Living in JB 3 (Johore)

[wuqi256]

Factory space in Tuas is not cheap now. And I don't been want to talk about Jurong. $$$!

Agree, that is why businesses are going to head further west since things are different now for certain types of industries, from my limited knowledge, the labour issue is slowly being eased up.

 

[wuqi256]

Early bird gets the worm.

Very obvious MY is getting bolehyer and bolehyer everyday (other than some hiccups along it's long journey) while opposite is true for SG esp in terms of livable space and price-wise. But most Sgreans still don't see this yet until maybe at least 5-6 yrs down when many projects are already up and running or midway under construction like HSR and RTS. By that time, you're already a big time tycoon! Haha!

Btw, what do you think of Sunway Iskander? Quite interested in getting an apt unit there for rental yield.

I am just a small fry in the scheme of things, just my friends or those otherwise tend to give me way more credit than i am due, still a nobody after all these years.

It is a good project opposite Avira in Medini, not bad project. The office lots have long been sold. They have theme park experience plus office plus the natural views
and of course their BRT which runs through Medini. I am not involved in any marketing for them but would say its a good project overall. For rental yield wise, there are other projects as well to consider as apartments are too plentiful.

I am still in buying mode but very selectively as through my learned contacts, i have access to a number of projects so humbly still learning.

 

[wuqi256]

New Rules to restrict foreigners.

I believe the Selangor restriction is a political move and does not reflect reality. Of course, the effect maybe enclaves of foreigners which may not enjoy the full benefits of the locals. But this will happen many years down the road...

At this juncture, in Johore Iskandar, after a spade of new rules including the increase in toll rates and the expected implementation of JB's VEP fees and the influx of Chinese developers, the property sector does not look bright. Many investors who placed their money in Singapore properties say 10 years ago, can now hope to get a good return in rental or resale. They believe they could do the same in JB. Of course, we cannot see what the future will bring, but I think, many Singapore investors are hoping for the same rewards in JB. Unlike Singapore, JB is very different. It does not have many good rental income or resale prices unless they bought the properties many years go. Sales talk of a good rental income for a new condo apartment is merely just blowing hot air. So my take is that buyers should look forward to their own stay and enjoy JB lifestyle if they want to. If there is good rental or resale price, that would be a big bonus. In at least another 10 years?

Those who came in early can rest well, those who came late can still expect some meat but those who only came in next year will mainly get the bones unless the great D comes along, then all will be lost regardless which side of the causeway one is on. Investors in countries with traditionally very low interest rates will be one of those hit the hardest when banks have to hike it up.

 

[wuqi256]

Something that i would like to share here about partnership which remains the main reason why i am very wary of entering into any these days.
Many knows the word but few realize the significance and meaning of it. This is my own definition of a partnership, it may be off but its my definition.

What is a partnership?

A partnership in business is a cohesive decision making process between mainly 2 persons or more in the partnership.

It centers on agreement and making things happen and down to details like costing, new hires and business directions should always be something discussed and then only proceeded upon on consensus and agreement. It should never be dictatorial or decisions made unilaterally, to do so defeats the very idea of a partnership.

 

[cheerguan]

I am just a small fry in the scheme of things, just my friends or those otherwise tend to give me way more credit than i am due, still a nobody after all these years.

It is a good project opposite Avira in Medini, not bad project. The office lots have long been sold. They have theme park experience plus office plus the natural views
and of course their BRT which runs through Medini. I am not involved in any marketing for them but would say its a good project overall. For rental yield wise, there are other projects as well to consider as apartments are too plentiful.

I am still in buying mode but very selectively as through my learned contacts, i have access to a number of projects so humbly still learning.

Thanks. Am seriously considering getting a small unit.

 

[RedsYNWA]

Yes agree and probably through zones for foreigner purchase.

Read in Sin Chew Daily that the 'International Zone' has been planned for Tebrau Coast & the seaview areas such as Danga Bay and of course R&F. Personally I think they should restrict through higher stamp duties like SG, rather than to create foreign enclaves which are unhealthy for a country's development.

Seems to be going backwards into the days of Old Shanghai's 法租界 etc.....

 

[RedsYNWA]

Old news, but take a look at the proposal of high tax rates for foreigners in the International Zone. Could be as high as 10%. If this is 1-off stamp duty like SG, still ok. If it's recurring property taxes, I really wonder what Khaled is thinking.......


ttps://my.sports.yahoo.com/news/intern ... AD2SCT8P7/

By Nor Baizura Basri

JOHOR BAHARU, July 11 (Bernama) -- The Johor state government will strive to set up the international zone by the end of the year in efforts to limit foreign property ownership outside the zone especially in Johor Baharu.

Menteri Besar, Datuk Seri Mohamed Khaled Nordin, said the state government was in the process of identifying the zone which would be subjected to high land
assessment rates and high property taxes.

He said the state government was also in the process of identifying the buyers of the properties before setting up the zone. "There is a possibility the zone will be located either in an embankment area or Iskandar Malaysia. "We will impose high land and property taxes in the zone to differentiate between foreigners and locals," he said in an interview with Bernama here today.

Khaled, who is also co-chairman of Iskandar Regional Development Authority (IRDA), said once the zone was set up, the state government would restrict and limit the purchase of properties by foreigners to ensure locals have opportunities to buy them, he said.

"When foreigners stay in the international zone, we will forbid them from buying properties outside the zone. Maybe we will impose a rate of 10 per
cent but that has not been decided yet," he said.

 

[cow138]

What's the purpose of this proposed International zone?
Anything different from the Medini zone.

 

[RedsYNWA]

What's the purpose of this proposed International zone?
Anything different from the Medini zone.

In future, foreigners cant buy Johor properties outside this zone. And they will be subject to high land assessment & property tax in this zone. Sounds like a really silly move by Khaled?

 

[Narmi]

In future, foreigners cant buy Johor properties outside this zone. And they will be subject to high land assessment & property tax in this zone. Sounds like a really silly move by Khaled?

If for own stay still acceptable. But if u r a flipper then difficultlah. But come to think of it the glut of new properties in plannin, devt & vp soon will be catered to who if foreigners restricted to certain zones and if these devt happen to not be in the designated zone then what will become of it? Ghost town like in certain cities in China?

 

[RedsYNWA]

If for own stay still acceptable. But if u r a flipper then difficultlah. But come to think of it the glut of new properties in plannin, devt & vp soon will be catered to who if foreigners restricted to certain zones and if these devt happen to not be in the designated zone then what will become of it? Ghost town like in certain cities in China?

If you are a foreigner, you will be wary of buying a property in the International Zone that may be subject to high land assessment & property taxes. But on the bright side, it may help the rental market. More foreigners may choose to rent out their SG properties to rent in MY instead, and enjoy the differential.....

 

[malpaso]

If you are a foreigner, you will be wary of buying a property in the International Zone that may be subject to high land assessment & property taxes. But on the bright side, it may help the rental market. More foreigners may choose to rent out their SG properties to rent in MY instead, and enjoy the differential.....

Not really true, bro. a singaporean who seek to arbitrage rental btw sing and JB will choose the cheaper properties to rent. they may not go for the international zone. and since all foreigner will in future be restricted to these zones, the govt and developers will simply jack up prices and taxes since thse foreign owners are now all zoned together (like sitting ducks); these in turn will add to the cost of ownership within these zones vs local zones, hence forcing owners to seek higher rents compared to outside of these zones. makes sense?

overall, another regressive step from the authorities, in an escalating series of blunders.

 

[matx3315]

This will kill the market over in JB..
This means only foreigner can only sell to foreigner.
Rental: To who?

 

[cow138]

I like the term.. Sitting ducks. Haha. Very appropriate.
But this article was in July right?
Any update so far?
It really sounds insane. How about those that have already invested? In future can only resell to locals? What's going on?
The Johor state govt should decide whether they are serious for people to invest in their state and not take investors for granted.

They're not the only game in town.

 

[cheerguan]

Is the state now trying to kill Iskander off? And the Federal been keeping rather quiet so far.

Is the state gov and sultan included in the Iskander planning committee on day 1 since Iskander is in Johor? If not, maybe this is the reason for the present gloom. I think is still not too late now inviting them into the committee and start making firm concrete plans and decisions so as to avoid all these flip flopping of policies both present and future, for the confidence of developers and investors.

 

[FHBH12]

Is the state now trying to kill Iskander off? And the Federal been keeping rather quiet so far.

Is the state gov and sultan included in the Iskander planning committee on day 1 since Iskander is in Johor? If not, maybe this is the reason for the present gloom. I think is still not too late now inviting them into the committee and start making firm concrete plans and decisions so as to avoid all these flip flopping of policies both present and future, for the confidence of developers and investors.

For areas dominated by locals, the government is not scared that there are no foreign investors.

Foreigners are free to play among themselves within the demarcated international zones. Those who buy there will be subject to high taxes and other fees if they choose to hold or sell.

 

[wuqi256]

They will likely only have certain zones where foreign buyers can buy and sell at higher than standard prices.
Whether or not it will be really implemented is still a question, it might become something similar to what they
already did in Selangor where foreigners can only buy in certain zones with higher minimum price points then
other zones.

 

[RedsYNWA]

I like the term.. Sitting ducks. Haha. Very appropriate.
But this article was in July right?
Any update so far?
It really sounds insane. How about those that have already invested? In future can only resell to locals? What's going on?
The Johor state govt should decide whether they are serious for people to invest in their state and not take investors for granted.

They're not the only game in town.

Last week, I read in Sin Chew Daily that Khaled is still refining the plan. The 'International Zone' should refer to projects that either the Sultan or the GLCs are heavily vested in. This should include all the coastal properties such as Tebrau Coast, Puteri Harbour, Danga Bay & Medini, and parts of Nusajaya.

The problem is which foreigner will knowingly buy in this so-called 'International Zone', given that they have spelt out that the 'International Zone' will be subject to high assessment & property taxes. The greater fear is that the taxes for foreigners may be further revised upwards in future.

 

[cheerguan]

For areas dominated by locals, the government is not scared that there are no foreign investors.

Foreigners are free to play among themselves within the demarcated international zones. Those who buy there will be subject to high taxes and other fees if they choose to hold or sell.

But it's the never ending prata making that's turning off foreign investors who are also important for the success of Iskander. Those of us with a few units already in the international zone, who can we sell to, unless super lelong, as foreign investors already lost their confidence?

 

[FHBH12]

But it's the never ending prata making that's turning off foreign investors who are also important for the success of Iskander. Those of us with a few units already in the international zone, who can we sell to, unless super lelong, as foreign investors already lost their confidence?

I think big investors in Medini, Puteri Harbour and Danga Bay who bought several units in 2012-2013 will be caught. Those who bought just one unit should be fine. Prices could remain stagnant there for several years before moving up again. Afterall GDP and population growths are still positive, and working population is quite young in JB, hence inflation will eventually caught up with the future prices.