atans1

What a 4-room HDB flat buys in Iskandar & KL.

In Malaysia, Property on 01/12/2013 at 4:28 am
Why it’s right to vote for the PAP if one has fully-paid up or even if 50% paid up,  landed, condo or HDB flat:
While Horizon Hills surrounds a golf course and is luxurious by Malaysian standards, homes cost far less than in Singapore. Four-bedroom houses in the 1,200-acre (487-hectare) development, popular with expatriates, are advertised online at $270 per square foot, compared with the $503 per square foot asked for a four-bedroom public-housing flat in Singapore’s central Bishan district.
The average price of a new 1,000-square-foot (93-square-meter) condominium in Singapore is between $800,000 and $960,000, according to London-based broker Savills Plc. A similar-sized place in Kuala Lumpur costs about $374,000, according to CBRE Group Inc.’s Malaysian unit. [[Less than 4-room HDB flat too.]
(http://www.bloomberg.com/news/2013-11-19/singapore-property-boom-fuels-malaysia-spillover-bubble.html)And property in Iskandar will only get cheaper:
Iskandar developers seen taking a big hitHeftier taxes, scrapping of easy financing will deter buyers, says RHB ResearchDEVELOPERS with substantial exposure to the Iskandar Malaysia region are expected to be the “worst hit” by recent property measures, as heftier taxes would deter short-term foreign purchasers who also account for a significant portion of residential sales in some areas, a research house has said.

At the same time, overseas developers are expected to be more cautious about land transactions as more punitive taxes could lead to higher landholding costs, said RHB Research.

CBRE data indicates that foreign buyers account for 54 per cent of total high-rise residential sales (by developers) in Nusajaya, and 39 per cent in Johor Baru and major suburbs.

But the new 30 per cent RPGT (real property gains tax) on foreigners who gain on disposals within the first five years of acquisition is likely to “wipe out short-term foreign speculators to a certain extent”, RHB observed in a real estate report dated yesterday. (Friday’s BT)

Related posts: https://atans1.wordpress.com/tag/iskandarland/

https://atans1.wordpress.com/2013/11/04/paps-view-of-us-40ers/

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