Iskandar still having hangover from residential market overhang

Singapore

WITH some Singapore-listed companies reeling from the impact of a lacklustre property market in Johor, the question arises whether plans by the Johor government to lower the minimum purchase threshold for foreigners could help to move the needle.

While the outlook for Iskandar Malaysia is generally expected to remain subdued next year, there could be a short-term lift for the high-rise residential market as the foreign ownership threshold eases from a minimum of RM1 million to RM600,000 for unsold, completed units. However, the lower threshold will apply only between Jan 1 and Sept 30, 2020, according to media reports out of Malaysia.