Note, the above title is NOT from me. It was mentioned by KGV International Property Consultants (Johor) Sdn Bhd executive director Samuel Tan in his speech during the Malaysian Property Summit Mid-Year Review 2016. He said, “Who says don’t buy in Johor’s property market? You should buy! There are a lot of good property to buy, it is just a matter of where to buy, what to buy and at what price.” He also shared that the Johor property market is inching closer to bottom and is very near to the level of no confidence which meant that in a matter of time, the market will reach the bottom and start to recover.
So, do you agree with his assessment? On a personal note, I have no property in Iskandar yet but I if the right opportunity comes along, why not. So, I think I would have to agree with him at least on the ‘it’s just a matter of where and what to buy and at what price.’ Property market Johor is still consolidating I guess. In Q12016, Johor recorded 9,450 units transacted which is a drop of 24.3percent year on year and 17 percent quarter on quarter. Samuel also shared that some investors seem to believe that the economic corridor has failed. This is not true and in fact property prices are still holding well and Iskandar Malaysia is successful.
I remain optimistic with the prospect of any area next to a city state which is already one of the most expensive cities in Asia. It does not need any genius to understand why. However, in order to leverage on this advantage, the state government or the master planner would need to keep thinking ahead and block out the typical short-term noises. If HSR is going to be ready only in 2026 and building a third bridge has not even been discussed, then it’s time to push ahead on those which has been studied. For example, the Rail Transit System connecting both countries. Perhaps even the Bus Rail Transit. Ferry service can also be considered but it should not be the main connection lah. Happy working on it.
written on 30 July 2016
Next suggested article: Iskandar: Let’s quickly have a working BRT, shall we?