Johor Property News: Impact from RTS to Singaporeans buying into Johor
Johor is right next to Singapore, always remember this fact
This is one recent news. Most recent news on why Johor is the state to watch out for in 2024. If Singapore will be attracting more investments, it will need talents. These talents cannot all be based inside Singapore yeah. Go google and understand the cost of office space in Singapore and to get some idea. Here’s one article if you like to read more. Article in businesstimes.com.sg As for where could they get best talents, let’s also be very logical yeah. Whether it’s language, culture or even distance, Johor is Singapore’s best partner.
Article in malaymail.com Singaporeans are snapping up Johor real estate even though the Rapid Transit System (RTS) link between the island republic and Malaysia is yet to be completed after their government made it more expensive to own more than one property by increasing the additional buyer’s stamp duty, The Straits Times reported today.
Singaporeans made up 40 per cent of buyers for the Princess Cove condominium in Johor Baru after the republic increased the additional buyer’s stamp duty last April, the Singapore daily reported, citing deputy general manager of the China-based property developer R&F, Xu Jie.
“Property prices will only get higher the closer it gets to the completion of the RTS,” he was quoted as saying.
According to Straits Times, sales of property in Johor, especially between April and September, was five times more than in the same period last year. Article in malaymail.com
Connectivity will be the main catalyst, not prices in Singapore (which is already much higher actually)
Without connectivity, nothing happens. When one needs to travel 3-4 hours daily just to get to work in Singapore and back to home in JB, then nothing happens. Many are already staying in Singapore and are willing to pay S$800 for the smallest room so that they do not need to travel daily as it may be too stressful. Now imagine if it takes nothing more than just 20 minutes to reach office in SG when they travel from JB in the morning. No prizes for understanding where I come from yeah.
Will the rental for the smallest room in Singapore be lower then? It’s super hard to say but if all goes well for the RTS, then anything could happen yeah. My best friend used to do daily travel just so that he could save more money by working in Singapore and staying in JB. he told me that he did not see the sun for many years! Happy waiting and I hope the RTS will be completed on time if not earlier than schedule.
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