This requires serious pondering. Is Singaporeans the real culprit in causing JB current inflationary issues? Yes, if you say thanks to the Singapore govt for giving hundreds of thousands Malaysians a high paying jobs so that they can take advantage of their home country ground to invest and speculate in JB properties and to afford to splurge on their house renovations, dine at Peking restaurant in Sutera.
Have we ever wonder what is the percentage of those who are buying properties in Iskandar areas are actually Singaporeans? Have you ever wonder how many of the active forummers in this forum are Singaporeans? I bet a large percentage of them are actually Malaysian SPRs working in Singapore.
Logic tells us that most of the landed properties has a maximum of 20% foreign quotas and for high rise is 50% foreign quotas. Do u actually believe that Singaporeans are filling up these quotas to the maximum limits of 20% and 50% with no other numbers from other well-oiled foreigners? Who is buying up the balance of 80% of landed house and 50% of high rise apartments? Aren't only Malaysians qualified to do that? Or the balance are left unsolded by developers? Cannot be, right? If the Malaysian locals aren't rich enough to buy up the balance, who else can?
Everytime we thought Malaysians locals salary are too low-paying to afford such high price housing in Iskandar that we forget that there are hundreds of thousand Malaysians working in Singapore with pay that are at least doubled if not tripled that of their peers working in Malaysia. And mind you not all housing projects have their foreign quotas filled up quickly; there are projects still waiting for their foreign quotas to be filled.
When we see the restaurant/cafe, shopping malls in JB are so busy during weekends while almost empty on weekdays, we say it is because of the Singaporeans crowd on weekend? Is it really so? I am not totally convinced by it. Could it not be that during the weekdays the restaurants/cafes and shopping malls are empty because the the hundreds of thousand Malaysian SPRs are busying working in Singapore and only have the time to splurge during weekends in JB?
So do most still want to believe that Singaporeans is the the MAJOR CAUSE of JB inflationary woes?
Malaysian SPRs works happily in Singapore earning extraordinary higher pay than their peers working in Malaysia and buy up houses eagerly in JB. Definitely they are not complaining about the high inflation in JB if not they are hitting at their own toes. While Singaporeans work miserly in Singapore due to high competition pressures from foreigners and was forced to buy up homes in JB due to affordability issues back in their own country. Who is in a heavenly position? Do u love to be a Malaysian SPR or Singaporean?
Who should the the Malaysian locals rightly blame for their inflationary woes, the Malaysian SPRs or the Singaporeans? Or their govt for not closing the property policy loophole by also putting Malaysian SPRs under the foreign quotas or another special quota system to better control the Malaysian SPR influences on property prices?
We will see the test of the JB Iskandar property stability if ever due to global economics crisis and Singapore could not keep the Malaysian SPRs gainly employed before they are able to pay off their mortgage loans. If and if Singapore govt ever stop loving the foreigner workers and start loving its own Singaporean workers more sincerely. If the property prices can be relative stable if such situation occurs, then we can blame the Singaporeans for the major cause of JB inflationary woes.