60,000 in 3 years. 100,000 by 2023. Affordability in JB.

Looks like great news for Johoreans or ‘new’ Johoreans; those from outside the state who’s going there to find a job or look for a career. Here’s that recent news article in TheStar. Recently, a Johorean good friend says that the properties in Johor Bahru (JB) is getting way too expensive and that not many could afford a new home. She had just moved into a new gated and guarded scheme home, paying very close to RM1 million for it. Hmm… A Seremban good friend says that properties in the Klang Valley are getting way too expensive and that not many could afford a new home! She had just gotten the keys to her close to RM1 million home, also a gated and guarded scheme and I got to know not too long ago that a close friend of mine also bought a unit at the same development! Both were my colleagues. (Perhaps I was underpaid??!! Haha).

Source: iProperty.com.my

Before we get too carried away by all these comments of people who continue to buy and yet kept telling everyone that it’s a gloomy time, my new good friend (yes, I am adding good friends occasionally. Haha.) told me that her sister bought a landed property in JB for less than RM200,000. Okay, it’s not a gated or a guarded home but a landed double-storey terrace for less than RM200,000? A check with two prominent property listings sites revealed that her comments are real.  Look at the image from iProperty.com.my The built-up is definitely much smaller than those of my two friends above but they are both still double-storey terrace houses, right? It’s always a question of demand versus supply in this case. if there are a lot of these units but demand has not grown fast enough, then of course the prices continue to lag versus those which are getting ever more expensive by the day.

Source: propertyguru.com.my

Another image different property listings from different real estate negotiators in propertyguru.com.my  Do search and call them if you need a landed home below RM200,000 yeah.  Note though that the number of listings for these below RM200,000 landed homes are not too many. So, if demand were to increase suddenly, all these would be taken up quite fast. Beyond just these comments from my friends, it seems that even more affordable homes would be built in Johor Bahru. I think this is also in anticipation of even more demand when more people work in Johor Bahru. According to the Johor Menteri Besar Datuk Seri Khaled Nordin, a total of 60,000 homes under the affordable housing scheme would be built by 2020 and another 40,000 units by 2023. He said, “Johor is able to build many of such (affordable) homes compared to other states due to the cooperation between the government and developers in which the houses are subsidised. This is why the state government aims to build an additional 40,000 units by 2023 to make the total of 100,000 affordable homes within the next six years.” He then issued a warning to all those who got themselves an affordable home but are renting them out instead. He warned these people that who rented out their allocations may have their homes seized. Here’s that article in TheStar again. 

I seriously hope this becomes a legislation. People who need a home and needs help to own one should be given priority. Anyone abusing it must be punished sternly. Else, we are only talking and in the end, abuses will continue to happen. Hopefully, Johor would be a state that could copy its next door neighbour in enforcements. All the best yeah. Yes, I am confident that barring any unforeseen circumstances, JB / Iskandar will be successful.

written on 2 Dec 2017

Next suggested article:  JB is right after KL. Homes still too expensive

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