Chart of the Day: Check out this really huge price gap between Iskandar, Singapore condos

Iskandar's are worth US$250 psf.

According to CIMB, the biggest attraction of Iskandar for Singapore property buyers is price.

Singapore property prices are now above their historical highs (up c.45% from 2008) which has prompted the government to introduce stringent measures to curtail investment demand.

While average prices at Iskandar have also more than doubled since 2008, current house prices remain 4-8x lower than that of Singapore.

Here's more from CIMB:

This only takes into account entry-level prices in Singapore. On a like-for-like basis, the price differential can be even starker.

For example, a prime bungalow of 15k sq ft built-up area will cost around US$18m in Singapore.

For that amount, buyers will be able to buy more than 10 equivalent units at Horizon Hills, Iskandar.

We believe the rising cost of living and unattractive yields in Singapore are starting to channel some genuine and investment demand offshore.

Given the close proximity of Johor and the expected improvement in connectivity between Johor Bahru and Singapore, Iskandar will be a natural choice for Singapore property buyers.

Property buyers tend to invest in regions that they understand. The close proximity as well as cultural and demographic similarities are likely to convince many Singaporeans to deploy their investment capital into Iskandar, in our view.

We see an increasing number of Singaporeans now opting to stay in Johor Bahru and commute to Singapore for work.

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