Iproperty.Com.My 2020 Portal Demand Analytics

iProperty.com.my 2020 Portal Demand Analytics

An analysis of subsale residential property demand using iProperty.com.my’s user visits and subsale residential property listings data in Malaysia. iProperty.com.my 2020 Portal Demand Analytics - Subsale

Premendran Pathmanathan General Manager – Customer Data Solutions, REA Group Asia

Prem currently leads the data business in iProperty.com.my and together with his data team has produced property data analysis tools for property buyers and sellers, agents and developers. He provides regular talks on the Malaysia property market by demonstrating how to find value in property data. He is also the founder of brickz.my, a business that helped build a healthier property market in Malaysia by creating awareness on property prices.

Foreword As Malaysia's No.1 property site, iProperty.com.my garners millions of visits each month. These real-time behaviours indicate where Malaysia’s subsale residential property demand (represented by user visits to the site) is, in comparison to property supply (represented by subsale residential property listings on the site).

The iProperty.com.my Portal Demand Analytics aims to provide a macro view of current demand trends in the Malaysian residential market at a national level and for the top states based on user visits and property listing data on iProperty.com.my.

In this publication, we analyse the visits to our listings for the complete year of 2020 to identify the demand growth trends in comparison to 2019.

Growth in demand (indicated by an increase in user visits and/or a decrease in number of listings) is favourable from a selling standpoint. It means either more potential buyers coming into the market or less competition among current property sellers. On the flip side, a decrease in demand would benefit buyers, shifting the market in their favour.

The demand data presented in this publication is a representation of consumer sentiments. Some searches might have been for research purposes only while others represent a genuine interest to buy properties in specific areas.

De�initions

Unique Visit : Based on Google Analytics tracking of unique visitors, where multiple visits by one visitor are counted as one unique visit

Active Property Listing : Property listings on iProperty.com.my that were active for at least one day and had a minimum of 1 view. The property listings on iProperty.com.my are refreshed every day to provide current and active listings to property seekers

Property Demand : The number of unique visits over the number of active property listings

Organic / Direct Traffic : Based on Google Analytics tracking, organic and direct traffic are not obtained through paid services or other sites

How was this calculated?

Total # of unique visits Demand = Total # of active property listings

2020 Demand – 2019 Demand YoY Demand % Change = 2019 Demand

Median PSF in H1 2020 – Median PSF in H1 2019 Capital Growth = Median PSF in H1 2019

Price , for high rise Build up size PSF = Price , for landed properties Land area

Considerations

• Only areas that have more than 350 listings were selected to negate the effect of any spikes. • Unique visits were used to prevent a single user from distorting the demand figures through multiple visits. • In the case where a single user visits multiple areas, the visit is equally weighted across the various areas and building types to maintain the uniqueness of the user. • All visits used in this publication are based on organic and direct traffic only. • Pricing is calculated for areas that have had at least ten property transactions within one year. • Median Per Square Foot (PSF) is used to calculate capital growth due to various built-up sizes being transacted.

Data sources

Data Type Source Review Period

Median Price and Capital Growth Brickz.my/JPPH January to June 2020

Property Demand iProperty.com.my January to December 2020

Note: The data system from JPPH officially records a property transaction once the stamp duty for the Sales and Purchase Agreement is paid. Analytics is based on the data available at the date of publication and as the more recent data from JPPH has not been released yet, the median price and capital growth figures are as of June 2020.

National Overview

National Demand for Subsale The COVID-19 outbreak has thrown a wrench in Malaysia’s economic gears in 2020. The housing market was not an exception Homes in 2020 improves to to facing a slowdown, as many prioritise necessities over big ticket -1.3% from -2.5% in H1 2020 items such a property.

User visits to iProperty.com.my were at its lowest figure in April 2020, just after the Movement Control Order (MCO) was imposed. Nevertheless, we saw property demand in Q2 recovering when the restrictions were relaxed. Thus, by the end of June, the national demand for subsale homes experienced only a slight decrease of -2.5%. This has since improved further to -1.3% by the end of 2020.

On top of that, by December 2020, unique visits for subsale property listings saw an upward recovery of +85%.

In November 2020, the country’s unemployment rate dropped to 4.8%. Even though this figure is still higher than the typical unemployment rate in Malaysia, it is indeed an improvement after reaching a crescendo in May at 5.3%

Although the current property market outlook is somewhat bleak in line with the ongoing economic slump, we have not seen a huge crash in the market. This is mainly due to the support provided by the government in the form of easy financing – the Overnight Policy Rate (OPR) rate was progressively reduced four times in 2020 to its current 1.75%, which is the lowest value in over 15 years. We can expect a further reduction to the OPR in Q1 2021 by Bank Negara Malaysia to cushion the impact of MCO that was recently reimposed on 13 January 2021.

Aside from helping to ease loan repayment, this has sparked interest in property purchases especially among middle- and upper-class households.

Home loan applications improve in line with user visits

In the H1 2020 Portal Demand Analytics, we observed that user visits improved during the RMCO phase and that could be due to the pent-up demand as a result of restrictions during the March to May 2020 stricter MCO. This growth appears to have carried its momentum in H2 2020, albeit with several small dips.

The chart below compares user visits to iProperty.com.my with the value of home loans applied by Malaysian consumers (as provided by Bank Negara Malaysia's (BNM) Monthly Highlights and Statistics in November 2020). As we can see, the increase in property demand as indicated by iProperty.com.my visits and its subsequent trendline is somewhat aligned to the follow-through action of these visitors indicated by home loan applications. This indicates a genuine interest in property purchase by those hunting for properties online.

Unique Visitors and Home Loans Applied Jan 18 Feb 18 Mar 18 Apr 18 May 18 Jun 18 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Jan 19 Feb 19 Mar 19 Apr 19 May 19 Jun 19 Jul 19 Aug 19 Sep 19 Oct 19 Nov 19 Dec 19 Jan 10 Feb 20 Mar 20 Apr 20 May 20 Jun 20 Jul 20 Aug 20 Sep 20 Oct 20 Nov 20 Dec 20

Value of home loan applications Volume of user visits to iProperty.com.my

As a side note, we have seen a reduction in user visits for lower-priced properties. And even though home loan applications have spiked, we do not see many of them being approved. The home loan approval rate in Malaysia reached its lowest point in May at 25% and as of November, it stood at 39%. Comparatively, the approval rate was at 44% in January 2020.

A lower OPR may have given access to cheaper financing, but on the flip side, bank margins are also being squeezed. Coupled with the weak employment landscape, banks have adopted a more cautious lending attitude, leading them to be pickier with loan applicants.

National Demand 1.3% of all property Year-on-Year

Terrace House Condominium Apartment Service Residence

0.4% 6.8% 2.1% 7.9% Year-on-Year Year-on-Year Year-on-Year Year-on-Year

Median Price Median Price Median Price Median Price RM280,000 RM490,000 RM250,000 RM490,000

PSF RM182 PSF RM408 PSF RM294 PSF RM589

2.6% 1.4% 0.9% 2.0% Capital Growth Capital Growth Capital Growth Capital Growth

National demand includes the following property types: terrace houses, semi-Ds, bungalows, cluster homes, townhouses, condominiums, serviced residences, ﬂats and apartments.

The national demand for subsale properties in 2020 fell by -1.3% YoY. The demand for high-rise properties is down in tandem with prices while the demand for terrace houses remained positive with capital growth of +2.6%.

Year-on-Year demand by capital city

Alor Setar -31.0% Kota Kinabalu -8.3% George Town -11.9%

Ipoh -3.7% Kuantan -7.7% Petaling Jaya -5.9%

Shah Alam Johor Bahru 1.7% -22.0% KL City Centre -8.9%

Kuching Seremban 0.9% -7.2% Melaka City -40.4%

Major cities in Malaysia

Location Demand Pricing

Year-on-Year % Change Median Price PSF Capital Growth

SHAH ALAM 1.7% RM417,500 RM337 3.5%

SEREMBAN 0.9% RM230,000 RM150 10.6%

IPOH 3.7% RM200,000 RM142 0.0%

PETALING JAYA 5.9% RM760,000 RM445 5.1%

KUCHING 7.2% RM380,000 RM162 10.6%

KUANTAN 7.7% RM292,500 RM171 0.0%

KOTA KINABALU 8.3% RM420,000 RM298 0.9%

KL CITY CENTRE 8.9% RM610,000 RM712 11.0%

GEORGE TOWN 11.9% RM274,000 RM387 8.7%

JOHOR BAHRU 22.0% RM412,500 RM292 0.8%

ALOR SETAR 31.0% RM280,000 RM142 0.0%

MELAKA CITY 40.4% RM220,000 RM212 3.8%

*Kota Bharu, Kuala Terengganu and Kangar are not included in the list as these cities have less than 350 listings each (refer to Considerations on Page 2)

Among the major cities in Malaysia, only Shah Alam and Seremban recorded positive demands in 2020. Prices for KL City Centre (KLCC) and George Town declined while the capital growth figures recorded a significant drop.

Kuala Lumpur

KL loses out on Kuala Lumpur continues to record negative demand due to outward migration. There is a trend of moving to Selangor that has been taking place for years. outward migration Interest in suburban areas has been growing steadily as people seek space and solitude. And now with the work from home trend becoming the new norm, many people have opted to return to their hometowns, leaving behind a lacklustre KL property market.

Demand 1.3% Year-on-Year

All building types RM520,000 Median Price RM432 0% PSF Capital Growth

Terrace House Condominium Apartment Service Residence

3.0% 5.7% 4.7% 4.1% Year-on-Year Year-on-Year Year-on-Year Year-on-Year

Median Price Median Price Median Price Median Price RM700,000 RM582,500 RM300,000 RM600,000

RM479 0.2% RM453 1.1% RM336 1.5% RM682 1.5% PSF Capital Growth PSF Capital Growth PSF Capital Growth PSF Capital Growth

Property demand for Kuala Lumpur dropped by -1.3% in 2020. User visits for apartments and flats also declined, as one of the groups hardest hit during the COVID-19 pandemic is the B40.

Top 20 Most in-Demand Areas in Kuala Lumpur

All property types

1. BATU CAVES 11. SUNGAI BESI 2. DAMANSARA HEIGHTS 12. PUCHONG 3. TAMAN TUN DR ISMAIL 13. SENTUL 4. TAMAN DESA 14. SUNWAY SPK 5. SETIAWANGSA 15. DESA PARKCITY 6. BANGSAR 16. BRICKFIELDS 7. PANTAI 17. JINJANG 8. SEPUTEH 18. WANGSA MAJU 9. TITIWANGSA 19. BUKIT JALIL 10. SRI HARTAMAS 20. KUCHAI LAMA

Batu Caves tops the chart as the most in-demand area in Kuala Lumpur. User visits increased to more than double in 2020 for the flat segment. Many of these users viewed properties priced at around RM150k.

Setiawangsa is another notable area on the list at fifth place. Many of its visitors were looking at properties priced between RM200k to RM300k.

Area Breakdown

Location Demand Pricing

Year-on-Year % Change Median Price PSF Capital Growth

OLD KLANG ROAD 81.5% RM541,500 RM388 4.3%

JALAN KUCHING 16.2% RM395,000 RM331 3.5%

JINJANG 13.7% RM315,000 RM320 8.2%

SALAK SOUTH 11.9% RM535,000 RM478 12.6%

SUNGAI BESI 11.0% RM545,000 RM505 2.0%

BANDAR MENJALARA 9.6% RM444,000 RM461 4.0%

BANGSAR 8.6% RM1,370,000 RM804 7.9%

BATU CAVES 8.4% RM445,000 RM363 1.7%

SRI HARTAMS 8.1% RM1,255,000 RM713 4.4%

SEPUTEH 5.3% RM1,700,000 RM434 39.4

SETAPAK 5.2% RM420,000 RM356 3.8%

TAMAN DESA 4.1% RM582,500 RM484 11.2%

SETIAWANGSA 2.6% RM180,000 RM328 3.5%

DUTAMAS 2.3% RM575,000 RM413 4.7%

DAMANSARA HEIGHTS 1.4% RM3,650,000 RM781 2.1%

MONT KIARA 1.4% RM1,000,000 RM625 1.5%

PANTAI 1.5% RM402,500 RM378 0.1%

DESA PETALING 1.5% RM1,901,500 RM822 4.0%

TITIWANGSA 2.8% RM560,000 RM531 8.1%

KL SENTRAL 3.0% RM1,100,000 RM725 12.9%

TAMAN TUN DR ISMAIL 3.4% RM1,310,000 RM686 10.8%

KEPONG 4.3% RM600,000 RM379 7.9%

AMPANG 5.4% RM750,000 RM601 5.8%

BRICKFIELDS 5.5% RM620,000 RM543 25.2%

SRI PETALING 5.9% RM420,000 RM395 8.0%

SEGAMBUT 6.4% RM580,000 RM427 9.2%

KL CITY CENTRE 8.9% RM610,000 RM712 11.0%

KUCHAI LAMA 9.2% RM390,000 RM361 9.7%

JALAN IPOH 9.6% RM450,000 RM379 6.4%

BUKIT JALIL 10.2% RM499,000 RM438 1.4%

WANGSA MAJU 12.0% RM435,000 RM391 2.3%

SENTUL 12.0% RM350,000 RM347 1.7%

CHERAS 13.1% RM370,000 RM332 0.7%

SUNWAY SPK 14.5% RM1,280,000 RM535 32.8%

PUCHONG 18.3% RM487,500 RM450 12.7%

DESA PARKCITY 19.0% RM1,850,000 RM1,123 1.0%

DESA PANDAN 21.4% RM355,000 RM375 7.2%

KERAMAT 22.3% RM1,000,000 RM528 12.0%

BANDAR TASIK SELATAN 25.9% RM335,000 RM379 9.8%

Old Klang Road recorded an increase in demand by +81.5% due to listings being halved in 2020. Also, visits for the high-rise segments of Old Klang Road dropped while visits for terrace houses increased marginally. Old Klang Road became the biggest growth area in Kuala Lumpur after half of its listings dropped off during the review period.

On the other hand, Bandar Menjalara, which borders the affluent Desa ParkCity but with a starkly different property pricing, recorded a +9.6% growth in demand. This was mainly fuelled by an interest in serviced residences priced below RM500k.

Selangor

Selangor continues to Unsurprisingly, Selangor, particularly its suburban areas have benefited the most from the population outflow brought about by the pandemic. These be the biggest winner residential suburbs offer larger properties with better value for money and have seen some of the fastest growth in demand.

As with H1 2020, Selangor continues to be the only major state to record a positive demand of +3.2% while capital growth dropped marginally by -0.2%.

Demand 3.2% Year-on-Year

All building types RM385,000 Median Price RM306 0.2% PSF Capital Growth

Terrace House Condominium Apartment Service Residence

4.3% 1.2% 4.6% 11.1% Year-on-Year Year-on-Year Year-on-Year Year-on-Year

Median Price Median Price Median Price Median Price RM470,000 RM425,500 RM250,000 RM450,000

RM328 1.0% RM377 0.5% RM284 3.2% RM547 0% PSF Capital Growth PSF Capital Growth PSF Capital Growth PSF Capital Growth

Apartment prices have declined by -3.2% in tandem with overall user visits and listings. Supply of flats has shrunk as well, as the lower-income groups that form the bulk of buyers of this type of property are deferring their property searches, turning their attention to daily necessities instead.

Top 20 most in-Demand Areas in Selangor

All property types

1. PUNCAK ALAM 11. SERENDAH 2. DENGKIL 12. DAMANSARA PERDANA 3. SEMENYIH 13. SEPANG 4. CYBERJAYA 14. MUTIARA DAMANSARA 5. KUALA SELANGOR 15. BANGI 6. GOMBAK 16. BANTING 7. GLENMARIE 17. SUNWAY 8. ULU LANGAT 18. ARA DAMANSARA 9. SETIA ALAM 19. PETALING JAYA 10. TELUK PANGLIMA GARANG 20. SUNGAI BULOH

Suburban districts top the list for the most in-demand areas in Selangor. Despite the limited number of listings in these areas, there is a strong following for these listings.

Puncak Alam has claimed the No.1 spot with a huge chunk of its audience looking for a family-sized terrace home between 1,250 sq ft to 2,000 sq ft in size and carrying RM300k to RM400k price tags.

Area Breakdown

Location Demand Pricing

Year-on-Year % Change Median Price PSF Capital Growth

SERENDAH 35.5% RM151,500 RM131 6.8%

PUNCAK ALAM 27.3% RM257,500 RM264 6.4%

ULU KELANG 23.6% RM400,000 RM347 0.4%

PORT KLANG 22.3% RM112,000 RM128 20.0%

KEPONG 18.5% RM289,500 RM278 0.8%

SETIA ALAM 18.1% RM650,000 RM407 5.2%

TROPICANA 17.7% RM767,950 RM565 6.3%

KUALA SELANGOR 17.6% RM180,000 RM134 7.2%

SELAYANG 16.2% RM450,000 RM363 4.0%

AMPANG 14.2% RM312,500 RM310 6.8%

MUTIARA DAMANSARA 11.1% RM1,136,500 RM749 3.2%

SUNGAI LONG 8.1% RM550,000 RM417 6.5%

PUCHONG 7.1% RM424,000 RM354 1.0%

BANDAR KINRARA 7.0% RM663,000 RM418 17.4%

RAWANG 6.7% RM280,000 RM214 9.8%

KOTA DAMANSARA 5.8% RM656,000 RM483 4.0%

DAMANSARA DAMAI 5.4% RM230,000 RM329 1.4%

BANDAR SRI DAMANSARA 4.3% RM520,000 RM444 9.2%

DAMANSARA PERDANA 4.2% RM497,500 RM448 5.8%

SEMENYIH 4.0% RM499,000 RM301 0.2%

KAJANG 2.3% RM392,500 RM281 0.0%

SHAH ALAM 1.7% RM417,500 RM337 3.5%

ARA DAMANSARA 1.4% RM868,500 RM584 2.3%

SUBANG JAYA 1.3% RM630,000 RM418 2.6%

SERI KEMBANGAN 1.2% RM390,000 RM306 0.5%

BANGI 1.2% RM330,000 RM279 0.0%

SUNGAI BULOH 1.0% RM350,000 RM322 3.2%

ULU LANGAT 0.3% RM450,000 RM310 0.6%

BATU CAVES 0.3% RM400,000 RM455 2.6%

CYBERJAYA 1.5% RM461,000 RM476 7.9%

CHERAS 2.4% RM430,000 RM335 2.6%

SAUJANA 2.9% RM925,000 RM523 0.3%

SUNWAY 5.2% RM350,000 RM377 6.4%

DENGKIL 5.6% RM393,000 RM256 2.1%

PETALING JAYA 5.9% RM760,000 RM445 5.1%

BALAKONG 7.6% RM255,000 RM254 1.0%

KLANG 9.4% RM380,000 RM276 2.7%

GOMBAK 12.0% RM670,000 RM348 1.4%

BANDAR UTAMA 14.3% RM1,270,000 RM591 16.7%

GLENMARIE 14.9% RM875,000 RM333 9.8%

Serendah recorded the biggest growth in demand in 2020. Visitors were mostly interested in apartments and flats priced below RM100k with built-up sizes of 750 sq ft or smaller.

For Ulu Kelang, visits across all building types saw an increase. The number of visits for apartments nearly doubled. Most of the visitors for Ulu Kelang were interested in condominiums.

Port Klang did not record a high number of transactions in 2020, this explains the huge decline in capital growth by -20%. The lower median price of RM112k has led to demand growth, mainly from high-rise residences such as apartments, flats and serviced residences.

Penang

PTMP road block puts Recently, the Penang Transport Master Plan (PTMP) took a blow when the Federal government rejected a loan to fund the mega-project. According to a damper in state media reports, the Penang state government will consider other financing options to implement the proposed RM9.5 billion light rail transit (LRT) economic growth project from Komtar to Bayan Lepas.

Many parties are banking on the PTMP to catalyse the property market in Penang. This project is set to boost transportation on the island and, by extension, the appeal of fringe neighbourhoods. Moreover, the PTMP is expected to create jobs that will have trickle-down effects on the economy.

Demand 9.5% Year-on-Year

All building types RM280,000 Median Price RM264 0.9% PSF Capital Growth

Terrace House Condominium Apartment Service Residence

8.0% 12.3% 12.6% 20.4% Year-on-Year Year-on-Year Year-on-Year Year-on-Year

Median Price Median Price Median Price Median Price RM330,000 RM520,000 RM265,000 RM800,000

RM249 3.7% RM444 1.1% RM337 2.9% RM635 12.2% PSF Capital Growth PSF Capital Growth PSF Capital Growth PSF Capital Growth

Penang’s overall subsale residential property demand has contracted by -9.5%. The demand for serviced residences plunged by -20.4% in 2020, contrasting sharply with the previous year when it recorded tremendous growth.

One interesting observation is a significant addition to listings of serviced residences in Batu Kawan.

Top 20 Most in-Demand Areas in Penang

All property types

1. KEPALA BATAS 11. BUKIT JAMBUL 2. BALIK PULAU 12. JURU 3. SEBERANG JAYA 13. GURNEY 4. NIBONG TEBAL 14. GELUGOR 5. SIMPANG AMPAT 15. PERAI 6. BUKIT MERTAJAM 16. SUNGAI ARA 7. TELUK KUMBAR 17. BAYAN LEPAS 8. BUKIT MINYAK 18. BATU FERINGGHI 9. BATU MAUNG 19. AYER ITAM 10. BUTTERWORTH 20. BAYAN BARU

Kepala Batas took the crown for the area with the highest demand in Penang. The number of visits for Kepala Batas doubled in 2020, bolstered by a number of large-scale mixed development projects in the pipeline.

Balik Pulau also saw a significant increase in the number of visits. Both its apartments and flats segments doubled their visits figures in 2020.

Third on the list is Seberang Jaya. This area’s appeal lies in its strategic location – Seberang Jaya is sandwiched between Butterworth, Bukit Mertajam and the Penang bridge. Its median price of RM135k is also very affordable.

In a similar vein, Simpang Ampat enjoys a geographical advantage. This small town in Seberang Perai ranks fifth on the list. Located between the two Penang bridges, this area is set to benefit from the traffic flow in the years to come. There is also plenty of lands still within the area. The market is currently dominated by landed properties with spacious living areas priced below RM300k.

Area Breakdown

Location Demand Pricing

Year-on-Year % Change Median Price PSF Capital Growth

KEPALA BATAS 19.4% RM285,000 RM196 8.6%

SIMPANG AMPAT 5.1% RM280,000 RM190 0.2%

BUKIT JAMBUL 5.1% RM200,000 RM295 7.5%

GURNEY 1.1% RM1,025,000 RM521 15.8%

AYER ITAM 5.2% RM167,500 RM280 1.6%

BUKIT MINYAK 5.8% RM210,000 RM206 10.0%

BUKIT MERTAJAM 5.8% RM250,000 RM207 1.7%

BATU MAUNG 6.2% RM750,000 RM396 7.9%

BUTTERWORTH 6.4% RM350,000 RM275 3.5%

SEBERANG JAYA 6.4% RM135,000 RM193 5.2%

PERAI 6.4% RM193,500 RM202 1.8%

GELUGOR 7.4% RM382,500 RM461 10.3%

BALIK PULAU 10.1% RM320,000 RM318 10.5%

SUNGAI DUA 10.1% RM280,000 RM397 8.3%

BATU FERINGGHI 10.7% RM640,000 RM412 6.9%

GEORGE TOWN 11.9% RM274,000 RM387 8.7%

TELUK KUMBAR 12.5% RM168,000 RM316 2.7%

TANJUNG TOKONG 12.5% RM560,000 RM496 10.0%

JURU 12.7% RM438,000 RM226 8.1%

BAYAN BARU 12.7% RM305,000 RM343 13.0%

TANJUNG BUNGAH 13.4% RM630,000 RM440 0.4%

BAYAN LEPAS 14.6% RM370,000 RM442 1.1%

SUNGAI ARA 16.3% RM250,000 RM352 0.0%

JELUTONG 18.3% RM325,500 RM445 4.1%

PULAU TIKUS 23.0% RM1,400,000 RM756 0.9%

NIBONG TEBAL 37.9% RM235,000 RM161 0.3%

The growth in demand for Bukit Jambul is contributed considerably by the condominium segment which has seen its number of visits doubled. Many of the visitors are interested in properties priced below RM300k with built-up sizes of 1,000 sq ft or smaller.

Johor

Upcoming RTS set to Construction of the much-anticipated Johor Bahru–Singapore Rapid Transit System (RTS) has begun. Once completed, the project will be a game-changer boost Johor’s property as frequent commuters may expect a wait time of less than 4 minutes per train. Easy transportation will greatly benefit Johor’s property market as market Malaysians working in Singapore with higher incomes have the option to stay in Johor and commute daily. This will boost property prices in Johor.

Demand 12.7% Year-on-Year

All building types RM360,000 Median Price RM227 1.7% PSF Capital Growth

Terrace House Condominium Apartment Service Residence

13.3% 21.9% 16.4% 19.4% Year-on-Year Year-on-Year Year-on-Year Year-on-Year

Median Price Median Price Median Price Median Price RM360,000 RM318,000 RM310,000 RM355,000

RM227 2.7% RM254 13.3% RM314 0% RM459 6.5% PSF Capital Growth PSF Capital Growth PSF Capital Growth PSF Capital Growth

Johor recorded a double-digit drop across all property categories in 2020. However, terrace houses still posted capital gains as most home buyers in Johor still prefer landed homes in the form of terrace houses.

Top 15 Most in-Demand Areas in Johor

All property types

1. MUAR 9. ISKANDAR PUTERI (NUSAJAYA) 2. BATU PAHAT 10. MASAI 3. KLUANG 11. GELANG PATAH 4. KOTA TINGGI 12. JOHOR BAHRU 5. PASIR GUDANG 13. TAMPOI 6. SENAI 14. SKUDAI 7. KULAI 15. PERLING 8. PERMAS JAYA

Muar and Batu Pahat made it to the top of the list with several upcoming residential projects. There was a steady uptrend in property prices in these areas in 2020. By the end of the year, median prices in Muar and Batu Pahat were on par with areas within the Iskandar Region.

Area Breakdown

Location Demand Pricing

Year-on-Year % Change Median Price PSF Capital Growth

ISKANDAR PUTERI (NUSAJAYA) 118.6% RM559,000 RM387 1.7%

KLUANG 5.4% RM195,600 RM115 1.2%

MUAR 9.2% RM400,000 RM172 5.9%

PASIR GUDANG 12.8% RM320,000 RM233 5.6%

TAMPOI 16.1% RM350,000 RM276 2.7%

PERMAS JAYA 17.6% RM412,500 RM308 7.0%

KULAI 21.0% RM382,500 RM244 6.9%

JOHOR BAHRU 22.0% RM412,500 RM292 0.8%

MASAI 22.5% RM375,000 RM246 8.9%

ULU TIRAM 23.2% RM410,000 RM247 0.5%

GELANG PATAH 24.0% RM600,000 RM328 3.4%

SKUDAI 24.7% RM400,000 RM269 2.4%

BATU PAHAT 26.7% RM312,500 RM168 0.0%

KOTA TINGGI 29.6% RM300,000 RM159 11.7%

PERLING 31.6% RM562,500 RM297 9.0%

SENAI 32.7% RM280,000 RM190 0.6%

TEBRAU 37.0% RM550,000 RM361 1.2%

Iskandar Puteri conquers the top spot in Johor with an astounding +118.6% growth in demand. This can be attributed to a reduction by more than half of its listings.

Meanwhile, Kluang recorded the second-highest growth in property demand. The fastest-growing prices here are for properties between RM100k to RM150k and RM300k to RM400k.

About REA Group & iProperty.com.my REA Group in Asia operates digital real estate sites, experiences and events which deliver the most comprehensive set of related property services and project marketing across South East Asia, including Malaysia (iProperty.com.my), and Thailand (thinkofliving.com and Prakard), and the Greater China Region, including Mainland China (myfun.com) and Hong Kong (squarefoot.com.hk and SMARTExpo).

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