Johor Bahru Property Market is on the Rise!

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The completion of the Johor Bahru-Singapore RTS and a robust Singaporean dollar are driving up rental rates for properties and shopping centers in Johor Bahru's city center, rivaling those in the Klang Valley. Both RHB Investment Bank and Knight Frank Malaysia report rising interest in Johor's property market, fueled by these factors. Some high-rise property prices now match those in the Klang Valley, typically ranging from RM900 to RM1,100 per square foot. Land scarcity near the Johor Bahru-Singapore RTS has led developers to consider redeveloping older communities. Plans also include building 71,000 serviced apartment units, with 57% of the supply coming in the next 3 to 5 years. Singapore's high rental rates are boosting demand for rentals in Johor Bahru's city center, particularly at Mid Valley Southkey, a popular choice among Singaporean tourists. Additionally, major Johor shopping centers are approaching Klang Valley rental rates, with more landlords and tenants adopting turnover-based rental rates, a trend that has gained traction during the pandemic.

Several companies own properties in Johor Bahru, potentially leading to property value appreciation and additional income. These include Paradigm Mall under the ownership of $WCT / 9679 (WCT HOLDINGS BERHAD), KSL City Mall held by $KSL / 5038 (KSL HOLDINGS BERHAD), Aeon Mall Tebrau City owned by $AEON / 6599 (AEON CO. (M) BHD), and Mid Valley Southkey, which belongs to $IGBB / 5606 (IGB BERHAD).