Tag Archives: condos

Condos for Rent Under US$500/month (2,000 MYR)

At current exchange rates US$ 500 is a bit more than MYR 2,000. The Malaysian Ringit has collapsed over the last 3 years. The exchange rate used to be US$1 < 3 MYR (about 3 years ago). Now it is $1 > 4 MYR (and the MYR recently has gained back a bit of the lost ground – it reached a high of almost 4.5 MYR for $1.

Photo of the view from the pool
View of the pool at Sky Executive Suites.

In addition to that factor, the oversupply of higher end condo units has great increased – as we predicted. It was easy to predict given the massive supply that was being built. This has resulted in great bargins for renters. These are some options available now online. Don’t be affraid to bargain, the market is very much in the favor of renters at this time.

This list provides a view of how much is available at the under $500 a month market. And there are many other options as well as many available for not much more that could be bargined down to something similar. It is a renters market in Johor Bahru.

The newest condos have plenty of very small units (under 800 square feet). But as you can see you can get much larger units if you wish for good prices. And you can find many options for rental condos between 2,000 MYR/month and 3,500/month (especially when you realize how much you can bargain down rates. Some units won’t negotiate the rates (and those that have set more reasonable rates have less room to negotiate). If you find something you like that is a bargain for you, be happy with finding a good home.

Related: Property Slowdown in Johor (May 2015)Map Showing Condos in Johor Bahru, Malaysia360 Degree View of Downtown Johor Bahru (2014)

3 bedroom Condo for Rent @ Idaman Residence (Nusajaya) RM 2,200/month

View from balcony
View from balcony of the unit for rent in Idaman Residence.

3 bedroom and 2 bathroom condo for Idaman Residence @Nusa Idaman (Nusajaya) for rent @ RM 2200/month. 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.

Kitchen, Idaman Residence

All of the bedrooms come with a bed (double for master and room 2, single for room 3), wardrobe and computer desk.

Bedroom with view out window, Idaman Residence
one of the bedrooms in the unit for rent

Living area comes with 2 sofas, coffee table, tv cabinet, 4 seat dining table, fridge and washing machine.

view of bathroom
shared bathroom

All rooms include fan and air conditioning. Both bathrooms equipped with water heater system.

The unit includes 1 carpark (additional carpark can be obtained at RM90 a month. For viewing (more photos are also available) please call Gunaseelan +601126977673 or Izwan (owner) +60122538906.

Address: Nusajaya Centre, 8, Persiaran Ledang Heights, Nusajaya, 79250, Johor
Website for the entire development (not just the condo building): www.nusaidaman.com

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).

Skysuites Condos @ Meldrum Hills are Nearing Completion

Skysuites @ Meldrum Hills located next to Cyberport and close to the JB CIQ is nearing completion.

photo of Skysuites @ Meldrum Hills in  Johor Bahru
Skysuites @ Meldrum Hills (completed on the left of the photo). Photo taken from Cyberport by John Hunter.

The 31-story condo building includes 250 condos (1, 2 and 3 bedroom units plus penthouse duplexs) and is near Blue Wave Hotel, Cyberport, City Square Mall, CIQ and the causeway. See our information page on Skysuites Condos @ Meldrum Hills.

photo of Skysuites @ Meldrum Hills with CIQ and the CBD
Skysuites @ Meldrum Hills with CIQ and the CBD.

Current units for purchase, they do seem expensive to me (I think the supply of small luxury units may well be too large in JB) but if the MRT to Singapore is built where it is believed it will be, this will be a very desirable location:

  • RM 1,105,000, 1,105 square feet, 4 bedrooms, 4 bathrooms, Penthouse condo.
  • RM 552,000, 581 square feet, 1 bedroom, 1 bathroom.
  • RM 698,000, 581 square feet, 1 bedroom, 1 bathroom.

Related: Stulang Villa Condos – Rentals from MYR 2,200 to 2,500Orchid View Condos Rentals – 2,500 to 3,000 MYR a month

Malaysian Real Estate Slowdown May be Taking Hold

The moves to cool off the overheated property sector by Malaysia in the last few years were wise (if a bit late). The 6% sales tax was also likely wise. Real estate development tends to get overheated and collapse – taking much wilder swings than other areas of the economy. Reducing those swings is useful but challenging. How the current situation plays out will be interesting and requires government paying attention and taking action to prevent bubbles and excessive speculation, as well as watching for signs the bubble is deflating too quickly.

Malaysia Builders Hit by Tax Amid Worst Slump Since 1998

Malaysian property companies are grappling with higher costs in an industry already reeling from central bank curbs on lending last year and the first interest-rate increase in more than three years in July. Property transactions in 2013 sank the most since the aftermath of the 1997 Asian financial crisis, while home prices in the first quarter rose at the slowest pace since 2010.

Property transactions dropped 11 percent in 2013, according to the National Property Information Centre, the most since a 32 percent slump in 1998, when Malaysia had its first recession in 13 years. The Malaysian House Price Index rose 8 percent in the first three months of 2014, the slowest growth since the third quarter of 2010.

Developers offered 6,339 new units in the first quarter, a drop of almost 50 percent compared with the previous quarter. Only 30 percent of the units were sold.

It is possible the slowdown in real estate development will be too sharp which creates problems. But if that happens the main reason will be the bubble was allowed to build too quickly. And there is also the possibility the slowdown will not be quick enough (the bubble will keep growing); this seems less likely.

Luxury condos in Johor Bahru seem the most bubbly of all areas in Malaysia. It seems like Kuala Lumpor and Penang are also in danger of too must leverage and speculation. The moves to reduce that leverage, speculation and bubbly markets are good. We will see how the market develops the rest of this year and next year.

Related: Singapore Market Impacts on the Johor Bahru Real Estate MarketSingapore and Iskandar MalaysiaPenang’s Economic GainsIskandar Housing Real Estate Investment ConsiderationsJohor Bahru Restaurant ReviewsSingapore Taxes Increase In Attempt to Cool Condo Prices

360 Degree View of Downtown Johor Bahru in 2014

Here is a webcast showing a 360 degree view of downtown Johor Bahru in 2014. You can see the sky scrapers in the central business district (CBD) of Johor Bahru and Iskandar and in 5 years this will show many more high rise luxury condos. The beginnings of numerous (more than the total completed high rises) are visible in the video.

The CIQ, the causeway to Singapore, the Straits and Singapore beyond are visible. Even Singapore’s Marina Bay Sands, located at the far southern edge of Singapore, can be seen in the background.

Related: Setia Sky 88 Construction Progressing QuicklyIndah Samudra Condo Rentals: 2,800 to 3,500Johor Bahru Old Chinese Temple in CBDD’esplanade Residence @ KSL Mall

Singapore Sprawl Fueled by Cheap Housing Resulting in Long Delays at Border

As I have written previously the potential for Johor Bahru, Malaysia is great. The proximity to Singapore give JB the extra boost that moves the potential above that of dozens of similar locations throughout South East Asia. But potential has to be managed properly or it is wasted. The inability of Singapore and Malaysia to cope with the demand for cross border traffic has to be a huge concern for investors.

The backups have become progressively worse throughout the last year and especially bad the last few months. As I have also written previously the massive supply of luxury housing in JB without a visible source of equally high paying jobs in Johor that will allow people to afford those houses is a worrisome sign.

The failure to complete a 3rd link by last year and the huge delays experienced all this year create strong headwinds for realizing the potential of Iskandar. Obviously cross border transportation was going to be bad before the MRT was finally extended given the huge volume of luxury condos being build in JB. But things are tremendously bad already when only a few of the new luxury condos are completed.

The potential is still great but the huge problems with the borders already calls into question the ability to plan, execute and grow to meet that potential. More high paying jobs need to be created in Johor Bahru itself. I don’t see how the number of luxury condos being built will be workable in the next few years. 10 years from now all may be well, but from 2015 to 2018 (or whenever the border gets fixed so the median border delay is under 15 minutes, likely the extension of the MRT to JB will have to play a role in fixing the problem) I see big risks countering the big potential.

Johor Bahru street with KSL in the background
Houses on Johor Bahru street with KSL in the background (D’esplanade Residence @ KSL, KSL mall, KSL hotel and more condos are being build across the street).

People are willing to envision themselves putting up with huge commutes. but as they live with them year after year and miss their children, spouses and lives sitting at a border waiting to move forward many will decide it isn’t worth it.

Cut-Price Luxury Homes Fuel Singapore-Johor Bahru Sprawl

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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)

Pangsapuri Sri Samudera, Seaview Residence Suites Rentals MYR 2,000 to 3,000

The second tower for next to the Pangsapuri Sri Samudera, Seaview Residence Suites is nearing completion. Current rental options for the existing tower run from MYR 1,700 to 2,500+ per month.

photo of great view from Sri Samudera
Great view of the straits, clock tower and Thistle Hotel (looking west)

The Sri Samudera is in the neighborhood of the Thistle hotel and Indah Samudra Condos. It offers great views for a few units, but the units looking north seem like they are going to be looking directly into the second tower which is very close.

See our overview of the Sri Samudera Condo. Units available now include:

Given the overall market the prices seem a bit high to me; maybe the demand from hospital workers is high enough to justify the prices. The more expensive units are also much more likely to be shown online (the less expensive units are often not put online – low level, not updated, etc.).

Related: Aster Court Condos: Rent 1,800 to 2,200 MYR per monthIndah Samudra Condo Rentals: 2,800 to 3,500Danga View and Adamai Condos: RM 2,000 to RM 4,000 per month


View Pangsapuri Sri Samudera in a larger map