The Iskandar Malaysia property market has moved on from its oversupply issues with some areas seeing prices match Kuala Lumpur City Centre (KLCC) levels.
RHB Research says some properties near RTS Link station at Bukit Chagar are going for between RM1,000-RM1,300 per square foot, similar to properties in the KLCC area.
Not all areas are equal, however, as some completed projects in other areas are being sold at 40 per cent below the initial launching price.
RHB Research says only projects that are strategically located, and commercial properties that are well-managed are popular among property buyers, investors, and tourists.
Currently, there are 11 projects surrounding the RTS Link Station at Bukit Chagar.
It said new catalysts such as the completion of the RTS Link and the influx of foreign and domestic direct investments, will help reduce the number of overhang units and create new demand.
Overhang units in Johor peaked at 7,030 in the fourth quarter of 2020 (4Q20) and reduced to 4,228 in 4Q23.
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