Share
JOHOR BAHRU (Feb 22): International real estate consultancy firm Knight Frank reckons landed property in Johor Bahru (pictured) may face greater challenges ahead as more developers build landed projects.
“Landed properties (in Johor Bahru) are still favoured by the locals, however it is expected that in the coming years it will be challenging as more developers are turning to landed developments with new and exciting concepts,” Knight Frank noted in its recently-released 2H2015 Real Estate Highlight report.
The firm also said that the general outlook for the property market in Iskandar Malaysia remains lukewarm in 2H2016, especially the high-rise residential sector.
“Currently, developers are cautious about property launches especially for the high-rise residential units in view of the slower absorption rate. The region will take time to digest the existing and incoming high-rise residential supply,” the report said.
Knight Frank said without any exciting news in 2016 Budget, the cooling measures and tighter lending conditions implemented in 2014 are expected to continue to cool down the property market, especially for the high-rise residential units.
