Thanks for the update Jogger! My information was from late last year. You are right. Given the current market sentiments and the Teega response, 950 psf is quite likely.
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Puteri Harbour Community
- Thread starter Qube3
- Start date
Thanks for the update Jogger! My information was from late last year. You are right. Given the current market sentiments and the Teega response, 950 psf is quite likely.
UCHING: Iskandar Malaysia’s property sector will soon be comparable with that of Klang Valley on the back of the mega government to government (G2G) tie-ups and support by the Singaporean government.
Kenanga Investment Bank Bhd (Kenanga Research) in its research report noted that Iskandar was set to be the next property engine. It highlighted that Johor-based developers had been hosting numerous foreign and local investors.
“We are heartened by the increased traffic on the Second Link highway. This is a big departure from a year ago, when there were very few cars on the road,” it observed.
The support shown by the two governments was also set to boost Johor developments. Among the projects that Temasek Holdings Ltd and Khazanah Nasional Bhd to develop Marina South and Ophir-Rochor in Singapore, Urban Wellness at Medini North and the 85.5 hectare Resort Wellness project joint venture development with E&O Bhd.
“Both governments have agreed to a Johor-Singapore My Rapid Transit and the KL-Singapore High-Speed Rail which is viewed positively by the rest of the world.”
Kenanga Research believed that Johor’s property sector would soon be comparable to Klang Valley. It highlighted that new launches of cluster homes in gated and guarded communities were being priced at RM700,000 to RM850,000 per unit in prime areas with semi-detached and bungalows easily clearing the RM1 million level.
These prices were almost a 40 per cent to 70 per cent increase from 12 to 18 months ago.
“Current pricing is narrowing towards average Klang Valley pricing while in the past, Johor used to command steeper discounts of 25 to 35 per cent over the last six years,” said Kenanga Research.
The research house predicted that prices would eventually exceed Klang Valley as foreign buyers and Johorians earning in Singaporean dollars have greater spending power in the backdrop of the state’s relatively cheaper real estate market.
“We believe that there will be a two-tiered market in Johor: the investors/foreign market and the local market. As of now, the non-Nusajaya market (areas closer to the Johor Bahru city centre) is mostly driven by locals working in Johor while the Nusajaya areas are mostly occupied by foreign buyers who enjoy ‘international lot’ status with no foreign buyers restrictions,” Kenanga Research explained.
As such, the non-Nusajaya areas are largely driven by sustainable organic population, typically owner-occupiers rather than investors.
On the other hand, Kenanga Research believed that Nusajaya would see greater price speculation given the number of foreign buyers who typically see properties as investments.
“This will result in a greater push of capital values as seen with recent launches while we understand high-end launches in the near future could be averaging between RM900 to RM1,200 per square foot.”
The research house expected this trajectory to continue over the next few years since residential yields in those areas had still been commanding six to 13 per cent for properties bought three to five years ago.
Read more: http://www.theborneopost.com/2013/0...to-be-on-par-with-klang-valley/#ixzz2NNtqJTNh
Kenanga Investment Bank Bhd (Kenanga Research) in its research report noted that Iskandar was set to be the next property engine. It highlighted that Johor-based developers had been hosting numerous foreign and local investors.
“We are heartened by the increased traffic on the Second Link highway. This is a big departure from a year ago, when there were very few cars on the road,” it observed.
The support shown by the two governments was also set to boost Johor developments. Among the projects that Temasek Holdings Ltd and Khazanah Nasional Bhd to develop Marina South and Ophir-Rochor in Singapore, Urban Wellness at Medini North and the 85.5 hectare Resort Wellness project joint venture development with E&O Bhd.
“Both governments have agreed to a Johor-Singapore My Rapid Transit and the KL-Singapore High-Speed Rail which is viewed positively by the rest of the world.”
Kenanga Research believed that Johor’s property sector would soon be comparable to Klang Valley. It highlighted that new launches of cluster homes in gated and guarded communities were being priced at RM700,000 to RM850,000 per unit in prime areas with semi-detached and bungalows easily clearing the RM1 million level.
These prices were almost a 40 per cent to 70 per cent increase from 12 to 18 months ago.
“Current pricing is narrowing towards average Klang Valley pricing while in the past, Johor used to command steeper discounts of 25 to 35 per cent over the last six years,” said Kenanga Research.
The research house predicted that prices would eventually exceed Klang Valley as foreign buyers and Johorians earning in Singaporean dollars have greater spending power in the backdrop of the state’s relatively cheaper real estate market.
“We believe that there will be a two-tiered market in Johor: the investors/foreign market and the local market. As of now, the non-Nusajaya market (areas closer to the Johor Bahru city centre) is mostly driven by locals working in Johor while the Nusajaya areas are mostly occupied by foreign buyers who enjoy ‘international lot’ status with no foreign buyers restrictions,” Kenanga Research explained.
As such, the non-Nusajaya areas are largely driven by sustainable organic population, typically owner-occupiers rather than investors.
On the other hand, Kenanga Research believed that Nusajaya would see greater price speculation given the number of foreign buyers who typically see properties as investments.
“This will result in a greater push of capital values as seen with recent launches while we understand high-end launches in the near future could be averaging between RM900 to RM1,200 per square foot.”
The research house expected this trajectory to continue over the next few years since residential yields in those areas had still been commanding six to 13 per cent for properties bought three to five years ago.
Read more: http://www.theborneopost.com/2013/0...to-be-on-par-with-klang-valley/#ixzz2NNtqJTNh
You are an expert investor. So much information shared with us, very useful. Thanks brother!
Thanks again potter! Ya, I will trust you.
Btw, I found GPS coordinates and the name of a decent seafood restaurant at the Jetty.
Coordinates: * 1°22'44"N * 103°38'5"E
Tanjung Nelayan Seafood
Will try out one of these days and post an update, if I don't get lost and disappear.
Interestingly, this area was site of an air crash in 1977. Sad.
http://en.wikipedia.org/wiki/Malaysia_Airlines_Flight_653
Hi potter, finally managed to take a trip out there this afternoon. Took a Malaysian friend along, just in case. It is a nice easy, 20 minute drive from the PTP exit. Would have definitely got lost without the GPS. It is a very scenic, natural and laid back place. Looks like they are building a new jetty. The river is very clean and the view flowing into the straits is fantastic. Honestly, I would hate to see the place getting destroyed by developments.
Unfortunately, we found out that the restaurant is closed on Thursdays. Bummer. Need to head back soon, not on a Thursday.
So we went to Yeo's Seafood, near PTP. The food was fantastic as usual.
Traders room rates
http://www.shangri-la.com/johor/traders/reservations/
Deluxe Room
Starting from MYR 320 per night
Premier Room
Starting from MYR 420 per night
http://www.shangri-la.com/johor/traders/reservations/
Deluxe Room
Starting from MYR 320 per night
Premier Room
Starting from MYR 420 per night
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That's quite high end especially when the surrounding areas are still developing.
Thanks Newbie for the quick update, I did a comparison at the same official website on the rates of Traders KLCC & Puteri Harbour. The rate is priced about 17% lower at Puteri Harbour.
We can expect Somerset Puteri Harbour's rates to be close to Somerset Ampang in KL as the later's location is slightly off KLCC.
Me and my fellow investors of Somerset Puteri Harbour are all very happy with the news and benchmark rates, we are all expecting high single digit returns now based on 60% occupancy rates.
Loved it. Thanks Potter! Need to be back soon ...
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Wahaha..
with 2 drinks + 2 rice, 48.
When return, you can try using the 1st "right turn", then go through the nice kampong, which is heading to side of the 2nd link (nice view).
Noticed the roads are linked/looped, if from the leisure farm main gate(left turn), then turn left @ a T-junction, which heading to jetty.
(Surprise tat u will see kampong rd is much better than e main rd).
with 2 drinks + 2 rice, 48.
When return, you can try using the 1st "right turn", then go through the nice kampong, which is heading to side of the 2nd link (nice view).
Noticed the roads are linked/looped, if from the leisure farm main gate(left turn), then turn left @ a T-junction, which heading to jetty.
(Surprise tat u will see kampong rd is much better than e main rd).
You can always look for UEM Land sales personnel for the contacts.
Why balloting? I was in Encorp last week and all had been marked sold.
There were no units left.
Encorp Marina Tower 2, units for balloting.
T2-L10-16, C5, 1366sqft
T2-L11-08, B24, 1329 sqft
T2-L16-06, A12, 703sqft
T2-L23-03, A12, 703sqft
T2-L23A-03, A12, 703 sqft
T2-L23A-07, A21, 763 sqft
T2-L23A-08, A22, 749 sqft
T2-L23A-09, A23, 716 sqft
T2-L23A-12, A17, 698 sqft
T2-L23A-13A, C5, 1366sqft
P-L08-01, E1, 2727sqft
JB Encorp Marina avail last 10 units ballot 23/03 Sat 10am. Chq cutoff 22/03 Fri 6pm.
Didn't know that. Maybe due to returned units. Lower level units may have blocked view due to Traders / hello kitty or even Imperia. However, you get a closer look at their pools. Why don't you get in touch with their HQ office in PJ to check it out?
Why don't you get in touch with their HQ office in PJ to check it out?Didn't know that. Maybe due to returned units. Lower level units may have blocked view due to Traders / hello kitty or even Imperia. However, you get a closer look at their pools.
what is the price? Thx!
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