I have recently purchased an unit in Forest City. It is 1,200 sq and cost about SGD 450,000 or about $400 psf. This is 20% more expensive than high end apartments in Puteri Harbor but is about one third of the price in Singapore.
I know that it is difficult to find a tenant or to sell my unit in the future, because there is massive over supply of apartments in Iskandar.
I was surprised that the apartments are selling quite well. I was earlier offered two apartments of 1,800 sf. I did not confirm it within 1 week and they were booked by other buyers.
I did not mind. My wife said that 1,800 sf is too big. So, we opted for the smaller size apartment.
An experience property agent who markets apartments in Puteri Harbor told me that Forest City has developed much better than most people expected. The sales reported by Forest City came from real buyers.
There is restriction on transfer of currency from China to Malaysia, but the buyers from China found a way to get round the restrictions. So, the sales have resumed.
I also read a report from Hong Kong that China had relaxed some of the restriction, but the details are not clear.
One advantage of Forest City is that it is half hour drive from the Second Link. There will be a separate CIQ which will reduce the clearance time. This makes Forest City a good choice for a second home or a holiday home.
The developer planned to bring an international school, a hospital and other business activities to Forest City. If they materialize, it will be good for Forest City. But they do not, Forest City is still an attractive concept.
If you have some spare money lying uninvested and wish to visit Forest City, you can contact me at kinlian@gmail.com.
I know that it is difficult to find a tenant or to sell my unit in the future, because there is massive over supply of apartments in Iskandar.
I was surprised that the apartments are selling quite well. I was earlier offered two apartments of 1,800 sf. I did not confirm it within 1 week and they were booked by other buyers.
I did not mind. My wife said that 1,800 sf is too big. So, we opted for the smaller size apartment.
An experience property agent who markets apartments in Puteri Harbor told me that Forest City has developed much better than most people expected. The sales reported by Forest City came from real buyers.
There is restriction on transfer of currency from China to Malaysia, but the buyers from China found a way to get round the restrictions. So, the sales have resumed.
I also read a report from Hong Kong that China had relaxed some of the restriction, but the details are not clear.
One advantage of Forest City is that it is half hour drive from the Second Link. There will be a separate CIQ which will reduce the clearance time. This makes Forest City a good choice for a second home or a holiday home.
The developer planned to bring an international school, a hospital and other business activities to Forest City. If they materialize, it will be good for Forest City. But they do not, Forest City is still an attractive concept.
If you have some spare money lying uninvested and wish to visit Forest City, you can contact me at kinlian@gmail.com.
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