REHDA Positive on Johor's Property Outlook

Property developers remain optimistic on the future of Johor’s property market, especially in Iskandar Malaysia, reported The Star. The ‘feel good’ factor in 2012 is expected to continue this year, according to Koh Moo Hing, Branch Chairman of Real Estate and Housing Developers Association (REHDA Johor). Many members of REHDA Johor reported good take-up for most of their property launches in 2012 and they are bullish that the momentum will be maintained this year, he said. “Iskandar has been progressing well in the last six years, bringing great changes to the landscape of the property market in South Johor.” Notably, the Malaysian Property Exposition (Mapex) held last November generated RM672.14 million sales compared to RM612.63 million for the previous Mapex held in May 2012. Notably, this reflects transactions within a 30-day period. At the same time, the number of properties transacted rose to 1,449 units in November from 1,269 units in May. Moreover, Mapex sales volume had steadily increased since 2009 — Mapex April 2009 recorded RM120.52 million sales, which rose to RM142.02 million in April 2010, RM384.24 million in May 2011 and RM612.53 million in May 2012. In addition, “Iskandar has helped push up house prices between 10 percent and 20 percent from 2009 until 2012 in South Johor; hence the better sales registered,” noted Koh. But with large tracts of land still available for future residential development, prices in Iskandar remain lower than those in Penang and Klang Valley, he added.