AS PROPERTY prices in Singapore hit their peak, more investors from the Republic are venturing into overseas property, with Kuala Lumpur (KL) as one of their favourite destinations.
However, Khalil Adis, a property expert and regular contributor to HomeGuru, believes there is a limit on how much capital appreciation properties in KL can achieve as the property market has become too saturated." He noted that the next frontier in property investment is Iskandar Malaysia.
Although still a relatively new and untested market, Khalil said, "Iskandar Malaysia will rival Kuala Lumpur and set the benchmark for real estate in Malaysia.’ Many property developers are now acquiring land parcels in Iskandar Malaysia for development and more property launches are also in the pipeline, including the launch of iMedini Residences in Medini North this year and the completion of the new Coastal Highway.
Newcastle University Medicine Malaysia in EduCity has already opened its doors and three more developments Netherlands Maritime Institute of Technology, the International Student Village and a stadium and sports complex are set to open this year.
Next year, Legoland Malaysia will be officially launched, where a MRT (Mass Rapid Transit) station has already been planned next to it, said Khalil.
In addition, the Singapore and Malaysian governments have signed a deal to improve connectivity between Singapore and Iskandar Malaysia, which will boost investors’ confidence.
Come 2018, this region will be buzzing once the planned Rapid Transit System (RTS) between Singapore and Johor Baru, served by a single co-located CIQ (Customs, Immigration and Quarantine) facility, is completed." Recently, Singapore’s Land Transport Authority announced the extension of the country’s East-West MRT line to Tuas, as well as the plan to build a station in Woodlands that will integrate the upcoming Thomson Line with the proposed RTS link between Singapore and Johor Baru.
"This will increase accessibility across the Johor-Singapore Causeway between Tuas, Woodlands and Johor Baru," Khalil said.
With tourism and education as among the key drivers of the region’s economy, the Malaysian government has this time shown a lot more follow through to ensure the success of Iskandar Malaysia.