“Property sales in Johor surge, driven by the Johor-Singapore Special Economic Zone (JS-SEZ), with unsold units decreasing and affordable housing projects expanding.“
Johor, 5th Feb 2025, 11.38am – The Johor-Singapore Special Economic Zone (JS-SEZ) has significantly driven property sales in Johor, reducing the number of unsold serviced apartments and strengthening market confidence, according to State Housing and Local Government Committee chairman Datuk Mohd Jafni Md Shukor.
From 2022 to 2024, property transactions in Johor have seen an upward trend of over 15%, with serviced apartments experiencing a notable decline in unsold units. Of the 102,438 serviced apartment units built, only 11,810 remain available, and the number continues to decrease.
“Last year, sales of serviced apartments saw a surge, largely fueled by the recent launch of JS-SEZ by Prime Minister Datuk Seri Anwar Ibrahim and Singapore Prime Minister Lawrence Wong,” he said during a press conference after officiating the Back to School Donation Presentation Ceremony.
At the event, 950 students, including those from low-income families, received school supplies and financial assistance from Yayasan Sejahtera Kulai.
Affordable Housing Development on Track
The Johor state government remains committed to achieving its goal of delivering 30,000 affordable housing units by 2026. More than 8,000 units are targeted for completion this year alone, marking the highest annual construction record.
“From 2022 until December 31, 2024, a total of 13,461 affordable homes have been handed over. This year, nearly 2,000 units have already been launched in Iskandar Puteri, Mersing, Kluang, and Simpang Renggam, with more set to be introduced in the fourth quarter,” Mohd Jafni added.
Affordable housing projects are spread across all districts, with 50% concentrated in Johor Bahru, particularly in Iskandar Puteri and Pasir Gudang, where demand remains high.
Reviving Stalled Housing Projects
Mohd Jafni also reaffirmed the state’s commitment to addressing stalled or “sick” housing projects. Since 2022, the government has successfully revived eight projects involving 3,500 units with a combined value of RM700 million.
“We will continue our efforts to resolve delayed housing projects to ensure homebuyers receive their properties as planned,” he assured.
With the JS-SEZ strengthening cross-border economic ties and boosting investor confidence, Johor’s real estate market is poised for continued growth, offering increased opportunities for both developers and homebuyers.