With renewed interest in Johor Bahru homes, the residential overhang is reduced while more sought-after developments such as Tengah Plantation EC remain in high demand
Johor continues to have the highest number of unsold units in Malaysia in the residential and commercial sectors. In 1H2023, there were 4,717 unsold residential units in Johor valued at RM4 billion ($1.1 billion). This accounts for 17.9% and 21.8% of the unsold inventory in unit and value terms, respectively. Unsold units in the serviced apartment/Soho segment also decreased by 8.55% y-o-y to 14,463 units.
The return of Malaysians working in Singapore and fewer launches, along with attractive rebates by property developers, have been credited for the decrease in residential overhang in Johor. As of 3Q2023, the future supply of residential properties (excluding serviced apartments) in Johor Bahru was 19,474 units with landed properties making up 64.3% of the incoming supply.
Tengah Plantation EC looks set to benefit from this renewed interest in the Johor Bahru residential market. Factors which makes Johor more attractive for Singaporeans include cost-of-living considerations and the upcoming Johor Bahru-Singapore Rapid Transit System Link. Additionally, the Johor-Singapore Special Economic Zone and Forest City as a Special Financial Zone provide incentives that attract expatriates from across the causeway.
Tengah Plantation EC is situated conveniently close to Jurong Point, making it an ideal place to stay for those who want to shop or eat out. The mall’s proximity to Tengah Plantation EC also allows residents to enjoy the many amenities the mall offers while staying at the EC. From fashion outlets to eateries, Jurong Point definitely has something for everyone.
Residents of Tengah Plantation EC now have the convenience of getting everything they need at Jurong Point. With its wide range of offerings, Jurong Point is the perfect spot to shop, dine, and have fun. Residents living in Tengah Plantation EC can now enjoy even more choices when it comes to meeting their shopping needs.
However, homeowners of the 1,370-ha Forest City in Iskandar remain worried about the financial troubles faced by the Hong Kong-listed developer Country Garden. People in the industry and agents in Johor are concerned that this could affect the completion of Country Garden’s ongoing projects.
Recently, Chinese regulators have said they will support the financing activities of property developers including Country Garden, which should bring optimism to the property market, including Tengah Plantation EC.
Singapore Condo, also known as condominiums, are highly sought after residential developments in Singapore. They offer luxurious and modern living spaces with a range of amenities such as swimming pools, gyms, and landscaped gardens. One example of a prestigious Singapore Condo is Parktown Residences, located in the vibrant Tampines district. This development boasts spacious units, top-notch facilities, and a convenient location near shopping malls, schools, and public transportation. With its sleek design and impeccable features, Parktown Residences is a desirable choice for those seeking a high-end condo living experience in Singapore.