JOHOR BARU: Property developer IJM Land Bhd remains optimistic about the Johor property market in view of several exciting catalysts such as the Johor Baru-Singapore Rapid Transit System (RTS Link) and the Kuala Lumpur-Singapore High Speed Rail (HSR).
The improved connectivity and weaker ringgit are likely to make it more attractive for Malaysians working in Singapore, Singaporeans and expatriates to look for properties in Johor Baru.
Its Sebana Cove general manager Roger Lee said that property investors can bank their money into the Sebana Cove development near Pengerang as rental yield is hitting up to 10 per cent - above the average 3 per cent to 4 per cent in Johor.
He said that the 485.62ha-integrated township is equipped with an 18-hole golf course, 24.28ha private marina and a Customs, Immigration and Quarantine complex through a ferry jetty.
"It is a great opportunity for investors as the average rental yield is around 3 per cent to 4 per cent in other areas around Johor Baru but in Sebana, it can go up 10 per cent.
"Our existing and upcoming resort facilities create a comprehensive township, which attracts both local and international buyers into the rapidly developing area," he told The Star when met at the StarProperty.my Fair yesterday.
Lee added that residential demands are high in the Pengerang area in view of the developing Pengerang Integrated Petroleum Complex project, which is just a stone's throw away from Sebana Cove.
He also said that the RM5bil mixed development project is slated for completion by 2030, with its current phase one of 50 bungalow units to be finished by year-end and phase two expected to be launched next year.
"We have recorded an 80 per cent take up rate for phase one, which will see the development of bungalow units with built-up area of between 3,200 sq ft and 4,400 sq ft ranging from RM1.8mil to RM2.7mil," he added.
Another IJM Land township, Austin Duta, has also been receiving good response from potential buyers with 95 per cent of its non-bumi lots taken up since its launch in the fourth quarter of last year.
Its Southern Region acting head Clement Pee said that the RM1.5bil Austin Duta is also a mixed development spanning over 101.17ha of land within the booming Tebrau Austin area.
"Our first phase of double-storey terrace homes with a standard built up area of 2,150 sq ft starting from RM715,000, which have been selling like hotcakes, is expected to be completed by December next year," he added.
Meanwhile, Nasa Land Sdn Bhd general manager Lim Hock Seng said that Johor is believed to have big growth potential in view of the recent and upcoming catalysts, including RTS, HSR, the undervalued ringgit and direct flights to China.
"Strong backing from the Government due to Johor's contribution in the region's development, infrastructure and economic landscape offers an added advantage," he said.
On its freehold integrated community, Nasa City, Lim said that the township would feature both high-rise and landed residential and commercial properties.
The joint venture project between IJM Land Bhd and JKG Land (JB) Sdn Bhd will see the development of 428 units of serviced apartments in its first phase with built-up floor space ranging from 786 sq ft to 2,002 sq ft.
IJM Land Bhd is one of the developers at the StarProperty.my Fair showcasing their latest townships and offering attractive rebates and bonuses for a wide range of residential and commercial properties in Johor.
The StarProperty.my Fair is ongoing throughout the weekend at the Johor Baru City Square shopping complex here.
Calvin comments:
I visted Starproperty Fair at Johor CitySquare yesterday. This round most property agents seem quite optimistic throughout.
At IJMLAND the Austin Duta 24x70 houses sell like hot cakes. Launched at a nice price of Rm650,000 each almost 187 units sold - only 7 units left at a slightly higher price of Rm670,000 now.
As the demand for rental houses over the limited supply in booming Pengerang the yield is over 10%. However, Kulim, Maha Builders are now rushing to build houses there to meet increasing demand. So for future investors yield might go lower.
For Bandar Uda Utama 2 storey houses first launched at Rm550,000 are now moving up to Rm680,000 for the 2nd phase.
Over at Sunway Group 2 storey link houses (24x70) are now going at a cool Rm1 million each for phase 2. For phase one these same 24x70 link houses were all sold out at Rm900,000. This shows that 3 areas in Iskandar have 24x70 link houses priced at Rm1 million each
1) Tmn Sutera/Tmn Perling area
2) Tmn Ponderosa/Tmn Molek
3) Sunway Pendas
So there is healthy pent up demand for all LANDED HOUSES IN BOOMING ISKANDAR.
The same cannot be said about high rise condos. So the best investments are still landed properties - be they new or from the secondary market.
And with the Upcoming HSR Train from KL - Nusajaya - Singapore, the best investment focus will be in the Nusajaya Region of Iskandar.
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JOHOR BARU: The Johor government is prepared to develop areas along the Kuala Lumpur-Singapore High Speed Rail (HSR) line thus paving the way for high-impact projects.
Mentri Besar Datuk Seri Mohamed Khaled Nordin said Johor has a strategic development plan which could identify the development patterns of areas such as Muar and Batu Pahat where the train would pass.
“The Johor government looks forward to this project (HSR) which the memorandum of understanding had been signed and as announced the project is expected to be completed after 2026.
“With the HSR project coming up it has made it possible for us to realise the vision of the strategic development plan,” he told reporters after opening a state-level haj preparation seminar here Friday.
The HSR project, targeted to begin operations in 2026, will have eight stations namely, Bandar Malaysia, Putrajaya, Seremban, Ayer Keroh, Muar, Batu Pahat, Iskandar Puteri and Singapore.
With the 350km track, travel time between Kuala Lumpur and Singapore will be reduced to 90 minutes with the bullet train running at speeds of over 300kph. - Bernama
And more news
Rail link to Iskandar gets thumbs up from Singaporeans
This week's announcement that the Singapore-Kuala Lumpur high-speed rail project will include a regular service between Iskandar Puteri and the Singapore terminus in Jurong East brought big smiles to Singaporeans who live in or own homes in Johor.
It will cut their journey across the border to a fraction of the time it now takes to cross the Second Link, a ride that can stretch up to three hours during peak periods.
Mr Thusitha de Silva, 53, director of analytics firm Cerulli Associates, said traffic jams along the Second Link have become frequent in recent years, especially after toll fees were lowered in 2010, and similar fees for the Causeway were raised in 2014.
"Both links now have the same congestion problem, especially during rush hours," said the avid golfer who built a semi-detached weekend home in Iskandar, previously known as Nusajaya, in 2007 to be near a 36-hole golf course.
"If there is a park-and-ride option, on some days, I'd rather do that than have my thumbs on the wheel for hours in a jam," he said.
Another advantage of the shuttle to Iskandar Puteri: Commuters can clear immigration checks for both countries when they board the train as Customs facilities will be co-located.
Observers told The Straits Times that a speedy and seamless ride could see more Singaporeans consider living or retiring in Johor, where the cost of living is lower.
Dr Norshahril Saat of the Iseas-Yusof Ishak Institute feels the enhanced transport link "will encourage Singaporeans to buy houses or move to Johor".
He added that towns along the rail link could also develop retirement communities targeted at Singaporeans, but the Johor government has to address issues like the perception that Johor is less safe.
Johor will also have to address its locals' concerns over the rising cost of living and property prices as the state develops, he noted.
Meanwhile, the rail link could see commuters give up their cars, added retired financial analyst Jatin Doktor, 54, who sold his Singapore home and moved to Iskandar Puteri with his wife in 2013.
He currently owns both a Singapore- and a Malaysia-registered car, as Singaporeans and permanent residents cannot drive Malaysia-registered vehicles into Singapore. Mr Doktor said he will likely give up his Singapore car when trains start running around 2026.
"We come back to Singapore two to four times a month to catch up with friends and go for concerts," he said. "With the rail link, the last mile won't really be an issue if there's ample parking at the rail terminus."
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