The Johor Baru-Singapore Rapid Transit System Link is expected to be a game changer for the property sector in Johor.
JOHOR property developers are feeling optimistic as they are seeing signs indicating the state’s housing industry is on the mend after uncertainties brought about by the Covid-19 pandemic.
Real Estate Housing Developers Association (Rehda) Johor chairman Wong Boon Lang is hoping for good things to come after three years of adversity.
Wong is confident that Johor Rehda members will emerge even stronger now and put negative thoughts behind them.
He said several developers had begun to test the market with new launches last year, and in 2023, and have done well with their projects.
Wong said while they were facing challenges such as inflationary pressure and a weaker ringgit, these have not dampened their spirits and they were ready to seize opportunities ahead.
“We have chosen a most appropriate theme called ‘Transforming Challenges to Opportunities’ for the Johor Malaysia Property Expo 2023 (Johor Mapex2023),” he said.
The property expo will be held from Nov 17 to 19 at Johor Baru City Square shopping mall.
Wong says he is noticing signs of recovery in Johor’s property sector.
Thirty-eight developers will showcase RM6.2bil worth of property at 90 booths.
Five banks will also participate to provide advice to prospective property buyers.
Perbadanan Kemajuan Perumahan Negeri Johor (PKPJ) will set up two booths.
Wong said now was a good time to buy property, especially for first-time homebuyers and locals working in Singapore due to its strong dollar.
Wong encouraged people to consider buying houses now instead of renting, taking into account several high-impact projects that would boost Johor’s economy.
He said the Johor Baru-Singapore Rapid Transit System (RTS) Link would be a game changer for development in Johor, especially in Iskandar Malaysia.
When the RTS Link is up and running by 2026, it will reduce traffic congestion at the Johor Causeway and improve land connectivity and accessibility between Malaysia and Singapore.
The RTS Link is designed to move 10,000 passengers per hour in each direction between Bukit Chagar in Johor Baru and Singapore’s Woodlands North.
He also said the creation of Special Financial Zone and Special Economic Zone as announced by Prime Minister Datuk Seri Anwar Ibrahim would have a huge impact on Johor’s development.
