The $100 Billion City Next to Singapore Has a Big China Problem

If you are considering buying properties as investments in Iskandar, Johor, do be careful as there were just too much supply, therefore no resale market. Similarly, no tenants because of insufficient employment in the offices and factories.

A model of the Forest City development at the Country Garden showroom in Johor, Malaysia.

PHOTOGRAPHER: ORE HUIYING/BLOOMBERG

This report from Bloomberg say it all. Click here to read the report.

Although Singapore government implemented property cooling measures in February year 2010, properties here is still best buy as it is regulated and controlled. The only problem you face will be your loan. Can you hold the property for 3 years? If yes, no issue as you can sell off after 3 years without any extra tax ( SSD=Seller Stamp Duty ). See chart below.

New private home sales fall for 2nd month

As seen from The Straits Times, 16 June 2017:

New private home sales fall for 2nd month

Developers sold 1,024 homes (Excluding ECs) in May 2017, a fall of 34 per cent from 1,558 units in April. Developers only released 339 condo units in May, compared to 1,616 in April. However, buying sentiments has been positive with new sales exceeding 1,000 units for three consecutive months. Home buyers who have been sitting on the fence seemed to be getting back in the market.

CEO, PropNex Realty Mr Ismail Gafoor highlighted, “More consumers will come to a realisation that the market has bottomed out and prices are likely to inch upwards with strong land-bid prices we are witnessing.” He expects the number of new home sales transaction (Excl ECs to cross the 10,000 mark by end of 2017.

For more, read our press release at https://www.propnex.com/pressrelease/319

http://www.businesstimes.com.sg/real-estate/upbeat-mood-holds-sway-despite-drop-in-developer-sales-in-may

Former HUDC estate Eunosville sold for S$765 million in en-bloc deal

Privatised HUDC estate Eunosville, near the Eunos MRT Station, has been sold for S$765 million to MCL Land in what is the fourth en-bloc deal here this year.

Based on the sale price, it is the second-largest former HUDC estate to be sold collectively after Farrer Court, which was transacted at a record S$1.34 billion in 2007 to CapitaLand.

The price was much higher than the S$643 million to S$653 million the owners had asked for when the site was launched for tender in April.

The deal came on the heels of last week's sale of Rio Casa estate in Hougang and mixed-use development Goh & Goh Building in Upper Bukit Timah Road, and One Tree Hill Gardens in the prime District 10 last month.

Marketing agent OrangeTee said the sale price for Eunosville, with the addition of an estimated differential premium of $194 million, works out to a land cost of S$909 per square foot per plot ratio (psf ppr).

The differential premium is payable to the State to enhance the intensity of the site to a gross plot ratio of 2.8 as well as to top up the remaining lease term to 99 years.

The 330-unit Eunosville comprises 255 maisonettes over six residential blocks and four walk-up apartment blocks with 75 units.

Each owner stands to receive a gross sale price of S$2.25 million to S$2.41 million upon the successful completion of the sale, OrangeTee added.

Source From Here