Iskandar property prices surge on Singapore interest
Singapore real estate buyers, driven by rising prices in Singapore, are increasingly looking into property in Iskandar Malaysia, the main southern development corridor in Johor close to the city state’s border.
Real estate agents say that prices have already reaches highs at as much as RM500,000 over bank valuations. Buyers are speculating on further appreciations after the planned intercity rail link between Iskandar and Singapore as well as a the high-speed rail between Kuala Lumpur Singapore will stop at the Johor economic hub.
Iskandar’s rise is driven by top-notch developments by property giants such as CapitaLand and Temasek Holding, and latest projects such as Motorsports City and the Medini mixed development.
Owners are reportedly selling their iskandar properties at hefty premiums, with asking prices far above bank valuations, raising fears that Malaysian buyers are getting squeezed out by wealthier Singaporean investors.
Iskandar Malaysia has so far attracted over $1.87 billion from Singapore firms.
The entire development is split in “flagship zones”, which comprise Johor Bahru City Center, including a new financial district, a new Johor state administrative centre,a tourism resort, a medical hub, and industrial cluster, a new port, an airport and a technology hub.
Singapore real estate buyers, driven by rising prices in Singapore, are increasingly looking into property in Iskandar Malaysia, the main southern development corridor in Johor close to the city state's border. Real estate agents say that prices have already reaches highs at as much as RM500,000 over bank valuations. Buyers are speculating on further appreciations after the planned intercity rail link between Iskandar and Singapore as well as a the high-speed rail between Kuala Lumpur Singapore will stop at the Johor economic hub. Iskandar's rise is driven by top-notch developments by property giants such as CapitaLand and Temasek Holding, and...
Singapore real estate buyers, driven by rising prices in Singapore, are increasingly looking into property in Iskandar Malaysia, the main southern development corridor in Johor close to the city state’s border.
Real estate agents say that prices have already reaches highs at as much as RM500,000 over bank valuations. Buyers are speculating on further appreciations after the planned intercity rail link between Iskandar and Singapore as well as a the high-speed rail between Kuala Lumpur Singapore will stop at the Johor economic hub.
Iskandar’s rise is driven by top-notch developments by property giants such as CapitaLand and Temasek Holding, and latest projects such as Motorsports City and the Medini mixed development.
Owners are reportedly selling their iskandar properties at hefty premiums, with asking prices far above bank valuations, raising fears that Malaysian buyers are getting squeezed out by wealthier Singaporean investors.
Iskandar Malaysia has so far attracted over $1.87 billion from Singapore firms.
The entire development is split in “flagship zones”, which comprise Johor Bahru City Center, including a new financial district, a new Johor state administrative centre,a tourism resort, a medical hub, and industrial cluster, a new port, an airport and a technology hub.
