Great buy. Somehow I got this feeling that a normal terrace in Horizon Hills and East Ledang will be launched from RM 1 million soon. By the time they reach the launching of WaterFall, Peak etc, price will be scary as there are various interesting themes still in place
Thanks, horizonhills. Chances are you will be right. At RM1 million, it's still cheap by S'pore standards - only S$410,000, equivalent to the price of a 4 room HDB flat. Well, that will be good for all of us who have bought houses in Nusajaya. In 10 years' time, the price could go up to RM1.5 million, when Nusajaya is up and swinging. Again, still cheap by S'pore standards. I got texted by an agent in S'pore about 10 Shelford Road - 2 bedroom unit asking for S$1.7 million! 3 bedroom asking S$2.5 million. Crazy or what? How can anyone afford such prices? Only foreigners. Definitely beyond buying power of locals.
Dont get too carried away , always remember it is all about JB living . We are here for sweet and afforable living . I think it is wrong to use SG property as a reference point when we are talking about JB property , it is really very different market leh .
A more acurate reference point might be JB city or at best KL properties .
I disagree. The proximity of Nusajaya to S'pore is the driving factor behind the capital appreciation of the properties. If not, we would all be buying or staying in KL.
It's driven by demand from S'poreans, S'pore PRs and expats working in S'pore, due to the high prices in S'pore. These people prefer to buy or rent in Nusajaya, as for the same amount of money which would buy/rent you a 3-room or 4-room HDB flat in S'pore, you can get a house with garden in Nusajaya. Simple as that.
I am not disillusioned at all. In fact, I'm delighted that there is still a buying opportunity in Nusajaya.
Well if JB can provide our 2 millions FTs trash with pay like 5K sing a month , give them PRs and all the jest our beloved gov provided them , I think Nusajaya got chance to be on par with SG property. If these same group of FTs come to JB , they might not even get RM 2K leh . Tell you wat , I myself might not qualified to be a Malaysian PR even I love to .
If I am not wrong our FTs population is more than the population in JB city liao . I think another part of the equation might be per capital income and citical population size which JB lack. JB city is as old as Singapore independent ,even closer to Singapore , look at properties price there , no where near Singapore leh
What happen if 10yrs down the road , you wanted to sell your property for 1.5M ringit , you are told that you can only sell to local Malaysian because your estate have hit the foreigher threshold of 20% , something like HDB got minority race restriction.
I too belive that Nusajaya property have more room to growth , but might not be leap and bounce lah. Have to tone down expectation especially after the recent run up .
I would like to share my opinion on the above discussion. Firstly, I think you guys basically have the same thinking about the direction of property prices of Nusajaya(or Iskandar as a whole) but expressed it differently. All of you actually foresee that prices will appreciate. The question is, to what extend?
Nusajayaphile used Singapore's price to give a rough idea of possible future prices of Nusajaya(Iskandar) but was mistaken that he thinks Nusajaya's price can, in the future, reach Singapore's price. He don't mean it that way at all, he simply meant that for example if Singapore's lower end price of private properties are around SGD800 psf, Singaporeans will feel that SGD200 psf in Nusajaya is still very affordable.
Jason, on the other hand, suggested using KL's price as the highest possible reference point, that'll be maybe around SGD300 psf. So even if it don't reach KL's price, it'll still be around SGD200 psf. Thus, both are actually talking about roughly the same possible target. (Note; Present price for high end properties in Nusajaya is around SGD100 psf)
As for the need for JB to have its own high-population of middle-income earners in order to sustain such high-end properties and its pricing. My view is that 50% of these middle-income earners will be from Singapore. Not just Singaporeans, but anyone earning their income in Singapore but wanting to be 'Living in Johor'. Aren't you guys in this thread doing that now? The number of like-minded ones will increase when Nusajaya is more developed. More HDB owners, just like some of you here, will also want to rent out their pigeon hole and stay in a nice landed property located in a nice city like Nusajaya, at an affordable price. Thus, Johor don't need to rely solely on its own ability to create so many high end jobs by attracting so many MNCs, Johor has Singapore next door and Singapore Already has the big population of middle-income earners who are ready to come over to stay when Nusajaya(Iskandar) is more developed. In this special case, Johor just need to be 50% successful in order to be 100% successful as Singapore will support its other 50% lack. States like Terengganu will definitely not have such an advantage.
The prices of properties in the old JB city wasn't even near to Singapore's price because there wasn't any high-end properties on offer in the past and Iskandar development region hasn't started. Even if there was high-end property on offer in old JB city in the past(before announcement of Iskandar project), it is still not enough to attract Singaporeans as the city itself is quite run-down. Nusajaya(Iskandar) is different because it is a whole new beautiful city with high-end housings and Singaporeans are attracted to it. But due to the many failed Malaysian government's projects and the unreliability of the Government, many Singaporeans still prefer to stay on the sideline and adopt the wait-and-see attitude. But have no doubt that as long as the city takes shape, demand from Singaporeans will slowly increase along with the progress in development.
Of course there's a risk that Nusajaya might become another white elephant. There's a risk in every investment, nothing is risk free. You judge on the probability and decides for yourself. No risk no gain.
