There is a potential for more expatriates to buy properties in Iskandar Malaysia following Singapore’s announcement of a 10 percent Additional buyer’s Stamp Duty (ABSD) late last year for certain categories of residential property purchases in the republic.
Johor Menteri Besar Datuk Abdul Ghani Othman commented that it would mean more reasons for people to visit the state.
He said ABSD would be good source of revenue for Singapore but felt the rate was high for foreign property buyers.
Singapore announced last December that the 10 percent ABSD would be imposed on foreigners and non-individuals (corporate entities) buying any residential property.
Meanwhile, the Southkey project which was based on a blueprint by leading master planner Professor Philip Cox of Cox Architects from Sydney, Australia would rejuvenate and energize Johor Bahru in future.