I asked an exec in a small S'pore property firm what he though about Iskandar. He replied that things tend to be slower in Malaysia, but Iskandar is different from other JB properties because of the massive investment from Khazanah, overseas investors (SG included). Interestingly I asked around friends including a few Malaysians -- none of them would consider investing in Iskandar, and thought it was crazy to own a property there. Perhaps many are hung up by CLOB and other bad experiences they heard about Malaysian property. Of course there is massive capital appreciation elsewhere, esp KL-- One of my friends bought an apt in Desa Parkcity, and it has appreciated about 100% in the last 3 years.
I stumbled on this thread while searching for information on Iskandar, and the posts here are quite encouraging. It makes sense that Nusajaya will be relatively successfully regardless of how the rest of Iskandar does, due to the sheer number of projects and attractions in Nusajaya. It will take time, but it does look like Iskandar will take off. Will prices double in 5years? I don't know, but there is a higher chance of that happening here, than in S'pore.
P.S. I'm keen to buy a terrace house in Nusajaya but it seems all are sold out some time back. Where else should I look?
Yes many people are still emotionally affected by CLOB, my parents do have friends who have lost a lot of their savings at that time. I think it will really take a while before people change their perception. Why World War 2 only happened a few decades ago, but nowadays this generation of Singaporeans don't see the hardship their grandparents have gone through and are crazy over the J culture.