The property oversupply situation in Iskandar Malaysia, Johor, is "likely to get worse before it gets better", said Maybank Investment Bank's research wing in a report, with property values in an increasingly crowded development space possibly declining over the medium term. In a research note issued by the Malaysian bank on Tuesday (Apr 14) urged investors to be cautious about the region, noting...
Iskandar Development Region (IDR)
Singaporeans seemed undeterred by the recent property tax rules announced by the Malaysian government. More than half of the 192 indicative bookings for the latest project in Medini Iskandar -- Paradiso Nuova -- came from Singaporeans. Its developers say they are confident that the Medini properties will be exempted from the new cooling measures but analysts note that it might be best to wait for...
Property prices in Malaysia's southern Johor economic region, also known as Iskandar, are expected to stabilise following property cooling measures announced in October's budget. With growth averaging 8 per cent a year, Iskandar has attracted over US$40 billion of investment since 2006. Property and manufacturing, accounts for 44 per cent of the total investment. Buoyed by foreign buying, especially...
More property investors are giving Singapore a miss and are snapping up homes in Iskandar Malaysia instead after the government raised the additional buyer's stamp duty (ABSD) earlier this year. Real estate agencies Propnex and OrangeTee said they have seen an increase in sales transactions and enquiries for homes in Iskandar Malaysia in Johor Bahru, and a lot of that demand is from Singaporeans. In...
Plans to raise property tax rates for foreign home buyers in Johor at the end of the year appear not to deter Singaporeans from buying units at the Afiniti Residences in Medini Iskandar Malaysia. It is a joint venture between Khazanah Nasional and Temasek Holdings. Singaporeans made up 25 percent of the buyers. All 147 units were snapped up during Saturday's launch. Malaysians accounted for 72...
Afiniti Residences in Medini Iskandar Malaysia, a joint venture between Khazanah Nasional and Temasek, has been sold out on the day of its launch. The developer said 25 per cent of the buyers are Singaporeans and 72 per cent of the buyers are Malaysians. Prices started from RM500,000 for a studio apartment to less than RM1 million for a 2+study unit, or RM850 to RM1,000 per square foot. The...
There has been strong demand from Singapore for a residential development in Iskandar that is being constructed by Pulau Indah Ventures (PIV), a 50:50 joint venture between Temasek and Khazanah Nasional. According to a statement from the developer, out of the 1,570 applications for Afiniti Residences, around 500 have come from Singapore. Afiniti Residences is a 147-unit premium strata residence...
Singapore-based Pacific Star Development has invested in a prime 339,800 sq ft waterfront freehold site in Puteri Harbour, Iskandar Malaysia, to develop an integrated mixed-use project with a gross floor area of about 1.3 million sq ft. Acquired for RM93.3 million (S$38.8 million) from UEM Land, the master developer of Puteri Harbour, Pacific Star plans to develop apartments, SOHO units and a lifestyle...
Singapore companies are still upbeat about investment prospects in Malaysia, especially in the Iskandar region in Johor. With the general election and political uncertainties out of the way, some have said it is also a good time to consider raising their investments. Business relations between Singapore and Malaysia have rarely been on more solid ground. Singapore companies are among the biggest...
Iskandar Malaysia in Johor has been attracting wide media attention of late, with interest peaking in the middle of last month, when the Prime Ministers of Singapore and Malaysia officiated at the launch of several joint projects undertaken by the private sector of both countries. After seven long years and several false starts since it was launched in 2006, is Iskandar finally taking off? Many Singapore...