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On 10 February, our Health Ministry announced that Singaporeans will be able to use their Medisave when seeking treatment at 12 selected Malaysian hospitals starting March 1 this year. Which makes you wonder if health care has become less affordable here and if our government genuinely cares about the welfare of Singaporeans. But that’s another issue altogether.
Now, how is all this tied to property? For those of you making plans to seek treatment across the causeway, it may be a good idea to invest in a property in Iskandar as part of your retirement plans. Iskandar is just 15 minutes away from the Tuas checkpoint. The nearest approved hospitals there are Regency Specialist Hospital in Johor and Mahkota Medical Centre in Malacca. Travelling is also hassle free as a pilot test of the Malaysian Automated Clearance System was extended to all frequent travellers to Malaysia in September last year.
Now I know some of you have reservations about investing in Johor. At Cityscape Asia last year, I managed to speak to the CEO of Iskandar Investment Berhad (IIB), Puan Arlida Ariff, who shared with me pertinent information that was not public knowledge.
Firstly, Malaysian Prime Minister Najib Razak allocated a substantial amount of money for Iskandar Malaysia when he announced the second stimulus package – a signal that the Malaysian government wants Iskandar Malaysia to succeed. Secondly, the Prime Minister was the person who was responsible for brokering Iskandar Malaysia’s first biggest property deal - Medini. These are clear signs from the Malaysian government that should assure wary Singapore investors. In addition, IIB is working in close partnership with Iskandar Regional Development Authority (IRDA) on a comprehensive safety and security blueprint with the aim of reducing street crime by the end of 2010. To support Iskandar’s growth, a mixed development project called Nusajaya is also underway.
Last year, I had the chance to visit the various residential developments coming up in Nusajaya and I must say, I am impressed. One of the projects there is East Ledang where you can own a landed twin villa from just RM 1,162, 888. Its condominium tower, Ujana Nusajaya, offers views of Singapore and the Straits of Johor from RM 414,888. All these developments are gated and guarded with round-the-clock security and are comparable to what you get for overpriced 3 and 4-room HDB flats in Singapore. In short, you get to enjoy a better quality of life but at a fraction of the cost.
In case you don’t already know, you don’t actually own HDB flats. You actually lease them from the HDB for 99 years (check your contract!). Whereas in Iskandar, you become the rightful owner when you sign your sales and purchase agreement.
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Reader Comments (1 comments)
Hi Khalil What's your take on new condo launches in Iskandar( Skyloft, Medini, etc), can you share some insight about the reputation of these developers. Also, how will you rate 99-year vs freehold in Malaysia. Lastly, with so many Singaporeans burnt by previous property venture in Malaysia, what's your take on a repeat of such events Thanks