Domestic investments constituted 62% (RM58.95 bil) of the total investments of RM95.45 bil, while the remaining 38% (RM36.50 bil) were from foreigners.
Iskandar Malaysia was more viable compared with other economic growth corridors economic growth corridors in Malaysia, including the Northern Economic Region, East Coast Economic Region, Sabah Development Corridor and Sarawak Corridor of Renewable Energy.
Located in the southernmost part of Johor, Iskandar Malaysia covers 2,217 sq km and is three times bigger than Singapore. A government-backed economic growth corridor, Iskandar Malaysia had strong backing fin terms of funding for infrastructure development projects.
The government had spent RM7.31 bil on infrastructure in Iskandar Malaysia since 2006 on the upgrading and construction of new roads and highways, flood mitigation, river cleaning and public housing.
The completion of the New Coastal Highway, the Eastern Dispersal Link Expressway and the Southern Link would help to push demand for properties, Tan said, adding that among the areas benefiting from better road linkages were Bukit Indah, Perling, Sutera Utama, Nusa Bestari, Seri Alam, Kempas, Setia Tropika, Senai, Kulai, Nusajaya, Skudai and Tebrau.One advantage about Iskandar Malaysia was that most the of roads and highways were toll-free unlike in the Klang Valley.
The inception of Iskandar Malaysia, property prices in south Johor had not seen many changes but now the prices were on the upward trend.
He said, for instance, the price tag for an intermediate double-story link house now ranged from RM200,000 to RM500,000 each while a bungalow was now selling at between RM1mil and RM5mil.
On January 19 and 20, Primeland Estate Agency will be launching properties in Malaysia,The Verdana in Kuala Lumpur and the Strait View in Iskandar, at the Empire Hotel & Country Club, from 10.30am to 7.30pm.
For more details, please call for assistance at 2424738/39/40 or visit our office in Kg Mata Mata Gadong.