The grass and vegetation in Iskandar look the same as Singapore. The air that we breathe is the same. ON Any given rainy day when rain falls in Woodland, JB also experience similar rainfall. From Sumatra burning peat forest smog and mist cover both Iskandar & Singapore alike.
Why then there is a Vast Difference between PROPERTY PRICES IN ISKANDAR & SINGAPORE. What’s the Differences?
No.1 ) Per Capita Income of Singapore is 4 to 5 times More.
Yes. That is in Economic Statistics. In Reality the majority of Johoreans who travel to Singapore daily for work are paid about 10% to 20% More in Comparative Wages. The Difference is in the EXCHANGE RATE. One Sing Dollar equals RM2.40. That means that the Average Price Difference is only about 3 times.
But PROPERTY Prices Over There in Singapore are 15 times higher. That was then. At every new Property Launch, Properties Are Priced Higher & Higher – NAROWING THE GAP BETWEEN ISKANDAR & SINGAPORE.
Comparitively, price differences have been further narrowed down to one is to eight or ten. That means that for every unit dwelling place you buy in Singapore you can actually buy 8 to 10 similar units in Iskandar.
We can say that Property Prices in Singapore is Expensive & Unaffordable. Wages only 3 times more than Iskandar, but property prices 8 to 10 times more expensive. Or we can also say that property prices in Iskandar is Cheap & Affordable as Wages is Only one-third of Singapore’s, But property prices cost 8 to 10 times Less Than Singapore’s.
No matter how you may put it, prices are catching up. But how high.
No. 2 ) SCARCITY
SINGAPORE HAS LIMITED LAND. GROWTH IS CONSTRAINED BY SCARCITY, MORE VERTICAL GROWTH WILL BE THE NORM. AS SUCH PRICES OF PRECIOUS LAND CAN ONLY GO UP. DEMAND ALWAYS EXCEED SUPPLY.
Not so for ISKANDAR. There is still Vast Land in ISKANDAR & JOHOR as a Whole. Property Prices can only Go Up So Much.
No.3 ) MRT & HIGH SPEED BULLET TRAIN
Not if Connectivity Becomes Enhanced And Seamless. If more Singaporeans decide to sell their HDB Flats and Move to ISKANDAR, price gap might narrow down one is to six.
No.4 ) HIGH PAYING JOBS
The Average Pay of a Worker in LEGOLAND is RM1,500 – less than the wage of a cleaner in S’pore. But higher Paying Jobs are Coming Iskandar’s Way. PENGERANG OIL & GAS. The Average Pay of a skilled worker is RM2,500. Middle Managers RM7,000. Those in Upper Bracket Level RM20,000.
As you can see, Higher wages mean higher purchasing power.Other High Paying Jobs Are Film Stars from Pinewood Studio (think of Hollywood’s impact on Beverley Hills), Scientists in BIO X Cell in SILC, TECHNICIANS IN
ASCENDAS TECH PARK, LECTURERS IN EDUCITY, DOCTORS IN VARIOUS MEDICAL HOSPITALS, KNOWLEDGE WORKERS IN FROST & SULLIVAN, EXPATRAITS FROM SINGAPORE, JAPANESE IMMIGRANTS IN TAMAN MOLEK, BANKERS IN FUTURE ISKANDAR FINANCIAL CENTER. & MORE TO COME.
All these High Quality Jobs with High Pay will continue to Push Up Property Prices In ISKANDAR – Further Catching Up With The Property Values In SINGAPORE. AND IF GROWTH CONTINUES TO ACCELERATE FOR THE NEXT 10 YEARS, THE BENCH MARK THEN MAY NOT BE WITH SINGAPORE. IT WILL GO INTERNATIONAL – COMPARATIVE TO THE WORLD’S BEST.