More setting up home across the border

More setting up home across the border

SINGAPORE - For a long time, Iskandar was considered as little more than a backwater.

Today, though, most people would know of someone who is a proud owner of a property there.

But the growing excitement over Iskandar has come at a price.

Not so long ago, a buyer could get a two-storey terrace house there for the price of a three-room HDB flat.

This is no longer possible as property prices there have doubled, or even tripled, over the past six years.

At the upmarket Horizon Hills, where houses overlook an 18-hole golf course, a two-storey terrace house cost RM300,000 in 2007. Now it costs RM750,000 (S$309,000) on the resale market.

Of course, this is not an issue for many buyers who had purchased units in Iskandar earlier.

A Singapore resident in her 40s, who wants to be known only as Ms Nesamalar, bought a semi-detached house in Bukit Indah township last July.

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