News by Racheal Lee

Construction firm Bina Puri Holdings Bhd has received a letter of intent from PR1MA Corporation Malaysia (PR1MA) for the construction of 994 apartment units and 20 shops in Johor Bahru.

This former tin-mining area with Chinese new villages, may not attract the attention of property investors as much as its Kuala Lumpur namesake. But it could be an option for prospective homebuyers looking for affordable homes with ready amenities close to the city centre.
The area also has an authentic unkempt feel about it.

"Despite the slowdown in the property market, there are no fire sales on the secondary market because of the strong holding power of Malaysian buyers."

Holding power and innovation are the key until the next catalysts emerge

Concerned about the mismatch of supply and demand of high-rise properties, the Johor government has also issued a freeze on new applications to build serviced apartments at the end of 2014.

Developers' interest in the area has heightened, thanks to its upcoming high-profile neighbour, Bandar Malaysia.

The gated Ferringhi Residence, to be developed in three phases, is a freehold development comprising low-rise condo villas and high-rise resort condos on 61 acres of elevated land in Batu Ferringhi.

Binastra Land notes that there is still demand for residential properties, and the price tag is in a range considered "acceptable" by buyers.