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Wednesday, November 9, 2011

Property prices forcing young Singaporeans to look at new locations

Johor is becoming a popular alternative to Singapore


Singaporeans are starting to look further afield when it comes to buying property and the new popular location is Johor, Malaysia. The waiting time for a Singaporean to get into public housing and high prices in the secondary market are the main reasons for the shift to Johor. The certificate of entitlement required to purchase property in the secondary market in Singapore is too expensive for a lot of young Singaporeans, and it can take up to three years to get into public housing according to The Sun Daily.
Johor offers the young Singaporean a lower cost of living and lower cost of housing. Property prices in Singapore continue to increase but supply is low. Local and permanent residents of Singapore are buying property in Johor and commuting to work.
Institute of estate agents of Singapore immediate past president Jeff Foo believes the government is trying to help young home owners but it will take time.
“The government is working to provide more properties for young people, but we will only see the effect in several years’ time,” he said.

Seri Maya Condominium, Jalan Jelatek

Seri Maya is a condominium comprising of lowrise and highrise apartments with a total units of 1400 apartment approximately. There are 2 lap pools, 3 gymansiums, 3 children playgrounds and 24hr security. It is located 4km away from KLCC, close to amenities, particularly the Putra LRT Station (the LRT to KLCC & PJ) is situated right opposite Seri Maya. 90% of the occupants are expatriates.

In view of the current economy slowdown, Seri Maya has become an alternative dwellings for KLCC expatriates. There are a lot of tenants (expatriates) migrated from KLCC condo to Seri Maya - reasons being, Seri Maya is easily accessible to KLCC via LRT, expats community, safe living environment, more greens and much more affordable!