Iskandar Malaysia property market in Johor Bahru
are expected to continue in 2013 as stated by developers, based on the number
of transactions taking place this year. KGV International Property Consultants
(M) Sdn Bhd director Samuel Tan Wee Cheng highlighted most new property
launches in the area were having good response and unlike 10 to 15 years ago,
that many abandoned projects and unsold properties. Iskandar “Malaysia will
continue to drive the growth of the property market in south Johor in years to
come”, he added. He further highlighted Iskandar Malaysia was more viable
compared with other economic growth corridors economic growth corridors in
Malaysia, including the Northern Economic Region, East Coast Economic Region,
Sabah Development Corridor and Sarawak Corridor of Renewable Energy as
government are the backbone of the economic growth corridor.
With the improvement in connectivity and
accessibility makes most areas within the Iskandar Malaysia attracted to house
buyer and are some areas which benefiting from the better road linkage. Tan
added, “Iskandar Malaysia would continue to contribute to the positive growth
in the Johor Bahru property market as it helps boost demand for houses in south
Johor”.
Koh also highlighted that completion of most
flagship projects this and the next couple of years in Iskandar Malaysia would
bring economic spills over to the property sector and influx of domestic and
foreign investors and the presence of new residents and workers in Iskandar Malaysia
would create demand for residential properties as well as office spaces.
Koh added, “Our Rehda members with projects in
Iskandar Malaysia have reported good response for their new launches with no
slowdown or property overhang,’’and statistics compiled from developers taking
part in the Malaysia Property Expo Johor Bahru in 2009, 2010, 2011 and up to
May 2012 showed that they recorded better sales. Nevertheless Tebrau and Skudai
would remain the traditional hot spots for property development projects in
Iskandar Malaysia, others areas were becoming popular with buyers.
