KULAI: The development of the Johor-Singapore Special Economic Zone (SEZ), which is expected to be finalised in September, has helped to boost the sale of properties in Johor, says state executive councillor Datuk Mohd Jafni Md Shukor.
The Johor housing and local government committee chairman said the demand for properties in Johor, including service apartments, has been rising steadily since last year.
“The property overhang issue in Johor is mainly on service apartments priced at RM600,000 and above. We do not have such a problem for other categories of houses.
“Following the announcement of the SEZ, we have been seeing a rising demand for properties.
“In fact, I was informed that some developers have also been able to sell out all of their properties that they were not able to sell previously,” he said.
He said this at a press conference after presenting aid to students enrolling in higher learning institutes at Dewan Raya Kampung Melayu here in Kulai.
He added that since last year, about 2,000 units of the unsold service apartment units had been snapped by property buyers.
“Currently, there are about 11,000 unsold service apartment units in Johor. This is a significant drop from about 13,000 earlier last year,” he said.
Mohd Jafni added that the move to ease the conditions of the Malaysia My Second Home (MM2H) programme last year has also helped to reduce the property overhang problem.
More to come
