Why you cannot go wrong by buying into Iskandar Malaysia
July 20, 2014
The real affordability
Defined as the average per-capita income based on a state-by-state basis, we see how different the perspective and mindset of law makers, buyers and developers are when addressing the affordability issue.
The results are opening the door to a new and interesting scenario for state rulers, developers and also investors.(Table 5). These values are median and if we look at johor and try to extrapolate real values for Iskandar Malaysia, taking into consideration the major economic developments that the "special region" has been going through, my personal take is that affordable values should be pegged between RM200,000 and a maximum of RM500,000, which is about RM250 per sq ft to RM500 per sq ft in terms of livable spaces of 850sq ft to 1,1OOsq ft. Maybe I'm wrong but, I'm aware that there are several development projects which are offering livable houses within these values. For sure, purchasers shouldn't be looking for their dream homes adjacent to Danga Bay or in the johor Baru city centre, but should widen their search up north and in the east areas in what I define as the Iskandar Malaysia Affordable Corridor of growth.