2013 will mark the beginning of a property super cycle for Johor Bahru with prices hitting its highest ever level in Johor’s history, predicts Gavin Tee, an international property consultant and speaker. “Prices there will go all the way to the top, in fact to its highest ever level in history making JB the hottest property market in Malaysia,” said the consultant. He continued, “JB will then be the whole nation’s focus and its property will remain prime property for years after that.”
Citing the recently completed catalytic projects such as LEGOLAND and Educity, and the expected completion of Pinewood Studios etc next year, Tee was confident that these would draw more and more people to Iskandar Malaysia in Johor. “As the capital city of Johor, Johor Bahru would reap the most benefit from the boom in Iskandar, and this is enhanced by its multibillion ringgit city transformation plans.”
“JB and by extension, Iskandar will then emerge as the hottest place in Malaysia to invest in from 2013,” the property man told NST RED in an exclusive interview recently.
Singaporeans have acknowledged this and are in fact shifting their investments into Iskandar, according to reports which also revealed that prices of property bought by these early investors have quadrupled since these projects were launched four years ago.
Singapore forms the largest single foreign investor in Iskandar with many investors proposing big investments in the region, among them billionaire Peter Lim with a planned real estate investment (motorsports hub) of RM3 billion, according to reports.