The prices of Singapore property has been skyrocketing for the past 4 years. Compared to 2008, the prices of property have risen by as much as 40%. This is despite the seven rounds of cooling measures the government has introduced in a bid to slow the growth rate. As more Singaporeans are being priced out of the local housing market, more are heading overseas for property investments.
The Iskandar Malaysia is an effort by the Malaysian government to encourage economic growth the state of Johor. As Iskandar is very near to Singapore, there are also a lot of homes being built there to attract Singaporeans to buy homes in Malaysia. Traditionally, Malaysia has always been an attractive place for Singaporeans to spend their money for shopping and tourism. However, Singaporeans are averse to buying real estate because of lack of support from the local government. The Iskandar region aims to let Singaporeans investors have confidence in buying property in Singapore.
Most Singaporeans like the fact that the Iskandar region is near to Singapore and the price of homes there is almost half of what it costs in Singapore. There are even people commuting between Singapore and Malaysia daily because their work is in Singapore and home in Malaysia. This group of people is set to grow as more locals start to buy homes there and sell their local property.
A few factors have helped Singaporeans decide to buy Iskandar properties, one is the building of a new train system between Singapore and the Johor state. This will link the train system in Singapore with Malaysia and makes travel between the two countries even more efficient. Secondly is the entrance of Singapore companies into the region. This also gives buyers confidence that there is a local presence in the region. Most of the homes being built now in Johor are targeted at Singaporean buyers. The Astaka Condo in Iskandar is only 2 minutes away from the immigration authorities once we cross over from Singapore. It is both attractive as a home and also investment as it is located in the financial centre of Johor.
With such attractive housing projects being launched in Iskandar, it is no wonder more and more Singaporeans are heading northwards to put their money.
