Search Articles

in

Recommended For You

Fund managers on hunt for China millionaires
Fund managers on hunt for China millionaires

The Business Times -
23 Jul 2014

Finance execs jump in as rich Chinese show interest in investor vis...


Goldis' offer for property developer seen undervalued
Goldis' offer for property developer seen undervalued

The Business Times -
23 Jul 2014

The Tan family's attempt to tighten their grip on the crown jewel p...


US existing home sales increase 2.6 percent to an annual rate of 5.04 million units for the month of June 2014
US existing home sales increase 2.6 percent to an annual rate of 5.04 million units for the month of June 2014

The Business Times -
23 Jul 2014

US home resales rose last month to their fastest pace in eight mont...



Latest Overseas Ads

Marina Tower, Docklands, Melbourne, Australia
Marina Tower, Docklands, Melbourne, Australia Condominium, For Sale

MARINA TOWER
MELBOURNE ICONIC Condo
By Hiap Hoe L


Cinque, Brisbane
Cinque, Brisbane Condominium, For Sale

2km north of Brisbane
CBD Adjacent to QUT
Universi


Marina Tower Australia Melbourne
Marina Tower Australia Melbourne Condominium, For Sale

MARINA TOWER MELBOURNE
By Hiap Hoe
Limited Launch



Featured Videos

Newsletter

Subscribe to receive the hottest news & property trends, updates on popular properties and promotions from STProperty & our partners

Overseas Property News

Johor property poised to draw spotlight

Iskandar Malaysia, new stamp duty on S'pore property deals drive interest

The Business Times - December 16, 2011
By: Pauline Ng

| More
Johor property poised to draw spotlight-- PHOTO: ISKANDAR MALAYSIA

MORE costly private homes in Singapore - the result of new taxes - as well as perceivable improvements to Iskandar Malaysia, could turn the spotlight on Johor real estate next year.

Analysts expect the southern Malaysian state to benefit from the recent move by the Singapore government to make home ownership more within reach of a wider group, with UEM Land looking in good position to capitalise on the changes given its very sizeable landbank in Iskandar.

Last week, the Singapore government slapped foreign buyers with an additional 10 per cent tax on the value of residential properties acquired. Permanent residents buying second and subsequent homes and Singaporeans acquiring third or subsequent houses were also hit, albeit with an extra 3 per cent tax.

Around the same time, Malaysia's Genting group officially opened South-east Asia's first branded discount Premium Outlets in Kulai Jaya, north of Johor. Already, the Johor Premium Outlets (JPO) has attracted hordes of shoppers to its 70 stores - many apparently from Singapore - few leaving without bags. So encouraged are its owners, Genting Plantations and Premium Outlets, that they are already talking about the second phase of 60 additional stores and a water theme park in three to four years' time.

Local daily The Star reported that in total some RM1 billion (S$410.5 million) would be invested in the JPO project with other components in the pipeline to include a 2,000 room hotel with facilities for the lucrative meetings, incentives, conventions and exhibitions segment.

Although not within the special economic zone, JPO will certainly bring more locals, Singaporeans and other foreigners to Johor. This is set to benefit Iskandar Malaysia which five years to its launch is beginning to look more appealing in part also because a number of infrastructure projects have been completed.

If UEM Land's property sales this year are any indication, interest is mounting. The government linked company sold nearly RM1.8 billion worth of properties in the first nine months compared to RM948 million for the whole of last year.

In the third quarter, the flagship zone of Nusajaya contributed RM382 million compared to non-Nusajaya new sales of RM367 million.

In a client report, CIMB noted demand in Nusajaya appears to be gathering momentum as Q3's new sales topped 1H11's RM357 million. But UEM Land does not expect Nusajaya sales to exceed non-Nusajaya sales until 2013.

Landbanking is also on the rise, with the report noting a buyer's interest in 100 plus acres of Nusajaya land valued at over RM100 million. The sale is only expected to be concluded next year.

At the Putri Harbour area, UEM Land's maiden condo project of 246 units soft-launched in September is 61 per cent sold.

Prices averaged RM725 psf, 'a figure unheard of in Johor,' the stockbroker observed.

Four out of ten buyers were Malaysians, the rest from Singapore and Japan. Several purchased units because they plan to send their children to EduCity where Marlborough College and the medicine faculty of Newcastle University will be located.

UEM Land is apparently toying with the idea of bringing forward two condo projects but marketed under the Sunrise brand, having bought out the shareholders of the luxury condo developer last year.

| More

Ease ABSD for Singaporeans, urges Wing Tai boss

Ease ABSD for Singaporeans, urges Wing Tai boss

The Business Times - 18 Jul 2014

But it should be kept for foreigners as hot money remains an issue


HDB to allow sellers to extend stay in resale flats

HDB to allow sellers to extend stay in resale flats

The Business Times - 22 Jul 2014

FLAT sellers will, with effect from Tuesday, be able to negotiate with buyers for a temporary extension of stay in their flats sold by up to three months.


Cooling resale market: Not time to boost demand

Cooling resale market: Not time to boost demand

The Straits Times - 23 Jul 2014

THE cooling demand for resale Housing Board flats has put some sellers in a quandary.

View articles from these categories

X

Danish housing bubble spurs industry look at German model

The Business Times - December 1, 2011