yonglip,
if you look at the centre stage of Iskandar development, it is in Medini area because the will be businesses such as:
- Creative Park
- Logistic village
- Medini Business district
- Educity
- legoland
- Pinewood Studio
- Hospitals
- Hotels
- shortest drive from Tuas
- Harbour (puteri harbour)
If these dream projects really materiazlie you are buying a piece of stake in a future Raffles Place and it is cheap despite premium by current standard.
You can actually compare the prices of residential dev. The one closer to Medini is more expensive. This is the sequence according to the highest psf rate.
1) Puteri Harbour/Imperia
2) East Ledang/Ledang heights area/Impiana
3) Horizon Hills
4) Nusa Idaman
4) Nusa Bayu/Setia Homes
As some have pointed out (which I've learned) Location and location.
- You buy in JB but which location?
- you buy in Nusajaya but which location?
- you buy in Medini but which location?
If I could afford it and I still believe all projects will come true. I would buy East Ledang or Puteri Harbour.
Only Singaporean loves landed so much. There is nothing special about having landed. In fact if you have experienced living in landed property like most of Malaysians they may not find it special because:
- You've got to maintain your own walls
- some left it unmaintained and spoil the surrounding
- It is damned hot during the hot season if the construction is not proper (you'll be grilled in 2nd floor like roasted pork. And if your house facing hot sun you feel like living in hell).
- There is usually very little air circulation as compared to high rise. To me it is not comfortable at all unless you have a large bungalow.
If above projects really become reality. RM3000 for 3 bedroom beds are very cheap.
I've known many Indonesian students. Each of them rent 1 room condo in SG over $1200 which is equal to RM2500/bedroom.
So for RM3000 for 3 bedrooms or RM1000/room. it is super cheap for those overseas students.
And then there will be short of supply in Medini area because of those staffs working around the area. There are only a few hundred homes in East ledang/ledang heights.
Unless they construct more condos it won't be enough.
By the way if one convert to Malaysian or Indonesian with RM500k he can buy land enough for >100 terrace houses.
Just imagine how much UEM is making. From a jungle converted to such premium housing.
A few months back when I met Mr. Chew from Raffles Education in one of his briefing to analyst/investors.
He told us about the company and in fact this RE own so much land in China and Iskandar.
For Iskandar he is given free land.
Isn't that amazing?
This land is means little if all these projects never come true. Never believe one can get back the money if these projects fail.
Went to see Impiana at East Ledang today..
2 bedders selling at around RM600K..felt claustrophobic with the narrow hallways..based on this price, dont see much upside in the near future even with Educity/Medini etc..
if can rent for RM2500 per month...nett off RM400 (quite high) for maintenance and another RM200 for misc expenses...end up with just RM1900 per month or 3.8% pa returns...when compared to SG deposit rates, its good but realised that M'sia banks are already giving about 3.3 to 3.65% p.a for FD.....
i think maybe better to just put in M'sia FD and save all the hassle...
