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Is Iskandar Property Still Worth Investing In 2016? | WMA Property
Ever since the end of 2013, the Iskandar property market peaked from a period of super high growth to a gradual decline. To add to the problem, the Iskandar Redevelopment Authority (IRDA) announced partnerships with 3 major Chinese developers to develop more than 107,000 high-rise units in Iskandar Malaysia. Shocked by this news, panicking investors and homeowners stopped looking into real estate. Crowds in developer showrooms dried up virtually overnight, and the market dropped from white hot to stone cold. Property speculators who blindly bought property with no interest and low upfront cash started to panic about selling when prices went down, and some desperate sellers appeared willing to sell at seemingly any loss just to recoup some of their cash. Media and experts are saying that it's the end of the Iskandar dream of being a world class Metropolis by 2020, that Iskandar would become a ghost town with gleaming new structures and nobody staying. Is that how the story ends? To