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Old June 21st, 2017, 11:19 PM   #10281
Vince
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Great concept for the overhead pedestrian walkway.
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Old June 22nd, 2017, 09:06 AM   #10282
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Source: http://www.propertyguru.com.my/prope...-of-new-houses

Iskandar Population Can Handle Thousands of New Houses
• June 22, 2017

Despite fears over an oversupply of houses, the Iskandar Regional Development Authority (IRDA) believes that Iskandar’s future population would be able to absorb the large number of residential properties being built by Chinese developers, reported The Straits Times.

From 1.45 million in 2005, the economic corridor now has a population of 1.8 million. But by 2025, the economic corridor is forecasted to house three million people.

Eight years from now, Iskandar would need around new 500,000 houses, said IRDA CEO Ismail Ibrahim. In comparison, the Chinese developers are constructing another 20,000 to 25,000 residential units.

If Iskandar’s population increases as forecasted, a supply glut is unlikely to happen despite the huge number of apartments being constructed by Chinese developers like Country Garden.

Last year, Country Garden sold 16,000 high-rise apartments in its Forest City project, which is sited on four man-made islands off Johor. It has also reclaimed 2.24 sq km of land since March 2015, and it intends to keep going until it hits 20 sq km.

Its other project is Danga Bay, which was unveiled in 2013. While this only has a total of 9,400 units, this development is still larger than those in Singapore, considering that developers in the city-state only sold around 8,300 private houses for the whole of 2016.

But due to concerns over a possible supply glut, experts revealed that the prices of luxury condominiums in Iskandar is estimated to have declined by 5 to 10 percent since 2013.

Despite reports of falling prices, many people are still investing in Iskandar properties. For example, about 30 per cent of buyers in the 9,400-unit Danga Bay project comprises Singaporeans, who will be receiving their keys in the next few months

Singaporeans are not just buying properties in Iskandar for long-term capital gains, but also to enjoy a better lifestyle as it’s more affordable to acquire a spacious landed home there, far from the bustle and hustle of Singapore.

“It is so tranquil, there’s no sound of traffic. My mother and wife are so happy there,” said 51-year-old Vivek Parasher, a business development director.

While he owns a condo in Singapore’s Bukit Batok area, he is eager to relocate to his landed home in Iskandar even though he has to spend to two hours daily to commute between his home and office.

But Vivek’s travelling time is expected to be shortened once the Rapid Transit System that links Woodlands to Johor Bahru is ready, along with the highly-anticipated Singapore-Kuala Lumpur High Speed Rail (HSR) that will pass through Iskandar.

Experts are optimistic that once these transport links are completed, more Singaporeans will buy houses in Iskandar.

In fact, enquiries about residential properties in the region have increased by 10 percent to 20 percent since 2015, said Eugene Lim, Key Executive Officer of property agency ERA.

However, he noted that demand remains lukewarm, with a “few hundred” Singaporeans at most mulling to reside there.

In contrast, ERA’s Regional Director for Malaysia Ryan Khoo is more bullish, estimating that “tens of thousands” of Singaporean retirees are tempted to live there, while leasing out their flats in Singapore to leverage on the stronger exchange rate of the Singapore dollar against the Malaysian ringgit.

Furthermore, IRDA CEO Ismail Ibrahim is confident on Iskandar’s long-term outlook, pointing out that the region secured RM32.15 billion (S$10.4 billion) in investment commitments, exceeding its RM25 billion target.
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Old June 23rd, 2017, 05:11 AM   #10283
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AirAsia to add more international destinations from Johor Baru this year

Read more at http://www.thestar.com.my/business/b...vowBVbqIQ37.99
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Old June 23rd, 2017, 02:24 PM   #10284
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How many of those extra 400k people can afford to live in high end ones in iskandar? many condos VPed in nusajaya etc recently are empty after many months. what happened to these 400k people?

[QUOTE=JB Citizens (+_+);140791006]Source: http://www.propertyguru.com.my/prope...-of-new-houses

Iskandar Population Can Handle Thousands of New Houses
• June 22, 2017

From 1.45 million in 2005, the economic corridor now has a population of 1.8 million. But by 2025, the economic corridor is forecasted to house three million people.

Eight years from now, Iskandar would need around new 500,000 houses, said IRDA CEO Ismail Ibrahim. In comparison, the Chinese developers are constructing another 20,000 to 25,000 residential units.

If Iskandar’s population increases as forecasted, a supply glut is unlikely to happen despite the huge number of apartments being constructed by Chinese developers like Country Garden.
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Old June 23rd, 2017, 03:41 PM   #10285
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Quote:
Originally Posted by Carlyle1 View Post
How many of those extra 400k people can afford to live in high end ones in iskandar? many condos VPed in nusajaya etc recently are empty after many months. what happened to these 400k people?
Alive & scattered in JB District... Maybe went shopping at night... Some may counting days for Paradigm Mall & Ikea opening...

Condos in Iskandar Puteri are mostly u/c... Many supporting sectors & facilities are also u/c like new malls, office units, parks & others... So, not surprised if owners postpone to move... Many are waiting for the keys... They cannot just live in u/c condos... The construction workers must be shocked to death to see furniture inside u/c units...

Perhaps u can ask the experts why developers proceed the constructions in Iskandar Puteri... They are aiming for long term profits when most of us only see empty units as no demand... Even if worst case scenario occur bubble in Iskandar, it only benefits the local to snatch a unit... Seems like too many speculation about over supply in Iskandar... Seems like a wish for the entire nation... But if it happens, don't be shock if the units suddenly fill up fast... hahaha... Eyes on the units guys... Be prepared...

If bubble, I believe the entire nation will be so happy & start laughing at JB... They have the last laugh... But then what? Snatch a unit in Iskandar?... It's like spitting on your own face...
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Old June 24th, 2017, 05:53 PM   #10286
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Quote:
Originally Posted by Carlyle1 View Post
How many of those extra 400k people can afford to live in high end ones in iskandar? many condos VPed in nusajaya etc recently are empty after many months. what happened to these 400k people?
Quote:
Originally Posted by JB Citizens (+_+) View Post
Alive & scattered in JB District... Maybe went shopping at night... Some may counting days for Paradigm Mall & Ikea opening...

Condos in Iskandar Puteri are mostly u/c... Many supporting sectors & facilities are also u/c like new malls, office units, parks & others... So, not surprised if owners postpone to move... Many are waiting for the keys... They cannot just live in u/c condos... The construction workers must be shocked to death to see furniture inside u/c units...

Perhaps u can ask the experts why developers proceed the constructions in Iskandar Puteri... They are aiming for long term profits when most of us only see empty units as no demand... Even if worst case scenario occur bubble in Iskandar, it only benefits the local to snatch a unit... Seems like too many speculation about over supply in Iskandar... Seems like a wish for the entire nation... But if it happens, don't be shock if the units suddenly fill up fast... hahaha... Eyes on the units guys... Be prepared...

If bubble, I believe the entire nation will be so happy & start laughing at JB... They have the last laugh... But then what? Snatch a unit in Iskandar?... It's like spitting on your own face...
Middle and long term prospect remains good but short term (5-10 years) very bad.

Besides the mismatch btw affordability and the type of properties being built. There are also many known unknown that really hard to judge whether those condos are viable project. One key component is the public transport to singapore (HSR) that able to increase people willingness to live in those condos. Like I said before, if HSR station build in forest city, i would confidently say forest city still undersupply. One thing for sure, where HSR station (to a lesser extent, BRT stations) will be built, there will be a cluster of condoes surrounding it. Many of those condos that are now being built will suffer if there is no public commute being around in close proximity.

There will be 2 type of market happen to high end condos -the one where many people sought after (maybe easy access to public commute or nearby easy access to shops/mall) -the one that hardly anyone want to buy nor rent. If you want to snatch a unit for a bargain, certainly go for the former one. However, i do believe bubble risk remain low, render such opportunity (buying sought after property at bargain price) low.

If price generally drop by large scale, then good for johorean la to snatch up bargain as the bubble burst. But if some up some down, then this is not bubble, it is just the market reflect the untested market in iskandar puteri, buying cheap after price drop may gets you in trouble.
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Old Yesterday, 08:50 PM   #10287
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Or one can buy dirt cheap for units in abandoned buildings after the developers take off.
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