“The best thing about the unit is the amazing view.
But the house is just left there, collecting dust and its value is going down by the day.
Condominium developments around Johor Bahru were built with foreign buyers in mind, but the pandemic has closed borders, leaving many of them empty.
“Many developments were targeting a large proportion of overseas buyers.
K told CNA that she had purchased the unit in 2019, with the idea of renting it out for investment returns.
Fifteen months later, she has lowered the rental price to RM3,800 and there has not been a single offer from potential tenants.
“I think considering the circumstances, I have no choice but to lower the rental price.
She noted that locals with more spending power were typically Johoreans who commuted daily to Singapore for work.
Horizon Hills is popular among foreign buyers, especially Singaporeans, as it is a mere 15-minute drive to Tuas Second Link.
“It is sad because she already got robbed, but now she has to fork out more money to try to sell it off.
“Developers have since then restructured and re-looked at planning to target more local purchasers i.e.