CJMY
As rental prices continue to skyrocket in Singapore, an increasing number of Singaporeans and expatriates are seeking alternative housing options, with Johor Bahru emerging as a highly attractive and affordable choice.
In recent months, Singapore has witnessed a significant increase in rental prices for private housing, with a staggering surge of nearly 30% in the previous year.
This spike marks the largest increase since 2007, leaving many residents, especially expatriates, struggling to cope with the financial burden. Analysts predict that rental prices will continue to rise, albeit at a slower pace, in the coming year.
The impact of these rising costs has been particularly harsh on long-time expatriates living in Singapore, who are now forced to dig deeper into their pockets or make drastic changes to their living arrangements.
Rental prices for private housing in Singapore experienced a staggering surge of nearly 30 per cent last year, marking the largest jump since 2007, according to a report by Today Online. The data, released by the Singapore Urban Development Authority (URA) on January 27, revealed a 29.7 per cent increase in private property rental prices over the course of 2022.
This substantial rise followed a 9.9 per cent increase in 2021, highlighting the escalating trend in rental costs. The unprecedented surge in rents before 2022 was witnessed in 2007 when they skyrocketed by 41.2 percent.
Johor Bahru’s proximity to Singapore, coupled with its English-speaking population and lower cost of living, has drawn the attention of those looking for relief from the escalating rental prices in Singapore.
Additionally, the recent decline of the Malaysian ringgit against the Singapore dollar has further enhanced the affordability factor, making Johor Bahru an even more enticing choice.
The accessibility between Johor Bahru and Singapore is another significant factor driving interest in the city. With hundreds of thousands of people flowing across the border daily, the distance between the two cities is easily manageable.
In a concerted effort, the federal government and Johor state government have been implementing several initiatives aimed at alleviating border congestion and facilitating smooth travel between Johor Bahru and the neighbouring island state.
Commuting is facilitated by the transportation infrastructure, with cars, trucks, and motorcycles crossing the Johor Strait, which is less than half a mile wide at its narrowest point. This close proximity allows individuals to maintain their connections with Singapore while enjoying the cost advantages of living in Johor Bahru.
Admin
