Posts Tagged ‘Sydney’

  1. $100 Billion Chinese-Made City Near Singapore ‘Scares the Hell Out of Everybody’

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    November 22, 2016 by iskandarinsider

    Project model on display at the Country Garden Forest City Sales Gallery in Johor Malaysia, on Tuesday, Nov. 02, 2016. Photographer: Ore Huiying/Bloomberg

    The landscaped lawns and flowering shrubs of Country Garden Holdings Co.’s huge property showroom in southern Malaysia end abruptly at a small wire fence. Beyond, a desert of dirt stretches into the distance, filled with cranes and piling towers that the Chinese developer is using to build a $100 billion city in the sea.

    While Chinese home buyers have sent prices soaring from Vancouver to Sydney, in this corner of Southeast Asia it’s China’s developers that are swamping the market, pushing prices lower with a glut of hundreds of thousands of new homes. They’re betting that the city of Johor Bahru, bordering Singapore, will eventually become the next Shenzhen.

    “These Chinese players build by the thousands at one go, and they scare the hell out of everybody,” said Siva Shanker, head of investments at Axis-REIT Managers Bhd. and a former president of the Malaysian Institute of Estate Agents. “God only knows who is going to buy all these units, and when it’s completed, the bigger question is, who is going to stay in them?”

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  2. Know the transaction costs and taxes when buying property overseas

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    July 21, 2016 by iskandarinsider

    PropertytransactioncostsinMalaysia

    PROPERTY transaction costs and taxation are becoming increasingly important considerations for investors. Global consultancy Knight Frank in its recently launched Global Tax Report developed jointly with Ernst & Young revealed that indicative property tax costs can range from as low as 3.5% or 3.6% of the property price in Monaco and Dubai, respectively, to over 30% in Sao Paulo.

    To make comparisons of property taxes and costs in various countries, the analysts assumed that a non-resident investor has a sum of money (US$1 million or US$10 million) to invest in property overseas. The purchase, holding and disposal costs of owning a property over five years were then calculated.

    The report analysed the costs that a foreign individual would have to bear when buying a US$1 million or US$10 million property as an investment, and renting it out over a five-year period.

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  3. Eco World still positive on Iskandar property outlook

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    April 22, 2016 by iskandarinsider

    liewecoworldlondonproject1605

    SINGAPORE: Eco World Development Group Bhd remains upbeat on the property outlook in Iskandar Malaysia despite news reports on the slowdown in the property segment in the economic growth corridor.

    Chairman Tan Sri Liew Kee Sin said Iskandar Malaysia would continue to offer good growth prospects for the company in years to come.

    This is based on the on-track progress and development taking place in the region.

    He said the company would be launching three new projects in Iskandar Malaysia with a combined gross development value (GDV) of RM8.4bil this year.

    “The projects reflect our strong commitment in Iskandar Malaysia and they will keep us busy for the next eight years,’’ Liew told a press conference yesterday.

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