Iskandar for Singaporeans: Reversal or realisation?

An article by TODAYonline newspaper was forwarded by many in Facebook a few days ago. It was a very long article about the many middle income Singaporeans who have chosen to stay in Iskandar instead of within Singapore. They include a teacher whose daughters are all still studying in Singapore and the whole family travels on a daily basis into Singapore from their home in Nusajaya and by evening, they have dinner together in Iskandar. He said that the daily travelling is a small matter compared to the better quality of life in Johor. He has a three-storey house in Horizon Hills. Yes, a TEACHER in Singapore is able to afford a home inside Horizon Hills. Typically, a landed property within the Horizon Hills is RM1,000,000 (S$370k) or higher.
The article also quoted a retiree. I think for a retiree, the reason is clearer. Will not comment. Another said that they would miss Johor’s friendlier people when they move back to Singapore in a few years’ time. She said, ““Because they look so relaxed, I also feel more relaxed.”  Of course, it cannot be everything positive. One of the family said that when it’s dark, they would stay indoors. They prefer to watch TV instead. It then quoted an investor who said that the current oversupply is crazy and that the demand is nowhere near supply. The investors who are already there said that areas such as Nusajaya would be a better bet than Danga Bay.
Everyone knows that Singapore is a major destination for Malaysians who want to earn more money. Even my cousin brother who could earn around RM3,000 here prefers to earn S$2,800 there because once converted, it’s RM7,500. However, this works ONLY if he really saves money and not simply waste them on the latest smartphones, branded watches or even dining instead of eating at food courts. 🙂   For majority of the middle income Singaporeans, staying in a landed property would never happen in their life time. What about staying in a full facility condominium? Let’s not think about the bigger sized ones. Let’s look at just the 1,000sf ones. This is the actual price, today. Source: PropertyGuru.com.sg

 
 
 
It is hard to predict when the perceived or real oversupply in Iskandar can be cleared. However, when we look at the potential of more middle income Singaporeans thinking about condo or landed versus the current HDB flats they are staying in, perhaps it is clearer that Iskandar may stand a good chance of being their next new home. Sorry, no predictions. Buy if you want, don’t buy if you don’t want. I have no property in Iskandar yet.
written on 4 Apr 2015
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