As planning, building and construction continue at the Iskandar Malaysia project development site, property investors are catching on quickly and lapping the residential properties all up. The recent hike in property prices definitely seem to say it all. Property agents from both sides of the causeway have reported an astounding and sudden spike in foreign interest and sale prices of property in the area.
Is it mere hype or can this activity be sustained and for how long? Will there be a time where investors find themselves holding on to lesser than they had hoped for?
Property agents have been busy showing potential investors the show houses and apartments in the territory and even in Singapore, Malaysian property launches and expos have been garnering renewed interest. The fervent buying could also be due to various countries in Asia tightening their foreign property investor policies, countries such as Hong Kong, China and Singapore. This could be driving investors to look elsewhere in Asia and even in Europe and the States.
The Puteri Harbour scheme, featuring luxury waterfront villas, apartments, serviced residences, hotels and commercial developments, have been one of the top picks so far. The promise of good international schools such as Malborough College in the vicinity has also helped rakes in some interest from expatriates. Waterfront properties in Danga Bay and Permas Jaya have done equally well.
A faint indication of how the prices have changed since 2006 when Iskandar was first launched can be seen in the prices of bungalows in Ledang Heights:
- In 2006 – RM25 to RM30 psf
- In June 2012 – RM60 to RM80 psf
- In 2013 – RM100 to RM120 psf
Prices have risen more than five times the initial launch. Pure speculation or true reflection of what future the Iskandar development holds? Will you be looking to invest in Malaysian properties and do you know where to begin? Don’t forget to keep a lookout for useful tips and learn how to plan your finances for long term investment from industry analysts and experts at property events, seminars and launches.