PROPERTY SNAPSHOT 1: Johor Bahru, catalyst city

• This week’s spotlight falls on the secondary market for non-landed residences in Johor Bahru. The areas covered in this survey include the industrial and maritime areas of Pasir Gudang; the mature estates of Skudai, Plentong and Taman Johor Jaya; the newer townships around Taman Setia Indah; the Johor Bahru city centre, and the Nusajaya region.
   
• Based on TheEdgeProperty.com’s analysis of transactions, the average transacted price of non-landed properties in the district rose in 2012 and have plateaued since mid-2013.
   
• The average transacted price retreated slightly to RM234 psf in 1Q2015, a 2% drop from the previous peak of RM239 psf in 3Q2014. However, this is still a 15% y-o-y growth on RM204 psf in 1Q2014, following a 6.3% y-o-y appreciation in the preceding year.
   
• Total transaction volume for the 12 months to 1Q2015 fell 43.9% y-o-y from 3,214 units to 1,802 units.
   
• Johor Bahru’s recent rapid development has been catalysed by the Iskandar Malaysia Economic Growth Corridor of five zones in Johor Bahru and Kulai. The Iskandar region is thrice as large as Singapore and twice larger than Hong Kong. Its key catalysts include Educity @ Iskandar, Afiat Healthpark, Iskandar Integrated Waterfront City and Ibrahim International Business District.
   
• Local stakeholders are expecting the Singapore to Johor Bahru Rapid Transit System (RTS) and the High Speed Rail (HSR) to Kuala Lumpur to be future catalysts. The RTS, which is integrated with the extensive public transport network in Singapore, will terminate at Bukit Chagar, close to the present Customs, Immigration and Quarantine Complex. The HSR will include a stop at Gerbang, Nusajaya. 

Tap here for an indication of price trends in Johor Bahru

The Analytics are based on the data available at the date of publication and may be subject to  revision as and when more data becomes available.