Malaysia Property

Johor plans new tax on foreigners buying property

Johor, whose Iskandar region has been a hot favourite with Singaporean investors, plans to impose a tax of 4 to 5 per cent on foreigners who buy property in the state to curb speculative fervour, but analysts say demand from Singapore has already been slowing in recent months amid an increasingly uncertain external environment. Mr Ku Swee Yong, Chief Executive Officer of Singapore-based consultancy...

74% of Nusajaya foreign home buyers are Singaporeans

Singaporeans make up 74 per cent of foreign home buyers in the Nusajaya township in Johor’s Iskandar region, according to Malaysian property developer UEM Sunrise. UEM Sunrise is the master developer of the Nusajaya township. Among its flagship developments in Nusajaya are East Ledang, a garden-themed luxury residential development, and the Teega and Imperia on prime waterfront land in Puteri...

Singaporeans snap up Danga Bay units

After an elaborate campaign to woo buyers featuring fun-fair rides, fireworks displays and free yacht trips at the showflat site, Country Garden Danga Bay, a condominium development in Johor Baru, has sold over 5,000 of the 7,000 units on offer, with 30 per cent of them snapped up by Singaporeans. The project by Chinese developer Country Garden is located in Iskandar Malaysia, some five minutes from the...

Malaysia’s Mah Sing targets Singaporean investors

Singaporeans keen to look for a property in Malaysia may no longer need to travel across the Causeway to make a booking. More Malaysian developers are setting up their sales office and showrooms in Singapore. Following the opening of its sales office in Shanghai last year, Mah Sing Group has opened its second overseas gallery in Singapore to cater to increasing demand from investors here. Mah Sing...

More snapping up homes in Iskandar M’sia

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...

S’porean investors apparently undeterred by proposed Johor property tax hike

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 project fully sold

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...

Strong demand from S’pore for Iskandar residential development

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...

Johor property tax hike unlikely to affect demand from S’pore: industry players

Plans to raise taxes on properties owned by foreigners in Johor are not likely to affect demand from Singaporean investors. Industry players said that is because current tax levels are relatively low, and property tax makes up a very small component of a home owner's total cost. Property tax rates are set to increase for foreign home buyers in Johor at the end of the year. On Sunday, local...

Is Iskandar finally taking off?

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...

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