After years of investing in Singapore property, Germaine Ng set her sights on Iskandar Malaysia because of a client who introduced her to the possibilities offered in the region, reported The Straits Times.
“He pointed out to me that Singapore homes are expensive and just across the Causeway, it’s so beautiful and the prices are so low.”
Indeed, when Ng went there for a visit, she was so impressed with Puteri Harbour that she decided to purchase a two-bedroom unit at Imperia – the first condo development launched in the area.
Puteri Harbour is a waterfront development with a marina that can berth 200 yachts and is Johor’s version of Singapore’s One Degree 15 and Keppel Bay.
“The whole environment is really nice, there’s a jetty there and you feel like you’re in Australia,” she said.
Ng got a good deal on the 1,900 sq ft unit she bought, paying just RM1.5 million (S$618,000) or around RM800 psf (S$326 psf).
Comparatively, a 409 sq ft unit at Oceanfront Suites in Pasir Ris was sold for S$1,500 psf, or slightly above S$600,000. Although both units are near the water, Ng’s is freehold while the Singapore property has a 999-year lease.
Aside from Imperia, six other residential projects have been launched in the area, with most of them fully sold.
However, prices have increased since Ng made her purchase.
“Now, the new launches are going for RM1,200 psf (S$489 psf).”
Image: Imperia Puteri Harbour
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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