By khaliladis | Posted on April 29, 2016
When I was growing up in Singapore, I recall my relatives telling me cautionary tales about Johor whenever a negative story appeared in the local media. While Johor is a great escape for us urban dwellers, it was a different story altogether when it comes to buying a property and safety. Although cheap in comparison to Singapore, the property market back then was riddled with risks and very much a buyers’ beware market. As a result, Johor’s property market was rather lukewarm and property prices never quite appreciated.
Johor is a huge state spanning from Johor Bahru all the way to Muar. It is now considered one of Malaysia’s wealthiest states with no debts. Johor’s close proximity to Singapore has helped to boost its economy. This was a stark contrast to almost two decades ago.
Since the inception of Iskandar Malaysia in 2006, Johor’s property market has made a remarkable turnaround. When the land swap deal was concluded by the Malaysian and Singaporean governments in 2010, sentiment turned positive, leading to investments by Temasek Holdings and Capital Land in Danga Bay as well as in Medini. At the peak of the market in 2011 to 2013, Singaporeans were seen snapping up properties in Iskandar Malaysia like hot cakes. This had caused property prices to suddenly spike.
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