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Iskandar Malaysia's progress so far

sgcount

Alfrescian
Loyal
Sounds like those in Johor are experiencing what commoners in Singapore are going through. Their cost of living has gone up but many don't feel they are enjoying the benefits of Iskandar. More for the rich and foreigners, they think.

https://sg.news.yahoo.com/8-years-does-iskandar-malaysia-really-benefit-225926135.html

But the comments about buying properties in Iskandar by some posters sound negative. This is one eg:

[the one who DOES NOT benefit the most is...... Singapore. Those who buy property in Iskandar..... good luck to you because frankly, you are going to need it real soon.

Excess supply.
Sub standard building quality.
No tenants.
No buyers (of your property) - only got buyers of new properties due to excess supply.
No proper roads/infrastructure.
Unpredictable laws.
Unpredictable police enforcement of laws.
Unpredictable government & royal family.
Generally much lower standard of living and safety.
Problems getting back money.
Problems getting back home to Singapore (expensive too!).....]

Any thoughts?
 

PuteriWorld

Alfrescian
Loyal
Seriously I have been around in Johor for 10+ years and I feel so much happier in Johor. First 5 years I entered my car and locked it the first second thinking someone would rob me. After 5 years I realise no one had tried to open up my door yet. Its in the mind of 99% of all Sporeans and Johorians all thanks to the wonderful Singapore media that have portrayed Malaysia to be a place where "Every Singaporeans who drive in will get clobbered"

Its like a Visit Malaysia Year Slogan from our friendly Singapore last-ranked media. The fact is this. Your daughters stand a higher chance of being molested or robbed in Singapore HDBs void decks or MRTs than you getting robbed in Malaysia I am speaking from the point of view of a half Sporean half Malaysian who is fortunate enough to owe houses in both sides of the causeway.


My houses are substandard but it takes RM 5000 to replace a high-end product if I wanted. Singapore houses are not sub-standard? *Roll Eye*

I rented out all my houses within 6 months and realise I had no home to return to and I regretted. I have no intention of selling anymore as the place is getting exciting. Reminds me of Singapore boom in the 1980s but 10 times more exciting.

I am supremely contented with the roads around Coastal Highway and Medini/Sunway. Last week I did a 200km/hour from main road into Sunway Iskandar showroom without a single car in front of me. One word - Shiok. 3 nights ago I was cruising leisurely @ 3am along Coastal Highway when a Landcruiser and Porsche Panamera Turbo roared past me at 200km/hour at least with the latter closing tailgating the giant SUV. Fellow Singapore cars enjoying their rides and testing their V8s. This highway is probably the closest you can do. Try that in LCK and your liscence will be suspended. I am speaking from my first hand account of wandering around Johor in the middle of the night in both my Malaysia and Spore plated car.

Police are much better than Spore Pap Force now. I must admit back in 2004 Malaysia polis are scum. Now in 2014, the Spore PAP force are the Scums and their jobs are to "advise both parties not to breach the peace" and go to Sub-Cock to lodge Magistrate complaint.

My standard of living, sorry to all those who stay in HDBs, is much much much much much higher. Every morning I wake up to chirping of birds and I see many snails invading my mini-garden. I wash my cars in my car pouch using water FREELY. I mean, shit its almost FREE! When I grew up in HDBs, my mum used to admonish me for bathing more than 5 minutes cos WATER is EXPENSIVE! Now I bath for 30 minutes, Sometimes till my water tank is empty. My water tank is HUGE and about 10 times the size of my condo tank in Singapore.

I have no problem getting back money and what money are you talking about anyway ?

I have no problem getting back to Singapore. What problems do you face? I see congestions even after the high tolls are implemented. For a while I was happy that toll was increased but it seems Malaysia is far damn more attractive than Singapore that people are willing to pay killer tolls to flood into Malaysia

And at 20% of the price of Singapore houses, I am getting real bargains.

I must say Good Luck to those who hold Singapore properties because the entire waterfront area between Marina South to Tuas Mega Port are gota be transformed into Seafronting Homes. How many units? Easily half a million if the govt wants to build. Marina South distance to Tuas is about 25km coastline.. PH only 500m-1000m.. Sunway maybe 1km..

Oversupply in Iskandar or Singapore?

The HSR is going to kill Singapore off anyway
 

eric3417

Alfrescian
Loyal
LOL… Both are valid points & facts depending which side you're looking.
1 man's meat is another's poison. Glass half empty of full???

For me i kinda wish Iskandar development improves slowly.
So that it won't get too expensive for me.

Peace

:biggrin:
 

PuteriWorld

Alfrescian
Loyal
Strange tat there are Sporeans who are still complaining despite buying landed houses for S$400,000 when the freehold is S$2. X million in Singapore. These type of people you charge them 20% of the price of Singapore and they save S$2 million and they can gripe about $10 toll per trip. Donno whether to cry or laugh at them
 

Niucomer

Alfrescian
Loyal
Sounds like those in Johor are experiencing what commoners in Singapore are going through. Their cost of living has gone up but many don't feel they are enjoying the benefits of Iskandar. More for the rich and foreigners, they think.

https://sg.news.yahoo.com/8-years-does-iskandar-malaysia-really-benefit-225926135.html

But the comments about buying properties in Iskandar by some posters sound negative. This is one eg:

[the one who DOES NOT benefit the most is...... Singapore. Those who buy property in Iskandar..... good luck to you because frankly, you are going to need it real soon.

Excess supply.
Sub standard building quality.
No tenants.
No buyers (of your property) - only got buyers of new properties due to excess supply.
No proper roads/infrastructure.
Unpredictable laws.
Unpredictable police enforcement of laws.
Unpredictable government & royal family.
Generally much lower standard of living and safety.
Problems getting back money.
Problems getting back home to Singapore (expensive too!).....]

Any thoughts?

Excess supply.
some years supply > demand, some years demand > supply, natural market cycles, buy when blood in the streets, sell when irrational exuberance

Sub standard building quality.
when budgeting for property purchase, add 20% to renovation budget and all will be well, still cheaper than singapore

No tenants.
location, location, location (me got no problem so far with all those we have)

No buyers (of your property) - only got buyers of new properties due to excess supply.
location, location, location (me also got no problem even recently)

No proper roads/infrastructure.
no need to say too much, just compare raods at nusajaya, kota iskandar, coastal highway, gelang patah, danga, kempas 5 years ago and now. Singapore roads are like perpetual construction sites, constantly being dug up and filled back 没完没了(translated 'no end to it')

Unpredictable laws.
cpf withdrawal rules, hdb rules, loan capping rules, buyers stamp duty, seller stamp duty, property tax rate .... drop of a hat, say today, start tomorrow

Unpredictable police enforcement of laws.
cannot comment becos so far in Iskandar zone never get trafik summons, parking summons, littering summons, jaywalking summons, smoking summons, fire crackers summons, touch wood

Unpredictable government & royal family.
see above on unpredictable laws


Generally much lower standard of living and safety.
is the standard of living considered lower becos jb has lower utilities costs, less noise, cheaper cars, cheaper petrol, slower pace, more space, faster speed limits for roads, cheaper booze, cheaper massages, cheaper facials, cheaper groceries and not to forget better food ... or is it considered low becos there are more kampongs to visit on weekends for cheap kampung food, more waterfalls to go, more bukits to trek, more fruit and vege farms to go ...

Problems getting back money.
why so?

Problems getting back home to Singapore (expensive too!)
have remitted RM5mil before to Sg through official banking system, no problem leh


Iskandar is like any other investment tool or product, the savvy will be rewarded :wink:
 

Zelphon

Alfrescian
Loyal
A good read so far..

I bought R&F Princess Cove..
Not quite sure is it a good buy or not..

But it offers me an exit strategy from SG..

I am 34 now..
In the event that I get retrenched at 40s, I will rent out my HDB flat and move to JB...
Hopefully the rental will cover my living cost in JB..

Also, the asset is freehold and so I can pass it on to my children..

Only time will tell whether I made a correct decision now..
In fact, my wife is against my purchase and my way of thinking... LOL..

Nonetheless, it is not optimism that drives me to Iskandar..
It is desperation for an exit strategy with the way, Singapore is going now..

I truly fear for my future in SG..
 

FHBH12

Alfrescian
Loyal
Properties around RTS will be good. But dun need to be too pessimistic abt ur future in SG. Just work hard to keep ur job n stay healthy to enjoy ur retirement.
 

Niucomer

Alfrescian
Loyal
In the event that I get retrenched at 40s, I will rent out my HDB flat and move to JB...
Hopefully the rental will cover my living cost in JB..

If JB house fully paid for and you get $2800 from your flat
RM7000 is quite a decent amount for a small family's monthly expenses
.. can't have too many massages though
:biggrin:


Also, the asset is freehold and so I can pass it on to my children..

You are one up better than the 82% of the population
staying in HDB housing who paid advance rental of 99 years
with no residual cash value at the end of the lease
:cool:
 

sgcount

Alfrescian
Loyal
Thank you all for the very insightful sharing with some strong points I have never considered before.

I guess there is always noise on the internet, especially from those who do not take action themselves.

I agree with Zelphon about the uncertain future of SG. This probably applies to the present younger generation with low income or lower end of the middle class. It's so much tougher now than say 20-30 years ago to make plans on retirement, depending on the type of job you take on. I have a handful of young graduates at my workplace who can't even foresee themselves owning beyond a tiny 4-room HDB for the rest of their lives. The cost of living here has gone up too high and too fast. It does not give them any advantage even though they hold degrees from good local unis.

But hey....I noticed some of you here have made it good, owning a few properties and even have more than a million $ in cash. Do you mind sharing a little your success stories for motivation? I think many will appreciate it! :smile:
 

eric3417

Alfrescian
Loyal
I would also like to point out that those generation Y and onwards young people besides struggling to pay off their HDB flat,
will probably never get to meet their CPF minimum sum based on historic inflation adjustments since 2003 80k to now 155k.
Believe next year would be 16xk. These youngster turn 55 in say 30yrs later MS would be easily 300K to 400K. Maybe even 500K.
Monthly handout could even start from 70 from current 62/65. Dunno how many would have been dead by then.
And judging from current Trend of little to not having children. Those $ go where?

:*:
 

FHBH12

Alfrescian
Loyal
I would also like to point out that those generation Y and onwards young people besides struggling to pay off their HDB flat,
will probably never get to meet their CPF minimum sum based on historic inflation adjustments since 2003 80k to now 155k.
Believe next year would be 16xk. These youngster turn 55 in say 30yrs later MS would be easily 300K to 400K. Maybe even 500K.
Monthly handout could even start from 70 from current 62/65. Dunno how many would have been dead by then.
And judging from current Trend of little to not having children. Those $ go where?

:*:

After checking through the details, I find CPF a fine scheme for the entire population. Your money is there and they are yours.

You cannot get similar returns/security net from private insurances based on low risk exposure (I have recently asked for several insurance quotations).

No scheme is perfect. I'm worried that populist policies to allow early withdrawal could cause depletion in some people's CPF account. Tax payers like us will have to bear the cost of supporting these people who mis-manage their retirement fund. I wouldn't want to help those who take the CPF money to gamble and lost, or give to their China mistress, then complain that the government (i.e. tax payers) should look after their old age.

My recommendation is to plan for your retirement without factoring in CPF. Take it as a safety net for your old age.
 

Manhattan

Alfrescian
Loyal
If you are a middle aged staying in hdb thinking about upgrading to private or Ec, should think if it is worth it. A 4 room hdb is worth about 400k sgd, to get a equivalent size Ec in woodlands is about 900k, so the top up is 500k to move to a similar apartment. For private the top up is 800k. After you retire, you found that nothing much left in your cpf after paying the mortage and you only have a old condo to retire in. You can only hope that the market is still good and you can right size at a good price, but nobody can predict the future.
If you decided to buy a similar size condo in iskandar instead, it costs only about 300k sgd. You pay less and Now you have 2 apartments, one for own stay and the other for rental/holiday. And because your hdb was bought cheap and is almost paid up, your cpf is left untouched to accumulate for the remaining years of your working life, which can be quite a substantial amount when you retire.
 

sgcount

Alfrescian
Loyal
I would also like to point out that those generation Y and onwards young people besides struggling to pay off their HDB flat,
will probably never get to meet their CPF minimum sum based on historic inflation adjustments since 2003 80k to now 155k.
Believe next year would be 16xk. These youngster turn 55 in say 30yrs later MS would be easily 300K to 400K. Maybe even 500K.
Monthly handout could even start from 70 from current 62/65. Dunno how many would have been dead by then.
And judging from current Trend of little to not having children. Those $ go where?

:*:


Yes, indeed.

Those young graduates at my workplace shared with me they are trying to simply work hard day by day as salaried workers. But ask them further about their plans for the future, many are clueless, mainly because they realize the cost of living here is way too high that their childhood aspirations to lead the "good life" (think mid-sized condo and a family car) in Singapore have to be thrown out.

Many of these grads I encountered did quite well in school, especially in Science and Maths, some even went to the top 5 JCs in Singapore. But unfortunately, they continued to study subjects in unis that won't make them money. I have even heard of new law grads these days being unhappy because they had to take a huge pay cut (not to mention the crazy long hours they are made to work). Everything here is now about how to make the most profits by cutting costs.

I thought the purpose of HDB and CPF were brilliant concepts. But only in the past. Along the way, especially in the last 10 years or so, the SG government seem to drastically change the way SG is being run such that many are wondering if the fundamental purposes of HDB and CPF are lost. The concept of building many HDB flats was to cater to the masses, less wealthy citizens for affordable housing. For CPF, it's to ensure everyone can retire well. But they no longer hold true for many.

I personally feel the mismanagement (can't find a better word!) of HDB flats by the government is unfortunate. For eg, for many years not too long ago, they did not build enough BTO flats even though they were expanding the population exponentially. Till today, I still don't know why this happened. There could be ulterior motives involved. They even once tried to make more money with the private developers by getting them to build HDB flats and pricing them close to $900,000! Puzzling move indeed. Whatever happened to the initial aim of HDB?

So HDB flat prices, if you remember, started to shoot up and it was common for sellers to ask for more than $100,000 COV. People even started to speculate on flat prices. Of course, to the older generation who were selling their flats then to upgrade, it was sweet news. All Mah Bow Tan back then could do was say, "Yes, HDB flats are still affordable! You don't have to buy a 5-room flat. Go look for a cozy 3-room flats and you take 30-year loan." Wow.... It was such a painful news to the young educated couples out there trying to get married and start families.

I feel that they could have done a better job in trying to segregate HDB flat pricing with that of private properties. A simple way back then was to build more BTO flats. This would have ensured the demand met supply and prevented the prices from increasing too much. Now those buyers who paid very high prices in the resale market for their flats have to suck thumb. Another way was to provide more incentives for flat buyers compared to those buying private properties.

As for CPF, clearly, for many commoners, plans for retirement have to be ditched, which means, they have to work even longer, likely past 65. It is often said the life expectancy here is increasing, so stopping work early is not such a good thing after all. I find this such a lame excuse to get citizens to work longer. It's an indirect way of saying, "Look, let's face it. Your present salaries you are earning for the next 20-30 years will never match up to the amount you need to retire."

People should have the choice to decide whether they want to continue working (for their own pleasure) or stop working (to enjoy the remaining years ahead). When there is no choice but to continue working, then alarm bells should be ringing that something is not right.

Now back to my young graduates at work.... Many have developed negative sentiments towards the government directly or indirectly. What with the "degree is not that important" slogan by PM Lee. Believe it or not, the annual pay increment for many employees in my field is only 2.8 to 3.5%. Which works out to be about $120 per annum!!! How to survive with this sort of increment?

There are some who say: "Ok, stop whining. Do something for yourself." I really don't know what they mean by this. "Do something" as in go setup some business to make more money or start investing in stocks, both of which carry much higher risks? It may work for some but for every 1 reported success story there are probably 9 unreported others who fail.

So I can empathize with the unhappiness and fears of this younger generation. Only those who are wealthy or have parents who will be leaving them with some legacy are not worried about the future here.

Is Iskandar the answer? Well, maybe. :smile: But it's still too early to tell.
 
Last edited:

Frodo

Alfrescian
Loyal
Yes, indeed.

Those young graduates at my workplace shared with me they are trying to simply work hard day by day as salaried workers. But ask them further about their plans for the future, many are clueless, mainly because they realize the cost of living here is way too high that their childhood aspirations to lead the "good life" (think mid-sized condo and a family car) in Singapore have to be thrown out.

Many of these grads I encountered did quite well in school, especially in Science and Maths, some even went to the top 5 JCs in Singapore. But unfortunately, they continued to study subjects in unis that won't make them money. I have even heard of new law grads these days being unhappy because they had to take a huge pay cut (not to mention the crazy long hours they are made to work). Everything here is now about how to make the most profits by cutting costs.

I thought the purpose of HDB and CPF were brilliant concepts. But only in the past. Along the way, especially in the last 10 years or so, the SG government seem to drastically change the way SG is being run such that many are wondering if the fundamental purposes of HDB and CPF are lost. The concept of building many HDB flats was to cater to the masses, less wealthy citizens for affordable housing. For CPF, it's to ensure everyone can retire well. But they no longer hold true for many.

I personally feel the mismanagement (can't find a better word!) of HDB flats by the government is unfortunate. For eg, for many years not too long ago, they did not build enough BTO flats even though they were expanding the population exponentially. Till today, I still don't know why this happened. There could be ulterior motives involved. They even once tried to make more money with the private developers by getting them to build HDB flats and pricing them close to $900,000! Puzzling move indeed. Whatever happened to the initial aim of HDB?

So HDB flat prices, if you remember, started to shoot up and it was common for sellers to ask for more than $100,000 COV. People even started to speculate on flat prices. Of course, to the older generation who were selling their flats then to upgrade, it was sweet news. All Mah Bow Tan back then could do was say, "Yes, HDB flats are still affordable! You don't have to buy a 5-room flat. Go look for a cozy 3-room flats and you take 30-year loan." Wow.... It was such a painful news to the young educated couples out there trying to get married and start families.

I feel that they could have done a better job in trying to segregate HDB flat pricing with that of private properties. A simple way back then was to build more BTO flats. This would have ensured the demand met supply and prevented the prices from increasing too much. Now those buyers who paid very high prices in the resale market for their flats have to suck thumb. Another way was to provide more incentives for flat buyers compared to those buying private properties.

As for CPF, clearly, for many commoners, plans for retirement have to be ditched, which means, they have to work even longer, likely past 65. It is often said the life expectancy here is increasing, so stopping work early is not such a good thing after all. I find this such a lame excuse to get citizens to work longer. It's an indirect way of saying, "Look, let's face it. Your present salaries you are earning for the next 20-30 years will never match up to the amount you need to retire."

People should have the choice to decide whether they want to continue working (for their own pleasure) or stop working (to enjoy the remaining years ahead). When there is no choice but to continue working, then alarm bells should be ringing that something is not right.

Now back to my young graduates at work.... Many have developed negative sentiments towards the government directly or indirectly. What with the "degree is not that important" slogan by PM Lee. Believe it or not, the annual pay increment for many employees in my field is only 2.8 to 3.5%. Which works out to be about $120 per annum!!! How to survive with this sort of increment?

There are some who say: "Ok, stop whining. Do something for yourself." I really don't know what they mean by this. "Do something" as in go setup some business to make more money or start investing in stocks, both of which carry much higher risks? It may work for some but for every 1 reported success story there are probably 9 unreported others who fail.

So I can empathize with the unhappiness and fears of this younger generation. Only those who are wealthy or have parents who will be leaving them with some legacy are not worried about the future here.

Is Iskandar the answer? Well, maybe. :smile: But it's still too early to tell.

It is for me! :biggrin:

HDB prices too high and sellers asking for $100k COV for jumbo flat on top of $700k valuation. So it made more sense to look a little farther beyond Woodlands to JB for a RM700K freehold landed, and rent out HDB flat to get some money to pay for JB home. It has been one year since and we have not looked back...except wishing I had deeper pocket to buy lagi bigger house with more land with clubhouse facilitiesand swimming pool.
 

Manhattan

Alfrescian
Loyal
It is for me! :biggrin:

HDB prices too high and sellers asking for $100k COV for jumbo flat on top of $700k valuation. So it made more sense to look a little farther beyond Woodlands to JB for a RM700K freehold landed, and rent out HDB flat to get some money to pay for JB home. It has been one year since and we have not looked back...except wishing I had deeper pocket to buy lagi bigger house with more land with clubhouse facilitiesand swimming pool.

I believe it works for you because you don't have school going kids? Else the daily commuting is just too punishing.
 

PuteriWorld

Alfrescian
Loyal
I always got younger grad people whom I spoke to. Lawyer, Dentists, Accountants in Big 5 etc.. They cant even afford downpayment on a 5-series or a 2nd Condo. This means something is seriously wrong with their salaries or the price of cars and properties in Singapore.
 

nusajaya2020

Alfrescian
Loyal
This is why I always say Malaysians working in SG have the best of both worlds. Good career prospects for some, earn SGD which converts to 2.5x RM, can buy multiple Malaysian properties, and have a hometown to go back to eventually. Of course some may choose to take up SG citizenship, but majority retain their Malaysian citizenship. (I'm writing as a Singaporean who welcomes Malaysians with open arms)
 
Last edited:
D

Deleted member 80916

Guest
The luckiest people are the SG PR's who get revenues from SG, & buy Malaysia at local prices.
Unfortunately many of these tend to become big-headed & boast .... And to add insult to injury, label Singsporeans as "stupid".

Nationalism no longer matters now.
Everybody seems to be a Commercial Mercenary.

How many Malaysians, evolved into Singaporean Politicians, &
Besides "serving" Singapore, have numerous proxies, relatives who buy Malaysia, quietly.

Can anyone answer,

Why is Malaysia so much in debt, to work lenders & the ringgit sooo weak ?

Iskandar can succeed faster, if the talents return to Johor, to work,
But where are the job opportunities in Johor ?
 

PuteriWorld

Alfrescian
Loyal
One of the most unpopular minister in Singapore who made a massive screw-ups in his portfolios as Ministers in a few departments had actually owned LAND in Iskandar which he bought cheaply. I heard RM 10 plus psf.

He bought a few.

And during his tenure as a sensitive minister in a particular ministry, the prices in Singapore properties were jacked up and supplies were literally cut and prices were just shooting up without any controls.

Everyone rushed in to buy into Iskandar. This same ministers land is worth some RM 150/psf.

And still he seem to get away with it


The luckiest people are the SG PR's who get revenues from SG, & buy Malaysia at local prices.
Unfortunately many of these tend to become big-headed & boast .... And to add insult to injury, label Singsporeans as "stupid".

Nationalism no longer matters now.
Everybody seems to be a Commercial Mercenary.

How many Malaysians, evolved into Singaporean Politicians, &
Besides "serving" Singapore, have numerous proxies, relatives who buy Malaysia, quietly.

Can anyone answer,

Why is Malaysia so much in debt, to work lenders & the ringgit sooo weak ?

Iskandar can succeed faster, if the talents return to Johor, to work,
But where are the job opportunities in Johor ?
 
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