Will the latest cooling measure send more Singaporeans to invest in Nusajaya?

Last Sunday many property investors planning for their 2nd or 3rd property purchase woke up to a rude awakening of another around of cooling measure.

Hot on the heels of a record high HDB resale flat price of over $1 million transacted recently and red hot property launches that are seeing breeze sales, MAS introduced a cap on loans tenure to 35 years and tighter limits for home loans longer than 30 years or which extend beyond age 65. In addition borrower with existing home loans can only borrow up to 40% down from 60%.

Some already pull up the handbrake but is it game over for these group of investors?

Nusajaya Properties looking up

My guess this group of property buyers will start to look for overseas opportunities. One destination that is gaining attention is Iskandar Development Region properties. One area that has been in the Singapore media of late is the Nusajaya township just 10 mins from the 2nd link.

Even before the recent cooling measures were introduced, many more gung-ho Singaporeans and expats in Singapore, who were priced out of Singapore home market, had already ventured into Nusajaya home market as early as 2009.

As security is a major concern for most Singaporeans and expats alike, developers offer gated communities for most their developments in Nusajaya providing tighter security for the safety of their residents.

Better connectivity is another factor that is drawing more Singaporeans across. The new toll free Coastal Highway is ready now and this highway allows commuters to zip through and fro between the 1st link and 2nd link in 20 mins and most amenities such as Legoland, Educity, Medical Centers, Bukit Indah shopping centers, Puteri Harbour marina resorts are all within 10mins drive.

Many of these attractions and amenities have opened this year. Nusajaya township is fast developing and no longer just a pipe dream. Confidence of Singapore property investors have since raised markedly.

Puteri Harbour Developments

For condominium lovers, some Singaporeans are looking to Puteri Harbour properties of late. Of the whole Nusajaya township, Puteri Harbour is the gem in the master plan  The vision is to turn this into a cosmopolitan metropolis with luxurious waterfront living.

Early this year Somerset Puteri Harbour Service Residence launch saw breeze sales with Singaporean buyers making up the majority and some were reportedly made multiple purchases.

It is developed by Nusajaya Consolidated Sdn. Bhd., a joint-venture company with UEM Land, is set to be managed by the Ascott Limited, an internationally distinguished service apartment operator and member of CapitaLand under a pre-arranged 10-year leaseback agreement.

More developments in Puteri Harbour are set to launch this last quarter and early 2013. One development that is geared to launch soon coming end Oct-early November is Encorp Marina. This development is also service-on-demand apartment but with more luxurious facilities in offering and is a taller development, standing 30 storeys high, as compared with Somerset which is a low-rise five and six-storey development, offering stunning marina views.

As Puteri Harbour is only just taking shape, there will be plenty of offerings in the coming year. This, I am sure will be music to Singapore property investors' ears who are affected by the latest cooling measure. Time to release the handbrake and move to a greener pasture?