Each RM600K house sold for RM2.5mil? My HDB flat after more than 10 years also did not double in price!
You brought up an interesting point for me to follow up.
Many mentioned Yes, I have friends/relatives who made it or became richer from their Iskandar properties. But just ask them: When was that? Very likely, most would have said they had bought their homes back in the very early days of 2007-2010.
But we have to use recent figures to analyze the situation. Prices in Iskandar are no longer like those 8-10 years ago. Today, even a small 900 sq ft condo already can cost like RM700+k. Ask your Malaysian friends. This is considered damn bloody expensive for their commoners. Of course to SGporeans, it's small sum cos of the exchange rate and the crazy prices here. It's all relative.
How much does one expect to make say in 5-10 years' time, given today's Iskandar pricing and in an environment of huge oversupply. That's the big question. I won't be surprised if it's negative returns even after 10 years for Iskandar condos.
As for HDB flats, Frodo... go ask your daddy and mommy. A nice 98-100 sq ft 4 room HDB flat bought in the early 80's only cost $20-30k. That same flat could now cost S$500,000! So where got don't make money?
The case of why you hardly made from your flat is not much different from the present Iskandar condos. If you had bought an Iskandar property before 2010, you would be smiling if you sold it now. If you bought it like in 2012 onwards, think how much it can go even after 10 years. Mind you, Iskandar is not like Singapore with strong government, proper planning, and a huge demand. So you got to factor in a lot more downside to it.
Similarly, those who bought their HDB flats in the 80s, if they sold their flat now, they'd be making super duper profits too. But if you bought your flat say in 2013, you try to sell it in 5 years' time, do you think you can garner a greater % of profit than those who had bought it decades ago? No way.