AFFORDABLE PROPERTY PRICES Property prices in Johor are still reasonable compared with those in Kuala Lumpur and Penang despite the spill-over from booming development in Iskandar Malaysia. Malaysia Property Expo (Mapex) committee chairman K.K. Wong said the prices of new houses were still under RM400,000. “The price of new housing projects in the state is quite affordable, with prices ranging from RM400,000 downwards, while an apartment is sold for between RM400 and RM1,200 psf depending on the location. “This is a good time to invest as the property market in Johor is growing. Now that the general election is over, we expect both Malaysians and foreigners to take advantage of this by buying properties here,” he told reporters after launching the Johor Mapex 2013 expo at City Square shopping complex here. The good ties between Singapore and Malaysia had also enabled Johor to experience a booming economy as well as attract more foreign investors to set up their businesses here, said Wong. “Besides investors from Singapore, there has been an increase of buyers from Japan, South Korea and Europe. Many of them prefer to buy properties in Nusajaya, Johor Baru and Tebrau, which have lots of commercial activities,” he said. It was recently reported that the prices of property in areas surrounding the Iskandar Malaysia had gone up. Wong said many high-end condominium and apartment projects were also scheduled to take place here within the next two or three years. With this in mind, he said the Real Estate and Housing Developers’ Association (Rehda) was targeting to sell at least RM900mil worth of properties through Mapex this year. Over 10,000 visitors are expected to visit Mapex, which has more than 40 developers showcasing their projects in the three-day expo. thestar.my/metro/story.asp?sec=southneast&file=/2013/5/29/southneast/13157482
Posted on: Mon, 10 Jun 2013 07:57:49 +0000
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