I'm curious to know why HK people don't rush to buy Shenzhen properties. What's the reason? Something we can learn here.Some have compared SG-Iskandar to HK-Shenzhen. I believe it is likely the same here too -- SGporeans won't rush to go to Iskandar in the next decade or two. People in SG and the govt are already planning for SG100. So that's how far the vision is.
I think Iskandar remains largely for those who want an alternative lifestyle but with some readjustments to their lifestyle. It's this part that will prevent most from moving. For families with personal businesses rooted firmly here, it's like a fish out of water to move to Iskandar. For retirees and those who don't mind the long time (tiring also) in traveling, it makes sense. So for own stay, it's ok. For investment or buying for the future, there's a big "?"
Many SGporeans will stay put in SG because of familiarity of environment. They'd rather live in small and relatively expensive HDB flats than relocate to a bigger and cheaper unit or house in Iskandar. In SG, there's the convenience of travel via our excellent public transport, safety, easy access to places in general.
As for change in govt policies, that's certainly another (political) risk. Not sure how long Najib will be in power. Whoever takes over from him can change stuffs and rules. The >RM1million rule to sell properties to foreigners caught many offguard. Another lesson to learn here is: You must have the $ and holding power when buying Iskandar properties. It's $ you may not see any returns soon. What you get is the physical property itself.
To answer your question (highlighted) , the answer perhaps can be just this - COMFORT ZONE.
Many people don't like uncertainty and move out of it.
Moving to JB while working SG is a major decision.
Many families only have one single property and to move away means many have to sell of their current home.
Many will be bothered with lots of "what if" questions - what if I lost my job or change my job, shall my wife give birth in JB or SG, where can I stay if I need to come back to SG, my parents how? her parents how?................
Comparing to JB/SG, actually the SZ/HK situation is even more conducive and favorable.
The transport system (bus and MRT) in SZ and HK is as good as SG with the train from HK stops right at the border, you walk across into SZ right into the underground MRT station.
And better can speak Cantonese in both places.
And yet Hongkongers are not rushing to settle in SZ despite the much lower cost of living and property prices.
Same there - COMFORT ZONE.
Moving to SZ, like moving to JB means long travelling time, getting up 5.30 am daily to get ready easily 4 hours wasted on the road.
But another reason should be the education for the kids.
Many still prefer to have their children educated in SG (situation same in HK) and sending them for enrichment class (tuition, music, arts, ballet, etc) here.
In fact, many Malaysian parents in JB spending good money sending their children to study in SG (noticed those bright orange BUS SEKOLAH carrying kids to schools here?), why do the reverse?
