Iskandar property is hot commodity for investors: Poll

PHOTO: Iskandar property is hot commodity for investors: Poll

Iskandar Malaysia remains very popular among property investors, going by a survey held at an STProperty showcase on foreign property.

The majority of respondents surveyed at the recent event, held to showcase Malaysian residential property, were keen on buying a new property in the popular economic corridor.

A total of 80 per cent of the participants cited reasons such as better discounts offered by developers, better security and newer designs for wishing to buy a slice of Iskandar.

Those preferring resale units said they wanted the option of moving in immediately.

Others said buying a resale property eliminates the possibility of building delays or even developers abandoning the project.

Respondents also said that they were willing to fork out up to RM1 million (S$390,000) for a property in Iskandar, while most were comfortable with units in the range of RM500,000 to RM750,000.

In Malaysia, foreigners can buy only units that are priced above RM500,000.

When asked which projects they were most interested in, the majority pointed to Mah Sing's Meridin Suites and Medini Signature by One Medini, citing the developers' reputations for their choice. The upmarket Horizon Hills was also the next development popular with respondents.

However, some also had their concerns about buying a property in Malaysia, with political instability at the top of the list of concerns.

The uncertainty over the development's completion came in next, while Malaysia's ambiguous policies were the third biggest worry.

After Iskandar, Klang Valley came in second as the next favoured destination, followed by Penang.

STProperty will be holding a seminar on Oct 27 at the Raffles City Convention Centre on the current trends and policies in the property market.

STProperty members or property agents are entitled to an early-bird discount of $15, while non-members may register for $20.

Prices are valid until next Thursday.

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