Since 2009 there is a tremendous surge of people at JOHOR HIGH COURT. Bidding for Auction Properties have been getting fiercer and fiercer Year After Year!!
Let us give you the statistics compiled from LELONGTIPS.COM’s archive:
House No. 22, Jalan Panglin 1, Taman Perling. A single storey Freehold property with 1760 sq ft land came out for Auction 4 Times.
No.1) 21 June 2010. Reserved Price: RM108,000. SOLD: RM140,000. It was rumoured that the highest bidder did not go through the Offer because he thought that he made a mistake and overpaid at bidding.
Since the house was quite run down he forfeited his deposit of RM10,800 (10% of reserved price). He thought he could try his luck again at a lower price.
No. 2) 20th September, 2011. The same house came out for Auction at the same Reserved Price of RM108,000. The Final Bid Price was RM195,000.
Again the Buyer did not go through the deal and forfeited his deposit. It was rumoured that he expected the price to fall lower if he should try again.
No. 3) 30th October 2012. As expected the same 22, Jalan Panglin 1, Taman Perling house came out for Court Auction. This time the Reserved Price has dropped to RM100,000. I myself was tempted to participate in the Auction, but from past experiences, I know that it will be a waste of time.
On the day of Auction, 63 people turned up for this particular property. And the final bid price? A Whopping RM250,000!!! However, due to unknown reasons, the Highest Bidder did not take up the offer.
No. 4) 27th August, 2013. So This Same Property came out for Auction Again At A Very Attractive Low Reserved Price of RM100,000. And The People of JOHOR (ISKANDAR) went into a Bidding Frenzy. The Final Bid Price Is A Crazy RM290,000!!!
LET’S LOOK AT THE PROGRESS:
YEAR 2010: RESERVED PRICE: RM108,000. BID PRICE: RM140,000
YEAR 2011: RESERVED PRICE: RM108,000. BID PRICE: RM195,000
YEAR 2012: RESERVED PRICE: RM100,000. BID PRICE: RM250,000
YEAR 2013: RESERVED PRICE: RM100,000. BID PRICE: RM290,000!!!
This Shows That Prices Have Almost Tripled in 3 Years! This Is The Thermometer & Feel Of The Skyrocketing Prices of ISKANDAR PROPERTIES.
So don’t wait any longer.
If you are a Johorean (Iskandarian) and don’t own any property, don’t wait any longer. Buy now or prices will fly away beyond the sky!
A low cost house in Jalan Seroja 22, Taman Johor Jaya (Located near Giant Plentong) came out for auction on 3rd September, 2013. It is Freehold. Only 753 sq ft. Reserved Price: RM65,000.
The Bidding Went Into Another Frenzy. Final Bid Price? An unheard of RM140,000 for an original (no renovation) low cost house. Original price was RM22,000.
At This Rate Our Humble Forcast Will Be:
Expect All Low Cost Houses To Cross RM200,000 Mark in 5 years.
Expect All Single Storeys To Cross RM500,000 Mark in 5 years.
All Double Storey Houses Will Move Towards RM1 Million by 2018
All Cluster House Prices Will Be Far Above RM1 Million by 2018
All Bungalow Prices Will Be In Uncharted Territories!!
IMPOSSIBLE? GO TO KUALA LUMPUR, THEN. AND TAKE A LOOK FOR YOURSELF!
IN 5 YEARS’ TIME WHEN THE VISIBLE SIGNS OF THOMSON MRT FROM SINGAPORE ROLL INTO JB & KL – SINGAPORE BULLET TRAIN UNDER CONSTRUCTION – ISKANDAR HOUSE PRICES WILL RISE UP TO MATCH AND OVERTAKE KL’S. ALL KUALA LUMPUR LOW COST HOUSES ARE PRICED AROUND RM200,000 to RM300,000 RIGHT NOW.
ISKANDAR WILL BE WHAT KL IS NOW – IN 5 YEARS’ TIME. NOW YOU SEE!
IN 3 YEARS House No. 22, Jalan Panglin 1, Taman Perling increased from RM140,000 to RM290,000 – A Jump of RM150,000!! RM150,000 divided by 3 years equal to a Yearly Increase of RM50,000.
From Now Year 2013 to 2018 is 5 Years Away. So Multiply RM50,000 (yearly price gain) by 5 = RM250,000.
Therefore the computed Price of 22, Jalan Panglin 1, Taman Perling will be RM290,000 + RM250,000 = RM540,000 (In Year 2018).
In Tandem with This Single Story House in Taman Perling All Other Single Storey Houses in Iskandar will rise together and cross Half A Million Ringgit Mark!
RM500,000 Is The Projected Bench Mark by Year 2018. Prices of All Other Single Storey Houses may vary due to Location, Added Features Like Renovations, Desirability, Accessibility, Etc, Etc..
Other Factors Which May Influence Prices Are:
- Withdrawal Or Additional US QE Impact On World Economies.
- Progress Of Singapore MRT From Thomson to JB Sentral, Bullet Train From KL & JB Intra Rail Network.
- Prices Of New Property Launches For All New Single & Double Storey Houses in 2018.
New Single Storey Houses in Year 2018? Probably no longer available by then. The only Available New Launch for Single Storey Houses is in Ulu Tiram by Pelangi Berhad. Priced at nearly RM400,000. Expected to be ANOTHER SELL OUT! This will be the Last Offer for Year 2013.
IMPORTANT NOTE: With spiralling land costs it is no longer feasible to build single storey houses. In future expect only high rise condos to be built. As such there will be a limited upside for Condo price appreciation due to the over expansion in the building of many, many high-end Condos in Iskandar.
In August 26th to September 3rd, Many People Queued for 7 Days & 7 Nights for 2 Storey Houses Priced at RM585,000 in Bandar Dato Onn. All snapped up on the same day when Door opened For Sale. 2 Storey Houses in Taman Ehsan Jaya, Plentong (991 years leasehold) will be launching above RM600K soon.
REMEMBER THE PENDULUM SWING PRINCIPLE? 12 YEARS DOWNSIDE FOR JOHOR PROPERTIES SHOULD BE COMPENSATED BY 12 EQUAL YEARS OF SPECTACULAR UPSIDE. 2009 to 2013 is Only 4 Short Years (And What A Powerful 4 Short Years!!).
FOR ISKANDAR PROPERTY BUYERS & INVESTORS – THE BEST IS YET TO COME!
In The SINGAPORE BUSINESS TIMES (Sept 12th, 2013) The Statistics Show That There Are 10,609 BUNGALOWS IN SINGAPORE. FOLLOWED BY 21,450 SEMI-DETACHED HOUSES. AND ONLY 38,546 TERRACE HOUSES IN SINGAPORE.
The Singapore Paper Further States, “THE NUMBER OF LANDED PROPERTIES HERE (SINGAPORE) WILL REMAIN BELOW 75,000 UNITS, DUE TO THE LACK OF AVAILABLE LAND.”
SINGAPORE HAS LESS THAN 75,000 HOUSES. REASON? DUE TO LACK OF AVAILABLE LAND.” Remember, Taman Perling alone has 10,000 Houses.
LANDED PROPERTIES WILL BE GETTING SCARCER AND SCARCER AS MOST HOUSING DEVELOPERS HAVE LITTLE LAND LEFT.