Property prices in Iskandar to surge in next 10 years

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Iskandar is expected to become the newest investment haven in Malaysia, especially its real estate sector, according to many experts interviewed by the New Straits Times.

It is forecasted to emerge as one of the world’s most prosperous regions in the next 10 years after it was left behind by property booms in Penang, Kuala Lumpur Hong Kong and China over the past years.

In the next 10 years, sceptical people would regret not investing there earlier, said Ishmael Ho, Chief Executive of Ho Chin Soon Research. This is because prices of residential and commercial properties in Iskandar’s Flagship A and B zones are expected to rise significantly over the said period.

Notably, Flagship A, B and C zones are situated on the west side of the region.

Moreover, property prices there could surpass those in Greater Kuala Lumpur by two-fold during the second half of Iskandar’s 20-year master plan, shared Ahyat Ishak, author of the best-selling book entitled ‘The Strategic Property Investor’.

He attributed this potentially significant price hike to the upcoming Kuala Lumpur-Singapore high-speed rail (HSR) and Johor Baru-Singapore Rapid Transit System (RTS).

Asked about new property hotspots in Iskandar, he said: “We believe the next growth area is Pasir Gudang, which used to be the eastern-most fringed.”

According to Eco World Development’s CEO and President Chang Khim Wah, Iskandar’s eastern side is strategically located near several ports like Johor Port in Pasir Gudang and Port of Tanjung Pelepas.

“With continuous enhancements on connectivity and accessibility like the completion of the Eastern Coastal Highway, Senai Desaru Expressway and the ongoing upgrading works on the Pasir Gudang Highway, the east side remains appealing to many businesses,” he added.

Meanwhile, Iskandar Regional Development Authority’s (IRDA) Chief Executive Officer Datuk Ismail Ibrahim revealed that Iskandar has received RM202.45 billion in total investments from 2006 to March 2016. Of this, 51 percent or RM103.50 billion has been realised

Local investors accounted for 60 percent or RM121.44 billion while overseas investors contributed RM81.01 billion or 40 percent of the overall figure.

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