Tag Archives: rental condo

Property Slowdown in Johor

It was pretty easy to see the glut in residential property in Johor being created over the last few years, and I wrote about several times: The Potential of Iskandar is Very High but Investing in Iskandar has RisksIskandar Housing Real Estate Investment Considerations (2011), Singapore Sprawl Fueled by Cheap Housing Resulting in Long Delays at Border (2014), Malaysian Real Estate Slowdown May be Taking Hold (2014).

View of Downtown Johor Bahru looking away from Singapore

Downtown Johor Bahru with Danga City Mall (includes map) on the left (looking North-West).

The long term prospects for Johor remain strong. Building on the advantages of being a suburb of Singapore has huge potential. Managing that advantage should provide huge long term benefits. Still in the residential building boom seems overdone and not balanced with brining in enough high paying jobs or improved transportation to jobs in Singapore.

UEM Sunrise shifts focus away from Johor due to glut in the state

Iskandar Malaysia’s biggest property developer UEM Sunrise Bhd will focus on Peninsular Malaysia’s central region, as Johor faces a property glut and slowdown.

Managing director Anwar Syahrin Abdul Ajib said the company would be shifting focus to the central and northern regions as well as overseas.

“Right now, it’s a bit slow. There’s nothing to hide … everybody is feeling it. Some developers have already cut their forecasts, some are saying growth is stagnant while some say they’re going to do better than others last year,” he said.

Anwar is targeting a lower sales of RM2bil this year compared with RM2.4bil last year as buyers are also finding it hard to secure loans from banks.

“To tell you the truth, there are a lot of people who want to buy and we have a lot of bookings but they can’t get loans, so this is something that’s in the way.

“We need to find a solution and talk to financial institutions and see whether they need to relax a bit in terms of letting people be able to purchase houses for investment purposes,” he explained.

Malaysia should not relax lending standards. Property booms are followed by busts. Booms are most often triggered by huge investor demand made possible by lax lending standards. It is poor economic policy to stoke investor demand in real estate. This is a critical mistake when the rental market is weak, as it is in Johor. The luxury housing market is not supported by jobs in Johor.

The only hope for filling the luxury housing are getting those with high paying jobs in Singapore and retires from Singapore and elsewhere to move in (which has been happening but not nearly at the rate of production of new units). And given the long delays in addressing the transportation problems until the MRT is extended it is hard to see much more room for increased commuting. Once the MRT is complete the Johor market should boom.

Property development creates lots of economic value that can provide large rewards to those in power. When that pressure leads to stoking the fires of a boom the consequences will be felt in the economy very sharply once a bust develops. Johor needs to focus on attracting more high paying jobs and quickly improving transportation issues. Johor should be discouraging more luxury housing development at this time, not encouraging it – but it is hard to put long term economic prosperity above quick, short term cash. Few countries have done that well. Singapore is one that has and the future of Johor is tied to the success Singapore brings with that focus and how well Johor can show the same discipline Singapore has shown for nearly 50 years.

Map Showing Condos in Johor Bahru, Malaysia

See our new maps showing the condos in Johor Bahru:

See full screen

Each condo on the map links to our information page for that condo. (click the icon next to the name to view the popup details with the link to the page).

If you will be traveling around JB looking at condos you might want to bookmark our main JB condo page or the direct page for the map. That way you can easily refer back to it as you need to.

We do also show the major housing estate areas in JB and Iskandar (if you zoom out on the map a bit).

Horizon Residence and Sky Loft Suites Rentals In Bukit Indah

New condos keep being delivered to the Johor Bahru market and this will be continue for the next few years. The supply seems to be swamping the demand for luxury condos.

In Bukit Indah, Sky Executive Suiteswere delivered earlier this year and many units seem to still be looking for tenants.

If you are looking to rent you should be able to find good deals if you bargain (prices are set too high given the huge vacancy rate, in my opinion, they seem priced based on every increasing sales prices not based on the rental market). It sure seems the market is just has far too many vacancies to justify increasing rents; and is going to get worse for those seeking to rent out their luxury condos.

Horizon Residence and Sky Loft Suites are two new condos delivered in the Bukit Indah area. The Bukit Indah area actually has some quite nice things going for it (great good options for one and a convenient mall and Jusco – though the service at Jusco has been terrible when I have gone there, enormous wait times to check out).

Horizon Residence condo rentals available now (which seem more realistically priced in my opinion). 5 minutes walking distance to CW3 (bus to Singapore) pickup point.

Sky Loft Suites condo rentals available now. Next to AEON Jusco mall and walk to bus station to Singapore via Tuas link.

  • RM 3,000 per month, 1,214 square feet, 3 bedrooms, 2 bathrooms, high floor, partially furnished (for fully furnished add 500 to 800 RM a month).
  • RM 3,500 per month, 1,214 square feet, 2+1 bedrooms, 2 bathrooms, high floor, partially furnished (for fully furnished add 500 to 800 RM a month).
  • RM 2,500 per month, 833 square feet, 1+1 bedrooms, 1 bathrooms, high floor, unfurnished.

Related: Indah Samudra Condo Rentals: 2,800 – 3,500 RMStraits View Condo, Permas JayaHorizon Hills Housing Estate

Stulang Villa Condos – Rentals from MYR 2,200 to 2,500

Stulang Villa Condos offer large units in a small building near the Cyberport building (walkable to CIQ, though a long walk). It is an older building close to downtown but in a residential area.

exterior view of Stulang Villa Condo building

Exterior view of the condo building, see more photos.

Given the small size finding units available online may not be easy. Though will all the new condo units going online recently and soon it would not surprise me to see more vacancies here so more chance of finding units available.

See our overview of the Stulang Villa Condos. I personally think the rates are a bit high and would try and negotiate a better rate, they are large units so maybe the rate is reasonable. Units available now include:

These condos don’t have a pool or such amenities that larger condos offer.

Related: Aster Court Condos: Rent 1,800 to 2,200Orchid View Condos Rentals (2,500 to 3,000 MYR)Wadihana Condo (RM 2,000 to RM 2,500)

Sky Executive Suites @ Bukit Indah, 2,300 to 4,500+ MYR a Month

The Sky Executive Suites @ Bukit Indah, by Setia, is also known as The Sky. Two 25-story towers hold 364 units with built-up areas ranging from 751 – 2,778 square feet.

Poolside at Sky Executive Suites

Poolside at Sky Executive Suites

In my opinion the pool is the best part of the project. The units are ok but the pool is amazing. The location is actually pretty good too – there are quite a few shops surrounding the area (and with a Giant and Tesco right across the street).

Rents range from 2,300 MYR/month to 4,500 MYR/month (for 820 to 1,500 square feet). Purchase prices range from 800,000 to 900,000 MYR (for 1,516 square feet which is about 600 MYR per square foot).

Current listings offer rentals:

  • MYR 4,500/month – 3 + 1 bedrooms, 4 bathroom, 1,500 square feet, high floor, corner unit, looking South.
  • MYR 3,500/month – 2 + 1 bedrooms, 3 bathroom, 1,168 square feet, unfurnished.
  • MYR 2,300/month – 1 + 1 bedrooms, 1 bathroom, 820 square feet, unfurnished.

Sky Executive Suites @ Bukit Indah opened to tenants last year and there are still many units available. The location is quite nice, but it does seem to me the price of the units tends to a bit higher than the market (room to negotiate, especially with so many units available). See more details on our Setia Sky Executive Suites information page.

Aster Court Condos: Rent 1,800 to 2,200 MYR per month

Aster Court condos offer a good location and good prices. They sit on top of a few shops but unfortunately the shops are not very busy and some are not rented. But the location is quite close to KSL Mall, Plaza Pelangi (and all the good food near there), Hotel New York etc.. It is also very close to where Setia Sky 88 and Twin Galaxy are under construction.

photo of Aster Court condos

Aster Court condos in Johor Bahru by John.

The condo has a pool and security but has a bit less in the way of amenities than most other condos considered by expats.

Current rental options include:

  • 1,150 square feet, 2 bedrooms, 2 bathrooms, fully furnished, RM 2,000
  • 890 square feet, 2 bedrooms, 2 bathrooms, fully furnished, RM 1,800
  • 1,050 square feet, 2 bedrooms, 2 bathrooms, fully furnished, RM 2,100
  • 1,000 square feet, 2 bedrooms, 2 bathrooms, fully furnished, RM 2,180

Aster Court condos are listed for sale at around 500,000 MYR.

See our overview of Aster Court condos.

As always, expats should remember most agents in Johor Bahru merely show you properties they (or their company sometimes) have been paid by the owners to show. Seeing multiple units, even at the same condo, often requires appointments with multiple agents.

Other condos in downtown JB: Orchid View Condos Rentals – 2,500 to 3,000 MYR a monthD’esplanade Residence @ KSL MallWadihana Condo: RM 2,000 to RM 2,500 per month

Indah Samudra Condo Rentals: 2,800 – 3,500

See our overview page for the Indah Samudra Condominium; it is located right next to the Thistle Hotel.

photo of Indah Samudra Condo and Thistle Hotel

Available rental options right now, include:

Related: Indah Samudra and Lagenda Tasek Condos for Rent: RM 2,000 – RM 3,500/monthDatin Halima and Sri Mulia Condos from RM 1,600 – RM 3,000 per MonthSky Executive Suites @ Bukit Indah, Rent 2,000 to 4,500 MYR a Month

Orchid View Condos Rentals – 2,500 to 3,000 MYR a month

Orchid View Condominium is walking distance to CIQ (but it is very awkward to walk as the area was not designed with walking in mind), right next to downtown JB. It is pretty crazy to have designed the area to be so difficult to walk in given it is right downtown next to CIQ – this is exactly where designing a walkable city is most important. The situation at Orchid View shows that there is much more work needed to improve the urban design of downtown JB. See our overview of the Orchid View Condos.

photo of Orchid View Condominium

Orchid View Condo, Johor Bahru

The condo offers typical features of the 24 hour gated and guarded condos in Johor Bahru: covered parking, gymnasium, jogging track, playground and swimming pool.

Current listings:

  • 2,800 MYR per month; 1,500 square feet; 3+1 bedrooms, 3 bathrooms, fully furnished, corner unit.
  • 3,000 MYR per month; 1,500 square feet; 3+1 bedrooms, 3 bathrooms, fully furnished, corner unit.
  • 3,000 MYR per month; 1,500 square feet; 3+1 bedrooms, 3 bathrooms, fully furnished, corner unit, facing South (to Singapore).
  • 2,500 MYR per month; 1,500 square feet; 2? bedrooms (I think the listing has this wrong, but maybe it is right), fully furnished, corner unit.
  • 2,500 MYR per month; 1,500 square feet; 3+1 bedrooms, 3 bathrooms, unfurnished, corner unit.

I would expect you can bargin down the price a bit, there is a surplus of condo rental units in JB. Remember many units are never even listed online.

Related: Wadihana Condo Rentals: RM 2,000 to RM 2,500 per monthStraits View Condos Rentals RM 2,500/m to RM 4,000/monthSky Executive Suites @ Bukit Indah, Rent 2,000 to 4,500 MYR a Month

Sky Executive Suites @ Bukit Indah, Rent 2,000 to 4,500 MYR a Month

The Sky Executive Suites @ Bukit Indah, by Setia, is also known as The Sky. Two 25-story towers hold 364 units with built-up areas ranging from 751 – 2,778 square feet.

Rents range from 2,000 MYR/month to 4,500 MYR/month. Purchase prices range from 450,000 to 800,000 MYR (for 1,516 square feet which is about 500 MYR per square foot).

Current listings offer rentals for delivery approximately March to May 2013:

Or you can rent one of the penthouses (south facing) for 8,000 MYR per month which offers: 4 + 1 bedrooms, 5 bathrooms in 2,778 square feet.

Walking distance to Tesco, Giant and Jusco. Hotels nearby include Pariss Hotel, Euro Rich Hotel and Granada Hotel. Approximately 20 minutes to JB city center.

Facilities at The Sky include gated access with 24 hour guards, swimming pool with wading pool, barbecue area, covered parking, gymnasium, jacuzzi, tennis court, sauna and nursery.

View Larger Map
Address: 15 Jalan Indah, Bukit Indah, Johor Bahru, Johor, 81200

What is a Reasonable Expectation for Service?

Moving to a new country offers many things you have to figure out and get used to. Really the idea of exotic locals is largely outdated. Most things are basically the same everywhere. It is the details that get a bit tricky.

I knew this so paid extra for my rental with the expectation that the extra payment meant I got the higher level of service expats expected. This made sense to me. It sure seems like I get as bad a service as could possibly be tolerated. I can’t imagine there is a level lower than this.

I don’t know if I am just being taken advantage of by my agent. Or if this is just the state of “customer service.” The condo had many issues to be addressed (it was known it had issues and hadn’t been rented out for years). I said I would go to Thailand for 2 weeks and return when we agreed the items would be taken care of. I returned, nothing had been done.

Numerous follow ups by me were required to get the minimum to finally be done to let me move in. The entire time I have had to ask 3-6 times for things to be done. Repeated request for status always failed to get a response.

People would not show up when they were suppose to, to fix stuff, again I had to manage this as the agent was missing in action. If people didn’t show up at all again the agent was missing in action and I had to tell him. This has repeated for everything. No matter what, I have to ask multiple times (actually there were maybe 3 times when I didn’t have to do so, but by and large I have had to).

Two of the ACs didn’t work (remember the house was not used for years prior). The one in my bedroom I got fixed. Another one I only tested and it seemed to blow out cold air so I went on. A few months later I started using that room and the AC doesn’t work (probably the freon is out – but maybe it is just broken). So it never worked, and they said I can pay to fix the AC that never worked in this unit they assured me was more expensive because they would provide good service and assure things were at an “expat level.” Again this seems like they are just either taking advantage of me of have a very poor standard of service but maybe my expectations are wrong.

The fridge has never been good, but I didn’t care that much. Now the ancient fridge died, ruining all my food. I told the agent. They said he would arrange for someone to fix it. So I cancelled my plans for the day and skipped lunch as I couldn’t leave… Noone came. After lunch I left a message asking what was going on. Still today, no response. As typical, failure of expected functions followed by requiring multiple contact by me. Lousy communication provided by agent. Leaving me stranded with no one showing up. Leaving me stranded without functioning equipment.

Is this just lousy service and response. Or is this typical?

Should I just go buy a new fridge and deduct that from my next rent payment?

I did know I was taking a risk believing the claims of the agent that they would provide good service. They seemed capable and seemed to have a business based upon service clients that would expect good service (so had a reason to build a business that provided it). And I was really tired and just wanted to be through looking for a place (I probably was a fool to just give in, but I did it so I have to live with it).