In case you haven’t heard, it is pretty much a buyer’s market at the moment in real estate. Property prices are softening, resulting in properties to become enticingly affordable. The appeal is there no doubt, especially for first-time buyers, even more so as there are numerous incentives on offer now thanks to the Home Ownership Campaign (HOC).
But like all big purchases and investments, it is always prudent to put the research in first. Being informed can be the deciding factor on making a great investment for the future. The state of Johor for instance can be a potential investment for real estate, even for those out of state.
Investment Appeal Of The Southern State
Johor does not only have enticing developments and townships but is also a gateway to Singapore. It also boasts recreational appeal with theme parks such as Legoland and the Desaru Coast integrated destination resort. Additionally, the state has a well-documented supply of overhang units, which could result in more favourable prices for buyers.
Naturally, this has made the southern state a prominent search area for investors and buyers. According to a report in a national daily, Johor Bahru was the most searched location amongst Malaysian homebuyers last year. The capital city of Johor topped searches for landed and high-rise residential properties in 2020.
On Mudah.my, Johor continues to trend well and is a highly searched area amongst homebuyers. In the first quarter of 2021 itself, Johor ranked as the fourth most searched state in Malaysia for real estate. In terms of preference, capital Johor Bahru ranked the highest with 16% of the searches followed by Skudai and Pasir Gudang.
Most homebuyers’ preferences were centred on landed homes followed by apartments. A quick search on Mudah reveals more than 8000 landed homes for sale in the capital city. Skudai offers half that number with Pasir Gudang registering nearly 2000 units. No surprise JB has a good supply of apartments with over 3000 units on offer. With vast land still available, Skudai and Pasir Gudang carry about 1000 listings each for landed residentials.
Area Breakdown: Johor Bahru
JB has many appeals for residents. It remains a vibrant city but also has its own laid-back charm. Plus, with its proximity to Singapore it remains a pivotal access point for residents on both sides of the causeway. With many Malaysians seeking work in Singapore, the rental market has steady appeal.
Many attractions are also located a short drive away, which enhances the appeal of a JB home. Options are aplenty with service apartments and condos ranging from 300 sq ft to 1000 sq ft averaging around the RM200,000 to RM300,000. A brand-new unit at Pr1ma Larkin priced in the mid-RM200,000 range is considerable value as it is situated just outside the city limits of the city.
Landed residentials in the capital city are also highly sought after. On average, decent-sized homes are priced around the RM500,000 range such as this double story residential in Austin.
Skudai & Pasir Gudang
Just like Johor Bahru, Skudai is also an enticing option due to its proximity with the state capital. A suburb of JB, the area forms part of the growth corridor in the southwest area, which includes Iskandar Puteri. It is also a short drive away from Senai, where the international airport is located.
The suburb area has registered strong growth in population in recent years. As such it boasts a significant number of malls and retail districts as well as institutions of higher learning such as Universiti Teknologi Malaysia (UTM) and Southern University College.
As the area remains popular, prices for property are holding steady. Areas such as Mutiara Rini a new integrated township are popular choices for urbanites. Taman Impian is also a reputable option with choices aplenty priced from as low as RM280,000 to over a million ringgit.
Pasir Gudang, the third most popular choice for searches has grown tremendously from its industrial part. Riding on the back of logistics and agriculture, the town has grown in prominence over the years and boasts a sizeable population. Part of the appeal is due to the development of amenities and facilities such as hospitals, educational hubs, and parks.
There have also been numerous developments such as Bandar Seri Alam and Eco Tropics, which have help enhance the town, making it a viable choice for a home. Adding to that, Pasir Gudang is also a relative short drive to Johor Bahru, which is again an enticing factor for those looking to set up a home in this area of the southern state.