Raising the quality of life in a conducive environment, alongside social spaces and wellness cluster, these vacation homes in Johor are the hallmark of an enriched lifestyle where living
and learning, working and playing are perfectly balanced.
The overall residential market in Johor has shown a slight improvement in terms of volume and value of property transactions. According to Knight Frank Malaysia Real Estate Highlights – 1H 2019, as of 2018, the volume of property transacted in the State of Johor grew positively for all sub-sectors whereby the residential, commercial and industrial segments improved by 8.0 per cent, 11.5 per cent and 8.4 per cent respectively compared to the previous year (y-o-y). While the corresponding value of property transactions for the residential (1.5 per cent) and industrial (17.5 per cent) subsectors also improved, the commercial segment recorded a decline of 4.3 per cent in transacted value.
Knight Frank Malaysia also announced that there is a shift in focus in the 2020 Budget from house buyers to developers in addressing the residential property overhang. The Government’s move to lower the threshold from RM 1 million to RM 600,000 for foreigners is expected to reduce the overhang of condominiums and apartments totalling about RM 8.3 billion.
“Generally, Malaysia has a higher distribution of unsold, completed high-rise residential properties above RM 600,000 at 53 per cent compared with those below RM 600,000 (47 per cent),” said Sarkunan Subramaniam, Managing Director of Knight Frank Malaysia.
Condominiums and apartments accounted for 43 per cent of the overhang. Bank Negara Malaysia and some property industry experts have warned about a housing glut in cities such as Johor Baru. Johor’s Housing, Communication and Multimedia Committee Chairman, Dzulkefly Ahmad said the state government was considering lowering the RM 1 million threshold for foreigners in a bid to clear 51,000 unsold units in the state. He had said houses priced from RM 600,000 accounted for 70 per cent of unsold properties in Johor. Also, you can read about Kuala Lumpur’s property gems here.
Generally speaking, many Singaporeans are keen to buy houses in Malaysia as vacation homes for their own stay. Johor is one of their preferred choices due to its close proximity to the country. As of 2018, the cumulative supply for high-rise residential rose to about 104,070 units (includes serviced apartments and SOHO). Two high-rise projects were completed in 1H2019, namely Southern Marina in Puteri Harbour and Marina Residences in Permas. The handover to purchasers for Southern Marina, featuring two blocks of condominiums began around February 2019.
In Johor Bahru, the asking rentals for high-end condominiums remain stable and range from RM 2.50 per sq ft to RM 3.50 per sq ft per month. The suspension of several infrastructure projects such as High-Speed Rail (HSR) and Rapid Transit System (RTS) may affect surrounding developments in terms of capital appreciation and sales rate. However, the following developments below offers some extra salient lifestyle features that befit a vacation home for those owner-occupiers seeking a relatively more affordable place to call their “second home”.
Southern Marina Residences is the first phase of Southern Marina Puteri Harbour project and comprises two serviced apartments towers with 456 units in total (220 in Tower 1, and 236 in Tower 2). As the name implies, Southern Marina Residences is located in the private marina of Puteri Harbour, Johor and provides the comfort to live by the serenity of the sea. Phase 2 of the integrated development comprises a 34-storey office tower while the third (and final phase) will feature 38-storey seafront residences. Southern Marina Residences offers a range of facilities which include a 50m lap pool, Jacuzzi, children’s wading pool and interactive water play, as well as a tennis court.
Located within the affluent Puteri Harbor Marina, Emerald Bay comprises freehold landed bungalows, semi-detached courtyard homes as well as high-rise and low-rise condominiums.
Emerald Bay was intricately master-planned to deliver premium waterfront living. Developed on an existing fishing village, the exclusive design concept presents a nature-inspired sanctuary surrounded by open spaces, water, sea breezes and lush tropical green landscaping.
This new marine lifestyle offers a sophisticated and sustainable development, coupled with a unique local character. The waterfront homes will have mooring capabilities with private waterways weaving through the estate, where access will only be provided to Emerald Bay residents and their visitors. The development also features 24-hour security, providing a sense of privacy and safety is assured.
The Maris @ Desaru in Johor measuring 228.14 acres with Gross Development Value (GDV) of RM 2.8 billion will comprise resort-style homes. The name “Maris” is inspired by the name of a rare seashell found in Desaru Coast. Developed by UEM Sunrise, the project is a catalyst for their future developments in Desaru. The components — hotels, waterpark, conference centre — are designed to complement each other and to provide residents with an exciting lifestyle in an integrated resort environment. Desaru Coast is a premium integrated destination resort and one of Malaysia’s most anticipated tourism developments. It offers renowned resorts and villas, Adventure Waterpark Desaru Coast, Desaru Coast Riverside, Hard Rock Hotel Desaru Coast, and Desaru Coast Conference Centre.
Paradigm Residence Johor Baru (JB) is a serviced residence in Paradigm JB. Encompassing 13 acres (5.26 ha), Paradigm JB is one of the largest real estate projects in JB. This integrated development comprises the seven-storey Paradigm Mall, one of the largest regional malls in Johor that opened in late 2017 and offers over 400 retail shops on 1.3 million sq ft of retail space and 4,200 carpark bays, as well as an upcoming hotel – Hyatt Place JB set to open in 2022. As a component to Paradigm JB, Paradigm Residence will provide residents with an unparalleled convenience of play, recreation and work at their doorstep. The residence also boasts facilities like a spacious poolside lounge, a 25m infinity pool, a wading pool and a fully equipped gymnasium.