As Singapore’s property market hits its peak and with prices of both private and public housing skyrocketing, more property investors are now eyeing overseas property, with Kuala Lumpur as one of their top choices.
However, Khalil Adis, a property expert and regular contributor to PropertyGuru, believes “there is a limit on how much capital appreciation properties there can achieve as the KL property market has become too saturated.”
He noted that the next frontier in property investment is Iskandar Malaysia.
“Although still a relatively new and untested market, I believe Iskandar Malaysia will rival Kuala Lumpur and set the benchmark for real estate in Malaysia,” he said.
With property developers rallying to acquire land in Iskandar Malaysia, more property launches are also in the pipeline, including the launch of 1Medini Residences in Medini North this year, as well as the completion of the new Coastal Highway.
Meanwhile, Newcastle University Medicine Malaysia (NUMed) in EduCity has already opened its doors while LEGOLAND Malaysia will officially be launched next year with an MRT station built beside it.
Khalil also noted that the International Student Village, the Netherlands Maritime Institute of Technology and a stadium and sports complex are all set to open this year.
“The Singapore and Malaysian government has (also) signed a deal to improve connectivity between Singapore and Iskandar Malaysia which will boost investors’ confidence,” he said.
By 2018, Khalil said that the region “will be buzzing once the planned Rapid Transit System (RTS) between Singapore and Johor Bahru, served by a single co-located CIQ facility, is completed.”
Singapore’s Land Transport Authority (LTA) recently announced the extension of the East-West MRT line to Tuas. It also revealed its plan to build a station in Woodlands that will integrate the upcoming Thomson Line (TSL) with the proposed RTS link between Singapore and Johor Bahru.
“This will increase accessibility across the Johor-Singapore Causeway between Tuas, Woodlands and Johor Bahru.”
“With tourism and education as among the key drivers of the region’s economy, the Malaysian government has this time shown a lot more follow through to ensure the success of Iskandar Malaysia,” said Khalil.
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