22 Apr '15, 6am

Iskandar will not be white elephant: MP

Iskandar will not be white elephant: MP

Comment E-mail to friend Bookmark & Share Following a warning by Malaysia’s biggest bank on the risks of a housing glut in Iskandar, lawmakers in Johor said demand for prime houses in the region has lagged far behind supply. “There is a misconception about the demand market here … there is a clear mismatch between supply and demand,” said Shahrir Abdul Samad, MP for Johor Bahru. “There is an oversupply of premium properties, (but) the demand … is for medium- and low-cost ones, owing to people’s incomes,” the former Domestic Trade and Consumer Affairs Minister noted. In its report, Maybank advised investors to be cautious of Iskandar due to the housing glut there, which it expects will be aggravated by huge incoming supply in 2015 and 2016. It also predicts property values in Iskandar will come under greater pressure in the medium term, particularly with the value of proper...

Full article: http://www.propertyguru.com.sg/en/property-management-new...

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