Landed properties and well-planned business parks in Iskandar Malaysia proved popular among Singaporeans looking to set up businesses in Johor, reported The Star.
“They are looking for business parks that are near the highways and townships because setting up shop here is only about one-third of the cost of operating in Singapore,” said Johor Real Estate and Housing Developers Association (Rehda) branch chairman Hoe Mee Ling following the official launch of the second edition of this year’s Malaysia Property Expo (Mapex).
Notably, geographical location, growing workforce, continuing investments and improvement of infrastructure helped to boost demand for said properties.
“Property sales depend largely on the external factors like quality, concept and good after-sales service,” she said.
“Customers take these things into account before considering their investment decisions.”
Another factor that helped boost demand was the presence of job opportunities in Iskandar Malaysia, said Hoe.
Despite the overall slow economy, she revealed that they observed a “positive property sales trend as the fundamental demand for properties is still there.”
While the present political and economic climate may have some short-term effect on Iskandar Malaysia’s progress, this will be mitigated by the various inherent advantages of the economic region.
In fact, Johor Baru, particularly Iskandar Malaysia, did not witness a gaping decline in property sales trend, she said.
Held at the City Square shopping mall, the three-day expo saw a total of 35 developers and exhibitors offer 19,000 properties with a total value of RM18.6 billion situated in and around Iskandar Malaysia.