Up to 75% of recent home buyers at Horizon Hills work in Singapore
By Cecilia Chow
/ EdgeProp Singapore |
Horizon Hills is a township in Johor Bahru with a private 18-hole par 72 designer golf course (The Edge Singapore)
Horizon Hills is a 1,200-acre (485.6ha) integrated township in Iskandar Puteri, Johor Bahru. Now in its 16th year, the project is 60% completed and has a gross development value of RM6 billion ($1.7 billion). The low-density development has 13 precincts, comprising bungalows, semi-detached, cluster and linked houses. The development’s centrepiece is the private 18-hole par 72 designer golf course.
A joint venture between two major listed Malaysian developers, Gamuda Land and UEM Sunrise, Horizon Hills has received many enquiries from Singaporean buyers since the borders between Singapore and Malaysia reopened in April 2022. The launch of its latest phase, Morrinsville, which features linked houses, saw several purchases by Singaporean buyers.
Property prices in Horizon Hills are said to have appreciated more than 50% across all property types, with an average price growth of 60%, according to a Horizon Hills spokesperson.
Over the years, Horizon Hills has developed into a township. Besides houses, it has retail and commercial amenities, such as F&B outlets, grocers and convenience stores. Residents will enjoy a wider range of amenities when the upcoming Horizon Mall and Horizon Square are completed.
Horizon Hills is in its 16th year and has 13 precincts, with a mix of bungalows, semi-detached, cluster and linked houses (Photo: The Edge Singapore)
It also has educational facilities like Invictus International School and SJK Ming Chih, a Chinese primary school.
At least 60% of the site at Horizon Hills is dedicated to landscaping, and over the years, more than 60,000 trees representing over 30 species have been planted across the township. The developer has also retained the natural undulating terrain of the site.
At Horizon Hills, about 60% of the residents are Malaysians. Singaporeans make up 28%, while expatriates from Australia, China, Indonesia, Japan, Korea and the UK account for the remaining 12%.
About 70% of the homes at Horizon Hills are owner-occupied, and homeowners include Singaporeans and expatriates who commute across the Causeway daily. Another 20% use their property as a weekend home, and the remaining 10% are investors.
However, some want to enjoy the lifestyle by renting a property there. Rental rates for landed property at Horizon Hills range from RM2,000 to RM18,000, depending on the property type and furnishing options offered.
“Most Horizon Hills buyers are those upgrading from nearby neighbourhoods and areas within Johor Bahru,” says a representative of Horizon Hills. “Only a few sales originate from tenants transitioning from renting to property ownership within Horizon Hills.”
Recent transactions indicate that over 75% of the buyers are Malaysians working in Singapore, as well as Singaporeans and expats buying property in Horizon Hills as a weekend home. Some purchasers are retirees, where Horizon Hills is their primary residence.
The favourable exchange rate between the Singapore dollar and the Malaysian ringgit also presents a buying opportunity for those working in Singapore. According to Horizon Hills, all the launched properties have been sold except for the condo D’Suites, which is 70% taken up.
In Horizon Hills, a new phase of two- and three-storey cluster homes at Kingswood and semi-detached houses at The Peak will be launched in the coming months and are slated for completion within the next two years.
“The demand for Horizon Hills remains consistently strong, evident from the previous launch in May and July 2023 that was entirely sold out within two months,” says the Horizon Hills spokesperson. “Whether completed or still under construction, the properties continue to attract interest from local and international buyers.”
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