Tag Archives: Malaysia

Plans for Johor-S’pore rapid transit system in final stages

Posted on 2 May 2013 | Comments Off on Plans for Johor-S’pore rapid transit system in final stages

Outgoing Johor Chief Minister Abdul Ghani Othman says plans for the rapid transit system (RTS) linking Johor and Singapore are in their final stages.

Speaking to reporters in Singapore, Mr Abdul Ghani said both the Singapore and Malaysia governments will finalise the costing and design of the system by the end of this year.

He added that it is also important to think about a single customs immigration and quarantine (CIQ) complex to further accelerate the movements of people between the two countries.

Mr Abdul Ghani travelled by bus from Gelang Patah in Johor to Jurong East bus interchange in Singapore.

It was his first time travelling on the Causeway Link bus and he noted that the journey took more than an hour.

Mr Abdul Ghani believes the rapid transit system will help commuters cut their travelling time between Johor and Singapore substantially.

It will also reduce traffic congestion.

The RTS is scheduled for completion by 2018.

Source : CNA – 2 May 2013

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Foreign interest up for private property

Posted on 23 Apr 2013 | Comments Off on Foreign interest up for private property

Foreign demand for private homes in Singapore increased 40 percent with 523 units purchased during the first quarter of 2013 compared to the 373 sold during the same period last year, although the figures are still below levels seen before the introduction of the additional buyer’s stamp duty (ABSD) in December 2011, The Straits Times reported.

Analysts also noted that there has been a shift in interest from luxury homes to mass market condominiums.

Quarter-on-quarter, foreigners (excluding PRs) took up 10.7 percent of the 4,884 private homes sold in Q1 this year, compared to 7.4 percent in the previous quarter.

This is also an increase from the first, second and third quarters of 2012 when foreign buyers purchased 5.7, 7.1 and 7.2 percent of new private homes sold respectively, according to the Urban Redevelopment Authority (URA).

Prime District 10 remained the most sought-after area to purchase property with District 19 following close behind. Projects popular among house hunters included d’Leedon in District 10 and La Fiesta in Sengkang.

The Chinese and Indonesians were the largest foreign buyer groups in Q1, followed by the Malaysians. Moreover, China buyers appear to be returning as a force in the market, accounting for 42.6 percent of the 108 foreign buyers in March.

Source : PropertyGuru – 23 Apr 2013

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Posted in Property Market / Real Estate

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