Malaysian developers think singapore tax could favour them

Property developers in Iskandar, in Malaysia, have reacted positively to the news last week that Singapore is about to impose restrictions on overseas property buyers.

Johor Real Estate and Housing Developers Association chairman Simon Heng told OPP this week that foreigners looking to buy residential property in Singapore, especially for investment purposes, might well travel over the bridge to Malaysia for an alternative proposition.

“With Iskandar Malaysia progressing well since its inception five years ago, buyers (foreigners and Singaporeans) are now most probably looking at Johor Baru,’’ he says.

Johor is much closer to Singapore than places like Kuala Lumpur and Penang, Heng argues, and it offers good value for money.

Source: OPP.org.uk