Is it time to relook Iskandar Malaysia?

By Ryan Khoo / Alpha Marketing | March 13, 2018 9:25 AM SGT
I recently encountered a new dilemma when asked where I live. My answer used to be “Sin­gapore” without hesitation, as the city state has been my home for a good eight years now. Considering the amount of time I spend at my second home in Johor Bahru today, however, I now give a vague answer about how I work and live in both cities.
Judging from the heavy cross-border traffic be­tween Singapore and Iskandar Malaysia, I know I am not alone. Despite the typical misgivings on Iskandar Malaysia, there is still a large, silent (or perhaps not-so-silent nowadays) population enjoying the benefits of cross-border living. And with recent events, per­haps it is time to relook at the real estate market in Iskandar Malaysia. Here are five reasons to do so.
With the Singapore dollar now hovering around $1/ RM3, retirement living in Iskandar becomes an in­creasingly attractive option (Credit: EdgeProp Singapore)

Property prices are as attractive as ever

The property market in Iskandar Malaysia has been in a downturn since late 2014. The oversupply has been limited to high-end residential homes, and pric­es have largely mirrored Singapore’s private property price index, falling between 5% and 15% from the peak in 2013. Fire sales and auctions have been fair­ly few so far, however, and most owners have been willing to hold on, especially once they have found tenants.
Some property developers have also slashed pric­es to entice buyers, so better deals can be found com­pared with a few years ago.
Opportunities exist for buyers who are willing to scour the market and buy in the current down­turn while prices and sentiment remain depressed. High-quality completed freehold properties can be found from RM750 psf ($250 psf), still a veritable bargain considering how fast land prices are moving up in Singapore, owing to en bloc sales and govern­ment land sale sites.
Projects like Puteri Cove Residences (show unit pictured) appeal to Singaporeans considering treating their property in Iskandar as their primary residence, a weekend home or future retirement home (Credit: Albert Chua/EdgeProp Singapore)

Rent out your Singapore home and live in Iskandar or vice versa

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