Singaporeans are starting to look further afield when it comes to buying property and the new popular location is Johor, Malaysia. The waiting time for a Singaporean to get into public housing and high prices in the secondary market are the main reasons for the shift to Johor. The certificate of entitlement required to purchase property in the secondary market in Singapore is too expensive for a lot of young Singaporeans, and it can take up to three years to get into public housing according to The Sun Daily.
Johor offers the young Singaporean a lower cost of living and lower cost of housing. Property prices in Singapore continue to increase but supply is low. Local and permanent residents of Singapore are buying property in Johor and commuting to work.
Institute of estate agents of Singapore immediate past president Jeff Foo believes the government is trying to help young home owners but it will take time.
“The government is working to provide more properties for young people, but we will only see the effect in several years’ time,” he said.
