Johor housing and local government committee chairman Datuk Mohd Jafni Md Shukor (middle, in blue) taking a group photo with the recipients of the Back to School Aid programme at Dewan Raya Putra, Bandar Putra, Kulai.
KULAI: The introduction of the Johor-Singapore Special Economic Zone (JS-SEZ) has helped reduce property overhang in Johor, says Datuk Mohd Jafni Md Shukor.
The Johor Housing and Local Government Committee Chairman said that demand for serviced apartments is on the rise and is expected to continue growing.
He added that, currently, there are 27,688 serviced apartments under development in the state, with another 24,592 units awaiting planning permission.
"Between 2022 and 2024, Johor recorded over 15% growth in overall property sales, including those affected by property overhang. This includes serviced apartments priced at RM500,000 and above.
"As of December 2024, there are 102,438 serviced apartment units in Johor, where only 11,810 remain unsold.
"However, the number of unsold properties in Johor has continued to decline following the introduction of the JS-SEZ by Prime Minister Datuk Seri Anwar Ibrahim and his Singaporean counterpart, Lawrence Wong, last month," he explained.
Mohd Jafni said this after officiating the Back to School Aid programme at Dewan Raya Putra, Bandar Putra, on Sunday (Feb 2).
He further clarified that 90% of the overhang properties in Johor involved serviced apartments priced at RM500,000 and above, while only 10% of overhang properties consist of single-storey and double-storey landed properties, including strata and bungalow units, which have already been sold.
More to come.
Johor housing and local government committee chairman Datuk Mohd Jafni Md Shukor (middle, in blue) taking a group photo with the recipients of the Back to School Aid programme at Dewan Raya Putra, Bandar Putra, Kulai.
