iProperty.com examines information garnered from its iPropertyiQ database which showcases property buyers’ preferences from January to December 2015. Meanwhile, brickz.my captures property transaction activities and property price trends in Johor for the first half of 2015.
Property Buyers’ Preferences In Iskandar Puteri, Johor (January – December 2015)
In the first half of 2015, the majority of visitors looking for properties in Iskandar Puteri were from Malaysia at 55.24%. Singaporeans came in second at 35.18%. Countries such as the UAE, China, South Korea, the UK and Hong Kong made up the rest of the demographic.
The most searched commercial property type in January – December 2015 was shops, at 24.30%. Coming in a close second were shop-offices at 23.72%.
2-storey terrace houses came out tops as the most searched residential property type in Iskandar Puteri in the same period (January – December 2015), recording 28.81%. Trailing in the second and third place respectively, were condominiums at 11.31% and bungalow houses at 11.04%.
In the first half of 2015, the most searched price range for properties in Medini was below RM 300,000 at 26% while the least favourite category went to the RM 1.5-2.0 million price range at 3.18%.
Overview of Johor’s Property Transactions (January – June 2015)
The highest number of transactions was recorded in Pulai, where a total of 1,071 residential units were sold in the six months.
Warrick Singh, Director of Business Development/Training of Asian Realty Sdn Bhd, Asian land Auctioneers Sdn Bhd /Starfish Training Sdn Bhd attributes Pulai’s rising popularity due to its idyllic suburban environment whilst still being within a convenient distance to the JB city centre. The Malaysia-Singapore Second Link is also a short drive away via the Iskandar Coastal Highway.
Pulai is also home to Universiti Teknologi Malaysia (UTM), the second largest public university in Malaysia. Nestled within Pulai is Iskandar Puteri, which houses the coming up 600-acre EduCity. EduCity will encompass an integrated academic hub that shelters the entire education spectrum, ranging from pre-school to tertiary levels with an influx of globally well-known education providers. Among them include Newcastle Medical School, Marlbourgh College and the University of Reading. The higher education hub will provide for a huge population catchment of student and lecturers from all over the region.
The Gelang Patah Bus Terminal (GP Sentral), located just off the Second Link Expressway boosts the appeal of Pulai in terms of connectivity. GP Sentral is the main bus interchange in the area, providing bus services to Singapore as well as intercity bus services.
The area which recorded the highest average price per sq ft at RM 236 was Tebrau. As the biggest sub-division in the JB district, Tebrau is home to various mature residential neighbourhoods such as Century Gardens, Taman Pelangi and Taman Kolam Air. Just five minutes away is the Tebrau Highway, which links directly to the causeway and Bukit Timah Expressway making travelling to and fro Singapore a breeze.
Warrick accredits Tebrau’s rising trend to the new developments in the area. Notable ones include the 330-acre Mid Valley Southkey Megamall by IGB Corp Bhd and Selia Pantai Sdn Bhd as well as 1Tebrau, an integrated development featuring designer suites and shop offices.
Located 8km to the north of Tebrau is Mount Austin, one of the most sought after residential neighbourhoods in JB. Home to the new AEON Tebrau and Austin Heights Water & Adventure Park, other localities in Mount Austin include Sunway College Johor Bahru and Austin Heights International School. In the face of diminishing land banks in Mount Austin, Tebrau is now enjoying the spillover effect of the shift in population southwards.
The project/neighbourhood that registered the highest number of residential units sold was Bandar Baru Seri Alam (BBSA), recording 138 transactions in the first half of 2015.
According to Warrick, BBSA, a new integrated development by UMLand which is sandwiched in between Permas Jaya and Masai has all the ingredients of an upcoming middle-class Malaysian township cum educational hub. Touted as the City of Knowledge, BBSA is home to 4 universities, 2 international schools, an art school as well as 8 primary and secondary level schools.
Its proximity to the newly constructed Eastern Dispersal Link (EDL) Expressway, which expedites the journey to the Sultan Iskandar Building CIQ Complex in JB, is a huge plus point for its residents who work in Singapore. As such, there is increasing interest from property investors in BBSA as it serves as a good population catchment, increasing the source of potential tenants.
DISCLAIMER: The source of data on brickz.my is from the Valuation and Property Services department (JPPH) which officially records a property transaction once the stamp duty for the Sales and Purchase Agreement is paid. Analytics are based on the data available at the date of publication and may be subject to revision as and when more data becomes available.
This article was first published in the iProperty.com Malaysia March 2016 Magazine. Get your copy from selected news stands or view the magazine online for free at www.iproperty.com.my/magazine. Better yet, order a discounted subscription by putting in your details in the form below!