Positive outlook for Johor property

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JOHOR BARU: The outlook for the Johor property market is likely to remain positive this year, with Iskandar Malaysia continuing to drive growth in the years to come.

Johor Real Estate and Housing Developers Association (Rehda) branch chairman Koh Moo Hing said that the “feel good” factor from last year would continue in 2013.

He said many of the Johor Rehda members had reported good response for most new property launches in 2012 and were optimistic of the momentum being maintained this year.

“Iskandar has been progressing well in the last six years, bringing great changes to the landscape of the property market in South Johor,” Koh told StarBiz.

Some 36 developers which had participated in the Malaysian Property Exposition (Mapex) held last November had raked in RM672.14mil in sales over a one-month period compared to RM612.63mil from the May Mapex that year.

The total units of properties transacted had also increased from 1,269 in May compared with 1,449 in November.

The 30-day period starting from the first day of Mapex is the benchmark used by Rehda to determine the value of sales by participating developers.

He said that statistics compiled from developers taking part in Mapex Johor Baru in 2009, 2010, 2011 and 2012 showed that they recorded good sales.

For instance, developers taking part in Mapex April 2009 registered RM120.52mil in sales and the figure rose to RM142.02mil in April 2010.

For the May 2011 Mapex, RM384.24mil sales were transacted, while for May 2012, RM612.53mil sales were recorded.

During Mapex November 2009, developers chalked up RM254.96mil, with the figure going up to RM331.89mil and down to RM256.83mil in November 2010 and 2011, respectively, only to rise to RM672.14mil in November 2012.

“Iskandar has helped push up house prices between 10% and 20% from 2009 until 2012 in South Johor; hence the better sales registered,” said Koh.

However, he stressed that the prices of properties in Iskandar were still lower compared with those in the Klang Valley or Penang, as Iskandar still had large tracts of land for future housing projects.

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