This is what i feared most. Everyone is rushing into Iskandar to build something just to sell and capitalizing on our greed (Singaporean's greed). A caption like 'Grow your Wealth' seems to be clear enough the motivation of the developer. There just need to be enough demand for such developments. Who will buy condos in JB? Only the expats or Singaporeans. Malaysian still preferred landed. So i ask myself the following questions:
Is there limited supply of land in JB? No
Is there a huge population explosion in JB? No
Is there an economic boom in JB like in China for manufacturing? No
Is there a big high end expat community in JB like in Singapore including bankers, traders? Definitely NO.
Who can you re-sell to? either Singapore or Expats mainly.
Well, i think moderate growth is good for all but unrealistic or overhyped expectations often resulted in bubble. A real boom needs to be built on some kind of strong economic foundation and not something artificial or made out to be. So far i do not hear of great demand but mainly of initiatives pushed out by governments of both sides as well as developers. Everyone is rushing in to build some kind of condos, including many developers new to Malaysia. That's what happened to Ireland where many estates have become ghost town. It is starting to look like bubble to me and it is starting to look worrying.
Is there limited supply of land in JB? No
Is there a huge population explosion in JB? No
Is there an economic boom in JB like in China for manufacturing? No
Is there a big high end expat community in JB like in Singapore including bankers, traders? Definitely NO.
Who can you re-sell to? either Singapore or Expats mainly.
Well, i think moderate growth is good for all but unrealistic or overhyped expectations often resulted in bubble. A real boom needs to be built on some kind of strong economic foundation and not something artificial or made out to be. So far i do not hear of great demand but mainly of initiatives pushed out by governments of both sides as well as developers. Everyone is rushing in to build some kind of condos, including many developers new to Malaysia. That's what happened to Ireland where many estates have become ghost town. It is starting to look like bubble to me and it is starting to look worrying.
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