I've decided to pull out of my JB property hunt as I feel it is being priced at premium.
- Nusajaya location isn't yet mature and the land is 3x of singapore.
- The rental market is poor and with the flood of Singaporean money into Nusajaya or surrounding, this create the surge in supply. This will give further poor rental yield.
- I was talking to developer and for the property around RM700k + RM100k reno + fitting = her monthly estimated rental is only RM2k to max RM2.5k.
If I buy this Nusajaya property it only means I'm subsidizing others to stay.
- Whenever only foreigners are buying. The property is deemed to be premium. Look at who are buying in Nusajaya? 90% foreigners.
- With equal price/psf I can get a better appartment at the heart of KL,
If you look at Singapore market, the yield could be worse if you buy now.
For a condo I'm familiar near Simei MRT, 2BR unit may be rented out for say $3-3.5k and it cost around $900k.
Prices keep increasing if not for recent government policy. In fact nov stats out already and I think price index did not drop.
But agree with you that the hot zone in Iskandar are really premium priced now.
But if I'm forced to invest, I'll still buy in JB than KL than Singapore.