According to research data, property buyers have been flocking to Iskander to buy landed homes since 2006. However, more buyers are now looking for condominiums and high rise apartments instead of traditional landed homes.
Iskandar Properties on the rise
The recent ramp up and interest in condominiums has resulted in a steep rise in recent new launches in Iskandar. For example, the new launch Afiniti Residences in Medini in Iskandar’s Nusajaya zone, was launched last week with prices ranging from RM850psf to RM1,000psf. Comparatively, Medini, the first high rise project launched in January last year, was sold at an average of RM450psf.
Also, Puteri Harbour, a new launch in Iskandar as well, was sold at an average of RM800psf. Research data has shown that the prices of new launches are almost triple of old condo projects which were launched a few years ago and have since obtained keys and ready to be rented out for investment income. Analyst pointed out that comparatively, a ready condo with a lower price will definitely be more worthwhile for investment rather than a more expensive new launch.
Iskankar Properties getting more popular among Singaporeans
Research data have also shown that developers have been ramping up condos lately to take advantage of the demand from Singapore. Demand from Singapore has been exceptionally high in the recent years due to the persistant high property prices coupled with stamp duties on multiple property owners. Comparatively, there were only 8000 units that were launched for sale in Iskandar from 2006 to last year. Over the next 304 years, analyst see 13,500 condo units to be completed.
A recent note that not only Singaporeans are interested in Iskandar properties. A Japanese investment fund bought an entire tower of 285 units at Iskandar Residences.
Riverbank at Fernvale Close is a new condo in Singapore and might bring buyer interest back to Singapore considering that the psf will be lower comparatively to other condos.