By Farah Wahida:
Despite the spill-over effect from the booming Iskandar region, property prices in Johor are still more affordable compared to those in Kuala Lumpur and Penang, reported The Star.
“The price of new housing projects in the state is quite affordable, with prices ranging from RM400,000 (S$165,489) downwards, while an apartment is sold for between RM400 and RM1,200 psf (S$165 – $S496 psf) depending on the location,” said Malaysia Property Expo (MAPEX) Committee Chairman K.K. Wong.
“This is a good time to invest as the property market in Johor is growing. Now that the general election is over, we expect both Malaysians and foreigners to take advantage of this by buying properties here,” he said at the recent MAPEX 2013 in Johor Bahru.
The good bilateral relations between Malaysia and Singapore will also encourage more foreign investments in the region, which bodes well for Johor’s economy.
“Besides investors from Singapore, there has been an increase of buyers from Japan, South Korea and Europe. Many of them prefer to buy properties in Nusajaya, Johor Bahru and Tebrau, which have lots of commercial activities,” Wong noted.
In addition, many luxury apartments and condominiums are set to be launched in the state over the next three years.
Taking this into account, Malaysia’s Real Estate and Housing Developers’ Association (REHDA) had plans to sell at least RM900 million (S$372.27 million) worth of properties at MAPEX 2013.
The expo is believed to have attracted more than 10,000 visitors and 40 developers.
Farah Wahida, Editor of PropertyGuru Malaysia, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
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