Koridor Pembangunan Selat Johor (KPSJ) 2025
http://www.johor.gov.my/kpsj/
To be implemented in early 2016...
http://www.johor.gov.my/kpsj/
To be implemented in early 2016...
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Johor Strait Development Corridor Master Plan 2025
- Thread starter FHBH12
- Start date
Johor coastal development good for locals, not for foreigners
FMT Reporters | August 14, 2015
Leasehold restriction on foreign property owners may see them looking elsewhere, says property consultant.
JOHOR BAHRU: Certain aspects of the Johor Strait Development Corridor Master Plan may not be attractive to foreign investors and they could sink their money in other development projects in the state.
The master plan is the development framework for coastal areas along the Johor Straits which stretches 98km from the Tanjung Piai in the west to Sungai Johor in the east.
Property consultant Samuel Tan said the 99-year lease imposed on foreign property owners for instance, could drive investors to areas like Medini, a 9.2 sq km township in the southern economic zone of Iskandar Malaysia.
Foreign property owners would also have to pay three times more for quit rent and assessment compared to Malaysians in the growth region.
Medini, which includes a premium waterfront urban development facing Singapore, has no restrictions on foreign ownership, no minimum price threshold for foreign property buyers and investors are exempted from real property gains tax until Dec 31, 2025.
The master plan was unveiled last week and is open for public viewing at six venues in Johor until Wednesday.
The master plan covers housing, green technology, sustainability, reclamation and setting up of international zones for foreign property owners.
Johor Housing and Local Government Committee chairman Datuk Abdul Latif Bandi said they would look into all environmental aspects, including preserving the Ramsar wetlands sites, in the development area.
Tan, who is the executive director of KGV International Property Consultants, said it was understandable that the state government protects both the environment and the interest of Malaysian property owners.
“The price threshold of RM2 million for landed properties and RM1 million for strata-title on foreign property owners could spur developers to push up prices of properties built for Malaysians in Iskandar Malaysia,” said Tan in a report carried by the New Straits Times.
http://www.freemalaysiatoday.com/ca...velopment-good-for-locals-not-for-foreigners/
FMT Reporters | August 14, 2015
Leasehold restriction on foreign property owners may see them looking elsewhere, says property consultant.
JOHOR BAHRU: Certain aspects of the Johor Strait Development Corridor Master Plan may not be attractive to foreign investors and they could sink their money in other development projects in the state.
The master plan is the development framework for coastal areas along the Johor Straits which stretches 98km from the Tanjung Piai in the west to Sungai Johor in the east.
Property consultant Samuel Tan said the 99-year lease imposed on foreign property owners for instance, could drive investors to areas like Medini, a 9.2 sq km township in the southern economic zone of Iskandar Malaysia.
Foreign property owners would also have to pay three times more for quit rent and assessment compared to Malaysians in the growth region.
Medini, which includes a premium waterfront urban development facing Singapore, has no restrictions on foreign ownership, no minimum price threshold for foreign property buyers and investors are exempted from real property gains tax until Dec 31, 2025.
The master plan was unveiled last week and is open for public viewing at six venues in Johor until Wednesday.
The master plan covers housing, green technology, sustainability, reclamation and setting up of international zones for foreign property owners.
Johor Housing and Local Government Committee chairman Datuk Abdul Latif Bandi said they would look into all environmental aspects, including preserving the Ramsar wetlands sites, in the development area.
Tan, who is the executive director of KGV International Property Consultants, said it was understandable that the state government protects both the environment and the interest of Malaysian property owners.
“The price threshold of RM2 million for landed properties and RM1 million for strata-title on foreign property owners could spur developers to push up prices of properties built for Malaysians in Iskandar Malaysia,” said Tan in a report carried by the New Straits Times.
http://www.freemalaysiatoday.com/ca...velopment-good-for-locals-not-for-foreigners/
Careful on some warning that are false. Some hypocrites here trying to ask people don't invest in JB but they themselves die die keeping their property in JB. Now is probably is the right time to buy JB property if you have cash in hand (Sing Dollar) due to the exchange currency. Massive discount due to strong Sing dollar!
Relax... stay positive and Johor state government will not want to do anything that will annoy our beloved Sultan.
Yes you are right. If freehold can become leasehold without the msia govt paying any compensation to existing foreign investors, which foreign property investor will still want to buy in JB in future?
No one will turn investors freehold properties to leasehold. This is illogical and not what Johor State Gov wanted to do or mentioned.
Those so called international zones to become leasehold only. So what will the investors' freehold properties in these international zones turn into?
What is freehold remain as freehold. Therefore, those who bought earlier and buying now before the new ruling implemented will be the lucky one.
Provided u hold it 4ever & dun sell it ever!
No foreign investors can buy it from u ever!
As foreign investors can only buy leasehold!
Locals will take advantage Lowball u 4ever!
Yes, you are right. Only locals waiting to take advantage will call the foreigners who have bought the lucky one.
Nothing wrong selling it to local as long as the price is good.
Would anyone want to give a good price under such scenario of only can sell the freehold property to locals but not foreigners?
Of course cannot flip so easily like before. As long as the location of the property is good and the price is reasonable, sure have the demand. You must not forget there are many Singapore PRs who are Malaysian. They are equally rich.
Equally rich doesn't mean will be willing to pay equal price for such property with restrictions, compared to when there is no such restriction.
They will be buyers as long as the location is good and strategic. If you expect big return or flipping, forget about investing in JB at this moment. Reasonable profit from investment or for own stay is still good in JB.
Still good then you should go buy freehold in the international zone now, and after the policy implementation you can come tell us whether the profit is reasonable or not to you.
If you so kiasu / kiasi, what advise will you give to those who already bought at International zone? Ask them to sell?
If you so confident of the market now, then you should go buy yourself and advise your family members and close friends/relatives to buy freehold in international zone now and wait for the restriction to come in place and realise your reasonable profit.
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