{"id":133295,"date":"2026-09-07T17:18:01","date_gmt":"2026-09-07T09:18:01","guid":{"rendered":"https:\/\/iqiglobal.com\/blog\/?p=133295"},"modified":"2026-09-07T17:18:03","modified_gmt":"2026-09-07T09:18:03","slug":"johor-property-market-forecast-2027","status":"publish","type":"post","link":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/","title":{"rendered":"Johor Property Market Forecast 2027: What the JS-SEZ and RTS Link Actually Change"},"content":{"rendered":"<!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\">\n<html><body><p><strong>Every Johor forecast published in the last two years has leaned on the same two events. Both of them finally land inside the next four months.<\/strong><\/p>\n\n\n\n<p>The Rapid Transit System Link is scheduled to carry its first passengers on 1 January 2027. The Johor-Singapore Special Economic Zone master plan is due to be launched in December 2026.<\/p>\n\n\n\n<p>So 2027 is the year the promises get tested. That makes it a very different year to plan for than 2025 or 2026 were.<\/p>\n\n\n\n<p>This is our institutional view of what changes, what does not, and where we think the market is mispricing the risk. It is deliberately less enthusiastic than most of what you will read on this topic.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide sc_height_small\">\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-tl-dr\">TL;DR<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>RTS Link opens 1 January 2027.<\/strong>&nbsp;Bukit Chagar to Woodlands North, roughly 5 minutes, 10,000 passengers per hour each direction, about 40,000 riders a day expected at launch.<\/li>\n\n\n\n<li><strong>The JS-SEZ master plan launches in December 2026<\/strong>&nbsp;at the Annual Leaders&rsquo; Retreat. It has already slipped three times.<\/li>\n\n\n\n<li><strong>Johor is a two-speed market.<\/strong>&nbsp;Industrial and landed have the momentum. High-rise carries the supply risk, with 108,863 existing serviced apartment units and another 60,544 in the pipeline through 2030 to 2031.<\/li>\n\n\n\n<li><strong>Industrial land has roughly doubled<\/strong>, from RM70 to RM80 per sq ft in 2024 to around RM150 per sq ft, driven mainly by data centre demand.<\/li>\n\n\n\n<li><strong>The binding constraint is power, not demand.<\/strong>&nbsp;Data centres could take 40% of Johor&rsquo;s electricity by 2035.<\/li>\n\n\n\n<li><strong>Our base case for 2027 is selective strength, not a broad rally.<\/strong>&nbsp;The real test arrives in 2028.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide sc_height_small\">\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2>What this forecast covers<\/h2><ul><li><a href=\"#h-tl-dr\" data-level=\"2\">TL;DR<\/a><\/li><li><a href=\"#h-what-actually-happens-between-now-and-the-end-of-2027\" data-level=\"2\">What actually happens between now and the end of 2027?<\/a><\/li><li><a href=\"#h-why-is-johor-really-a-two-speed-market\" data-level=\"2\">Why is Johor really a two-speed market?<\/a><\/li><li><a href=\"#h-is-johor-bahru-high-rise-in-a-bubble\" data-level=\"2\">Is Johor Bahru high-rise in a bubble?<\/a><\/li><li><a href=\"#h-what-incentives-apply-under-the-js-sez-and-who-qualifies\" data-level=\"2\">What incentives apply under the JS-SEZ, and who qualifies?<\/a><\/li><li><a href=\"#h-what-is-the-real-constraint-on-johor-s-industrial-story\" data-level=\"2\">What is the real constraint on Johor&rsquo;s industrial story?<\/a><\/li><li><a href=\"#h-does-the-rts-link-change-the-cross-border-maths\" data-level=\"2\">Does the RTS Link change the cross-border maths?<\/a><\/li><li><a href=\"#h-our-assumptions\" data-level=\"2\">Our assumptions<\/a><\/li><li><a href=\"#h-base-bull-and-bear-three-scenarios-for-2027\" data-level=\"2\">Base, bull and bear: three scenarios for 2027<\/a><\/li><li><a href=\"#h-what-does-this-mean-for-you\" data-level=\"2\">What does this mean for you?<\/a><\/li><li><a href=\"#h-frequently-asked-questions\" data-level=\"2\">Frequently asked questions<\/a><\/li><\/ul><\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide sc_height_small\">\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-actually-happens-between-now-and-the-end-of-2027\">What actually happens between now and the end of 2027?<\/h2>\n\n\n\n<p>Start with the calendar, because almost every argument about Johor rests on these four dates.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Event<\/th><th>Date<\/th><th>Why it matters<\/th><\/tr><\/thead><tbody><tr><td>Belanjawan 2027 tabled<\/td><td>9 October 2026<\/td><td>Sets federal allocations, and any change to stamp duty or RPGT lands here<\/td><\/tr><tr><td>Johor-Singapore Cooperation Ministerial Committee<\/td><td>November 2026<\/td><td>Ministerial groundwork ahead of the master plan launch<\/td><\/tr><tr><td>JS-SEZ Master Plan launch<\/td><td>December 2026<\/td><td>Investor clarity on zones, sectors, incentives and agency coordination<\/td><\/tr><tr><td>RTS Link passenger service<\/td><td>1 January 2027<\/td><td>The single biggest change to cross-border commuting in decades<\/td><\/tr><tr><td>Singapore VEP increase<\/td><td>1 January 2027<\/td><td>Cars rise from S$35 to S$50, motorcycles from S$4 to S$7<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-firm-are-these-dates\">How firm are these dates?<\/h3>\n\n\n\n<p>The RTS looks solid. As of August 2026 the Bukit Chagar station and the Malaysian CIQ complex were structurally complete and the project had moved into testing and commissioning.<\/p>\n\n\n\n<p>The master plan is a different story, and you should price that in. It was first expected by the end of 2025, then moved to 30 March 2026, then to the second quarter, then to the fourth, and it now sits in December.<\/p>\n\n\n\n<p><strong>A plan that has moved three times can move a fourth.<\/strong>&nbsp;Any 2027 model that assumes a December launch should carry a scenario where clarity does not arrive until the first half of 2027.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"720\" height=\"1024\" src=\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171157\/RTS-Link-Alignment-image-from-LandTransportGuru-720x1024.webp\" alt=\"Timeline of JS-SEZ and RTS Link milestones through 2027\" class=\"wp-image-133297\" srcset=\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171157\/RTS-Link-Alignment-image-from-LandTransportGuru-720x1024.webp 720w, https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171157\/RTS-Link-Alignment-image-from-LandTransportGuru-211x300.webp 211w, https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171157\/RTS-Link-Alignment-image-from-LandTransportGuru-768x1092.webp 768w, https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171157\/RTS-Link-Alignment-image-from-LandTransportGuru-370x526.webp 370w, https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171157\/RTS-Link-Alignment-image-from-LandTransportGuru-642x913.webp 642w, https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171157\/RTS-Link-Alignment-image-from-LandTransportGuru.webp 805w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><\/figure>\n\n\n\n<p class=\"has-small-font-size\">Image source: <a href=\"https:\/\/landtransportguru.net\/train\/rts-link\/\" target=\"_blank\" rel=\"noreferrer noopener\">LandTransport Guru<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-johor-really-a-two-speed-market\">Why is Johor really a two-speed market?<\/h2>\n\n\n\n<p>This is the most useful frame we can give you, and it explains why intelligent people look at the same market and reach opposite conclusions.<\/p>\n\n\n\n<p>They are not disagreeing. They are describing different segments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-speed-one-industrial-and-landed\">Speed one: industrial and landed<\/h3>\n\n\n\n<p>Prime industrial land in Johor has climbed from RM70 to RM80 per sq ft in 2024 to roughly RM150 per sq ft, driven largely by data centre operators.<\/p>\n\n\n\n<p>The transaction data tells the same story. In the first nine months of 2025, commercial transaction values rose 29.5% year on year and industrial rose 30.5%. Residential managed 3.4%.<\/p>\n\n\n\n<p>Johor also pulled RM91.1 billion in approved investment over that period, the highest of any state, with the JS-SEZ accounting for RM68 billion of it. Singapore was the largest single source at RM28.5 billion.<\/p>\n\n\n\n<p><strong>That is not a housing story. It is an industrial story with housing attached.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-speed-two-high-rise-residential\">Speed two: high-rise residential<\/h3>\n\n\n\n<p>Here the picture inverts. Johor Bahru had 108,863 existing serviced apartment units as at the first quarter of 2026, with a further 60,544 units under construction or planned through 2030 to 2031.<\/p>\n\n\n\n<p>That is a pipeline worth more than half the standing stock, arriving into a market where the demand case is largely forward-looking.<\/p>\n\n\n\n<p>CIMB Securities has kept a neutral rating on the property sector specifically on this basis, favouring industrial and landed exposure while flagging oversupply risk in JB high-rise.<\/p>\n\n\n\n<p>If you are looking at specific projects rather than the market as a whole, our&nbsp;<a href=\"https:\/\/iqiglobal.com\/blog\/developments-near-johor-singapore-ciq-rts-link\/\" target=\"_blank\" rel=\"noreferrer noopener\">guide to developments near the RTS Link<\/a>&nbsp;breaks down the individual addresses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-is-johor-bahru-high-rise-in-a-bubble\">Is Johor Bahru high-rise in a bubble?<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2025\/04\/11170210\/Lido-Waterfront-Boulevard.webp\" alt=\"\" style=\"width:850px;height:auto\"><\/figure>\n\n\n\n<p>You will hear this argued both ways with equal confidence. Here is the honest version.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-bear-case\">The bear case<\/h3>\n\n\n\n<p>New launches near the RTS have been marketed at around RM1,500 per sq ft. The median transacted price for subsale property in the same area sits just below RM900 per sq ft.<\/p>\n\n\n\n<p>More pointedly, transactions above RM1,000 per sq ft made up less than 0.1% of Johor Bahru high-rise deals across 2024 and 2025.<\/p>\n\n\n\n<p>The bear reading is straightforward. When launch pricing detaches this far from the secondary market, and supply is set to expand sharply at the same time, you have the conditions that produced the Iskandar Puteri correction between 2013 and 2023.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-the-bull-case\">The bull case<\/h3>\n\n\n\n<p>The price gap with Singapore is not a marketing line, it is arithmetic. The average residential price in Johor was RM487,128 in the first quarter of 2026. The average resale HDB flat in Singapore was around RM2.1 million.<\/p>\n\n\n\n<p>Even after Malaysia doubled foreign-buyer stamp duty in January 2026, the saving is large enough to absorb the additional tax comfortably.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-our-reading\">Our reading<\/h3>\n\n\n\n<p>The Socio-Economic Research Centre found no apparent sign of an overheating bubble despite some speculative buying, while noting the need for supply and demand alignment and better price transparency.<\/p>\n\n\n\n<p>Ground-level data supports the calmer view. Olive Tree Property Consultants found Johor Bahru prices broadly stable through the first quarter of 2026, with selective rather than broad-based increases. Landed schemes moved modestly, with a double-storey terrace in Taman Molek rising to RM1.1 million from RM980,000 and Horizon Hills moving from RM800,000 to RM820,000.<\/p>\n\n\n\n<p><strong>Both camps are right about different things.<\/strong>&nbsp;Landed and mass-market Johor is stable and fundamentally supported. A specific slice of RTS-adjacent new-launch high-rise is priced for an outcome that has not happened yet.<\/p>\n\n\n\n<p>Treat those as two markets, and most of the confusion disappears.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>The mistake is treating Johor as one market. Landed housing and industrial land are being driven by real occupiers and real investment approvals. A narrow band of high-rise product near the RTS is being priced on expectation. Investors who separate the two will do well. Investors who do not are taking industrial-grade risk for residential-grade returns.<\/p><cite><strong>Kashif Ansari<\/strong>, Co-Founder and Group CEO, Juwai IQI<\/cite><\/blockquote><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-incentives-apply-under-the-js-sez-and-who-qualifies\">What incentives apply under the JS-SEZ, and who qualifies?<\/h2>\n\n\n\n<p>If you are assessing an entry rather than reading for interest, this is the section that matters.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Incentive<\/th><th>What it offers<\/th><th>Applies to<\/th><\/tr><\/thead><tbody><tr><td>Special corporate tax rate<\/td><td>5% for up to 15 years<\/td><td>New investments in qualifying high-value activities<\/td><\/tr><tr><td>Investment tax allowance<\/td><td>100% on qualifying capital expenditure<\/td><td>Qualifying capital investment<\/td><\/tr><tr><td>Stamp duty exemption<\/td><td>Full exemption<\/td><td>Commercial property transactions<\/td><\/tr><tr><td>Accelerated capital allowance<\/td><td>Faster write-down<\/td><td>Renovation expenditure<\/td><\/tr><tr><td>Flat personal income tax<\/td><td>15% for 10 years<\/td><td>Eligible knowledge workers<\/td><\/tr><tr><td>Fast-track approvals<\/td><td>Manufacturing licences within seven days<\/td><td>Applications through IMFC-J<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The talent layer matters too, and it is often overlooked in property analysis. The zone targets 20,000 high-skilled jobs over five years, and the Johor Talent Development Council has set premium minimum salaries of RM4,000 for diploma holders and RM5,000 for Malaysian Skills Certificate holders at degree equivalent.<\/p>\n\n\n\n<p><strong>Those wage floors are the mechanism that turns investment approvals into housing demand.<\/strong>&nbsp;Approvals alone do not fill units. Salaries do.<\/p>\n\n\n\n<p>For the wider zone background, see our&nbsp;<a href=\"https:\/\/iqiglobal.com\/blog\/johor-singapore-special-zone-opportunities\/\">overview of JS-SEZ investment opportunities<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-the-real-constraint-on-johor-s-industrial-story\">What is the real constraint on Johor&rsquo;s industrial story?<\/h2>\n\n\n\n<p>Not demand. Power.<\/p>\n\n\n\n<p>Johor approved 51 data centre projects worth RM182.96 billion as at November 2025, of which 17 were operational, 11 under construction and 23 approved but not yet started.<\/p>\n\n\n\n<p>Wood Mackenzie&rsquo;s assessment is that Johor&rsquo;s data centres could consume 40% of the state&rsquo;s electricity demand by 2035, an increase of roughly 24 percentage points. Their framing is the one to hold onto: the question is increasingly about where power is available rather than whether it is available.<\/p>\n\n\n\n<p>The arithmetic is tight. Johor has around 6.8 GW of installed generation capacity, mostly gas and coal, with 2.1 GW of coal-fired plant due to retire in the 2030s.<\/p>\n\n\n\n<p>Fitch Ratings reaches the same conclusion from the credit side, noting that growth in both Singapore and Johor will be shaped more by infrastructure readiness than by demand, and that new projects face greater delay risk from power availability, grid upgrades and equipment lead times.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"547\" height=\"365\" src=\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171527\/johor-data-center-image-from-starprop.webp\" alt=\"Johor data centre and electricity grid capacity constraints to 2035\" class=\"wp-image-133299\" srcset=\"https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171527\/johor-data-center-image-from-starprop.webp 547w, https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171527\/johor-data-center-image-from-starprop-300x200.webp 300w, https:\/\/iqiglobal-web-revamp.s3.ap-southeast-1.amazonaws.com\/wp\/blog\/wp-content\/uploads\/2026\/09\/07171527\/johor-data-center-image-from-starprop-370x247.webp 370w\" sizes=\"(max-width: 600px) 100vw, 547px\" \/><\/figure>\n\n\n\n<p class=\"has-small-font-size\">Image source: <a href=\"https:\/\/www.starproperty.my\/news\/data-centres-at-the-core-of-johor-s-digital-economy-push\/132314\" target=\"_blank\" rel=\"noreferrer noopener\">StarProperty<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-why-this-matters-for-property-specifically\">Why this matters for property specifically<\/h3>\n\n\n\n<p>The RM150 per sq ft industrial land figure rests on data centre bidding. If grid readiness caps new approvals, and Johor&rsquo;s existing freeze on water-intensive Tier 1 and Tier 2 facilities stays in place, the marginal buyer for industrial land thins out.<\/p>\n\n\n\n<p>There is a second-order effect worth planning for. The construction cycle peaks before occupancy does.<\/p>\n\n\n\n<p>Major Johor data centre contracts currently run to completion dates of mid-2027, the fourth quarter of 2027 and the second quarter of 2028. Building these facilities employs many times more people than running them.<\/p>\n\n\n\n<p><strong>If your rental thesis depends on data centre workers, know which phase you are underwriting.<\/strong>&nbsp;The handover from construction workforce to operational workforce happens inside your holding period.<\/p>\n\n\n\n<p>We looked at this in more depth in&nbsp;<a href=\"https:\/\/iqiglobal.com\/blog\/data-centre-growth-malaysia-housing-impact\/\">Malaysia&rsquo;s data centre boom and its impact on housing supply<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-does-the-rts-link-change-the-cross-border-maths\">Does the RTS Link change the cross-border maths?<\/h2>\n\n\n\n<p>Yes, and the VEP increase is the underrated half of it.<\/p>\n\n\n\n<p>From 1 January 2027, foreign-registered cars entering Singapore pay S$50 a day instead of S$35, and motorcycles pay S$7 instead of S$4. That is a 43% increase for cars and 75% for motorcycles, landing in the same month the train opens.<\/p>\n\n\n\n<p>Samuel Tan, chief executive of Olive Tree Property Consultants, has argued that this looks like a deliberate push to move daily commuters onto the RTS rather than driving across the Causeway, and that it should support demand for homes near RTS stations as commuters start prioritising accessibility.<\/p>\n\n\n\n<p>He has also made the structural argument we find most persuasive, comparing the JS-SEZ to the Hong Kong and Shenzhen model, with Singapore providing financial and headquarters functions while Johor provides land and labour at lower cost. On his reading, the transit network is what makes that twinning model workable.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-a-cross-border-buyer-is-really-comparing\">What a cross-border buyer is really comparing<\/h3>\n\n\n\n<p>Run your own numbers rather than trusting a brochure. The calculator below handles the repayment side.<\/p>\n\n\n\n<iframe src=\"https:\/\/iqiglobal.com\/calculator\/mortgage-calculator\" width=\"100%\" height=\"640\" frameborder=\"0\" title=\"IQI Mortgage Calculator\" loading=\"lazy\"><\/iframe>\n\n\n\n<p class=\"has-small-font-size\"><em>Estimates for guidance only. Actual figures depend on the bank&rsquo;s assessment, current rates, and your full financial profile.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide sc_height_small\">\n\n\n\n<p class=\"has-medium-font-size\"><strong>The difference between the right Johor asset and the wrong one is about two kilometres.<\/strong><\/p>\n\n\n\n<p class=\"has-text-align-center\">Catchment, tenure, completion year and competing supply decide the outcome long before the market does. An IQI adviser will walk you through the specific asset you are considering, with the transaction data behind it.<\/p>\n\n\n \n<div data-block=\"gutenkit\/button\" data-post-id=\"133295\" id=\"block-f628596a-65c9-4c79-8059-fcb1d71538ff\" class=\"wp-block-gutenkit-button gkit1538ff gutenkit-block\"><div class=\"gkit-btn-wraper\"><a class=\"gkit-btn\" href=\"https:\/\/iqiglobal.com\/my\/agents\/johor\" target=\"_blank\" rel=\"noopener\">Speak to our Johor market team &gt;<\/a><\/div><\/div>\n \n\n\n<p class=\"has-text-align-center has-small-font-size\">Or review the pipeline directly:&nbsp;<a href=\"https:\/\/www.iqiglobal.com\/projects\" target=\"_blank\" rel=\"noreferrer noopener\">new launches<\/a>&nbsp;and&nbsp;<a href=\"https:\/\/www.iqiglobal.com\/land\" target=\"_blank\" rel=\"noreferrer noopener\">land<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide sc_height_small\">\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-our-assumptions\">Our assumptions<\/h2>\n\n\n\n<p>Every forecast rests on things that may not happen. Here are ours, stated plainly so you can stress-test them against your own view.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The RTS Link opens on or close to 1 January 2027 and reaches meaningful daily ridership within the first two quarters.<\/li>\n\n\n\n<li>The JS-SEZ master plan is launched in December 2026 and published in enough detail to guide capital allocation.<\/li>\n\n\n\n<li>No further change to foreign-buyer stamp duty or RPGT in Belanjawan 2027.<\/li>\n\n\n\n<li>The overnight policy rate stays broadly where it is through 2027.<\/li>\n\n\n\n<li>Johor&rsquo;s freeze on water-intensive data centre categories remains, but AI-related approvals continue.<\/li>\n\n\n\n<li>Feeder transit, whether ART or APM, is still not operational during 2027.<\/li>\n<\/ul>\n\n\n\n<p><strong>If two or more of these break, the base case below no longer holds.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-base-bull-and-bear-three-scenarios-for-2027\">Base, bull and bear: three scenarios for 2027<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th><\/th><th>Bear<\/th><th>Base<\/th><th>Bull<\/th><\/tr><\/thead><tbody><tr><td><strong>Trigger<\/strong><\/td><td>Master plan slips again, RTS ridership undershoots, grid constraints stall industrial approvals<\/td><td>RTS opens on time, master plan lands in December, feeder transit still absent<\/td><td>Master plan lands with detailed zoning, RTS ridership beats projections, feeder transit funded<\/td><\/tr><tr><td><strong>Landed residential<\/strong><\/td><td>Flat<\/td><td>Modest, selective growth<\/td><td>Broad-based growth in RTS and ART catchments<\/td><\/tr><tr><td><strong>High-rise, RTS catchment<\/strong><\/td><td>New-launch pricing corrects toward subsale levels<\/td><td>Sharp split between walkable and non-walkable addresses<\/td><td>Rental absorption validates current launch pricing<\/td><\/tr><tr><td><strong>High-rise, wider JB<\/strong><\/td><td>Rising overhang, rental compression<\/td><td>Soft, competing with the completion pipeline<\/td><td>Spillover demand lifts the second ring<\/td><\/tr><tr><td><strong>Industrial land<\/strong><\/td><td>Plateau as data centre bidding slows<\/td><td>Holds near current levels<\/td><td>Continues climbing on fresh AI-linked approvals<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>We hold the base case.<\/strong>&nbsp;Our reading is that 2027 delivers selective strength rather than a broad rally, and that the genuine test arrives in 2028, when the construction cycle rolls off and the high-rise completion wave meets the market at the same time.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-does-this-mean-for-you\">What does this mean for you?<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-if-you-are-an-institutional-or-industrial-investor\">If you are an institutional or industrial investor<\/h3>\n\n\n\n<p>Power availability is your diligence priority, not land price. Confirm the substation position, the grid connection timeline and the energy supply agreement status before you underwrite the land. Wood Mackenzie&rsquo;s point about location-specific grid pressure is the operative risk.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-if-you-are-a-developer-holding-johor-landbank\">If you are a developer holding Johor landbank<\/h3>\n\n\n\n<p>The landed and industrial-adjacent portions of your bank are working. The high-rise portion faces a 2028 to 2031 competition problem that is already visible in the pipeline data. Phasing decisions made in 2027 will matter more than pricing decisions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-if-you-are-a-cross-border-individual-investor\">If you are a cross-border individual investor<\/h3>\n\n\n\n<p>Walkability to Bukit Chagar is doing more work in the price than most buyers realise, and the feeder transit that would extend that catchment is not built yet. The second ring is cheaper for a reason that is real today and may not be real in 2029. That is a timing bet, so size it like one.<\/p>\n\n\n\n<figure class=\"wp-block-pullquote\"><blockquote><p>Johor&rsquo;s fundamentals are the strongest they have been in a decade. That is exactly why discipline matters now. Infrastructure creates value over years, not over launch weekends, and the assets that reward patience are rarely the ones with the loudest marketing.<\/p><cite><strong>Kashif Ansari<\/strong>, Co-Founder and Group CEO, Juwai IQI<\/cite><\/blockquote><\/figure>\n\n\n\n<p class=\"has-small-font-size\"><em><strong>About this forecast.<\/strong>&nbsp;Prepared by Juwai IQI using research from CIMB Securities, Wood Mackenzie, Moody&rsquo;s Ratings, Fitch Ratings, the Socio-Economic Research Centre and Olive Tree Property Consultants. Figures as at 7 September 2026. Next scheduled review: after the JS-SEZ master plan launch in December 2026. This is general market commentary and not investment advice.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-frequently-asked-questions\">Frequently asked questions<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1788762273499\"><strong class=\"schema-faq-question\">When does the Johor Bahru to Singapore RTS Link open?<\/strong> <p class=\"schema-faq-answer\">Passenger service is scheduled to begin on 1 January 2027, connecting Bukit Chagar in Johor Bahru with Woodlands North in Singapore. The journey takes about five minutes and the system is designed for 10,000 passengers per hour in each direction, with roughly 40,000 riders a day expected at launch.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788762285209\"><strong class=\"schema-faq-question\">When will the JS-SEZ master plan be released?<\/strong> <p class=\"schema-faq-answer\">It is expected to be launched in December 2026 at the Annual Leaders&rsquo; Retreat, jointly by the Malaysian and Singaporean prime ministers. The launch has been postponed several times, having originally been expected by the end of 2025.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788762299750\"><strong class=\"schema-faq-question\">Is Johor Bahru property in a bubble?<\/strong> <p class=\"schema-faq-answer\">It depends entirely on the segment. Landed and mass-market housing has been stable, with selective rather than broad price increases. A narrow band of new-launch high-rise near the RTS has been marketed at levels well above the subsale median in the same area, and that specific slice carries genuine correction risk.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788762312825\"><strong class=\"schema-faq-question\">What tax incentives does the JS-SEZ offer?<\/strong> <p class=\"schema-faq-answer\">Qualifying high-value activities can access a special corporate tax rate of 5% for up to 15 years, a 100% investment tax allowance on qualifying capital expenditure, stamp duty exemption on commercial property transactions, accelerated capital allowance on renovation, and a flat 15% personal income tax rate for eligible knowledge workers over 10 years.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788762327221\"><strong class=\"schema-faq-question\">How much supply is coming to the Johor Bahru high-rise market?<\/strong> <p class=\"schema-faq-answer\">Johor Bahru had 108,863 existing serviced apartment units as at the first quarter of 2026, with a further 60,544 units under construction or planned through 2030 to 2031.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788762338561\"><strong class=\"schema-faq-question\">Will data centres keep driving Johor industrial land prices?<\/strong> <p class=\"schema-faq-answer\">Demand remains strong, but power is the constraint. Johor&rsquo;s data centres could consume 40% of state electricity demand by 2035, and grid readiness rather than investor appetite is likely to determine how many further projects proceed.<\/p> <\/div> <\/div>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-wide sc_height_small\">\n\n\n\n<p><strong>Forecasts are useful. Transaction data is decisive.<\/strong><\/p>\n\n\n\n<p>IQI tracks Johor transactions, completions and rental movement through Realtycheck, our own property data platform. Fill in your details below and one of our Johor agents will connect with you to discuss what the numbers actually say about the catchment you are looking at.<\/p>\n\n\n\n<p><strong>Fill in your details below and our agent will be in touch.<\/strong><\/p>\n\n\n<!--  \t\t<form id=\"custom-lead-form\" action=\"https:\/\/iqiglobal.com\/blog\/wp-admin\/admin-post.php\" method=\"post\"> -->\n\t<form id=\"custom-lead-form\" action=\"https:\/\/iqiglobal.com\/leads\/blog\/invest\" method=\"post\">\n\t\t<input type=\"hidden\" name=\"previous_url\" value=\"\">\n        <input type=\"hidden\" name=\"action\" value=\"custom_blog_form\">\n\t\t<input type=\"hidden\" name=\"consent_agreement\" value=\"0\">\n\t\t<input type=\"hidden\" name=\"current_url\" value=\"https:\/\/iqiglobal.com\/blog\/wp-json\/wp\/v2\/posts\/133295\">\n\n        <input type=\"hidden\" id=\"_wpnonce\" name=\"_wpnonce\" value=\"6d9e02f62a\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/blog\/wp-json\/wp\/v2\/posts\/133295\" \/>\n        <div class=\"custom-lead-form-div\">\n            <label class=\"custom-lead-form-label\" for=\"full_name\">Full Name:<\/label><br>\n            <input type=\"text\" name=\"full_name\" class=\"full-width-input custom-lead-form-input\" required>\n        <\/div>\n\n\t\t<div class=\"custom-lead-form-div\">\n            <label class=\"custom-lead-form-label\" for=\"country\">Location:<\/label><br>\n            <select name=\"location\" class=\"full-width-input custom-lead-form-input\" required>\n                <option value=\"\">Select your location<\/option>\n\t\t\t\t\t<optgroup label=\"Malaysia\">\n\t\t\t\t\t\t<option value=\"Johor\">Johor<\/option><option value=\"Kedah\">Kedah<\/option><option value=\"Kuala Lumpur\">Kuala Lumpur<\/option><option value=\"Melaka\">Melaka<\/option><option value=\"Negeri Sembilan\">Negeri Sembilan<\/option><option value=\"Pahang\">Pahang<\/option><option value=\"Penang\">Penang<\/option><option 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value=\"Glorioso Islands\">Glorioso Islands<\/option><option value=\"Greece\">Greece<\/option><option value=\"Greenland\">Greenland<\/option><option value=\"Grenada\">Grenada<\/option><option value=\"Guadeloupe\">Guadeloupe<\/option><option value=\"Guam\">Guam<\/option><option value=\"Guatemala\">Guatemala<\/option><option value=\"Guernsey\">Guernsey<\/option><option value=\"Guinea\">Guinea<\/option><option value=\"Guinea-Bissau\">Guinea-Bissau<\/option><option value=\"Guyana\">Guyana<\/option><option value=\"Haiti\">Haiti<\/option><option value=\"Heard Island and McDonald Islands\">Heard Island and McDonald Islands<\/option><option value=\"Holy See\">Holy See<\/option><option value=\"Honduras\">Honduras<\/option><option value=\"Hong Kong (SAR)\">Hong Kong (SAR)<\/option><option value=\"Howland Island\">Howland Island<\/option><option value=\"Hungary\">Hungary<\/option><option value=\"Iceland\">Iceland<\/option><option value=\"India\">India<\/option><option value=\"Indonesia\">Indonesia<\/option><option value=\"Iran\">Iran<\/option><option value=\"Iraq\">Iraq<\/option><option value=\"Ireland\">Ireland<\/option><option value=\"Isle of Man\">Isle of Man<\/option><option value=\"Israel\">Israel<\/option><option value=\"Italy\">Italy<\/option><option value=\"Jamaica\">Jamaica<\/option><option value=\"Japan\">Japan<\/option><option value=\"Jarvis Island\">Jarvis Island<\/option><option value=\"Jersey\">Jersey<\/option><option value=\"Johnston Atoll\">Johnston Atoll<\/option><option value=\"Jordan\">Jordan<\/option><option value=\"Juan de Nova Island\">Juan de Nova Island<\/option><option value=\"Kazakhstan\">Kazakhstan<\/option><option value=\"Kenya\">Kenya<\/option><option value=\"Kingman Reef\">Kingman Reef<\/option><option value=\"Kiribati\">Kiribati<\/option><option value=\"Kuwait\">Kuwait<\/option><option value=\"Kyrgyzstan\">Kyrgyzstan<\/option><option value=\"Laos\">Laos<\/option><option value=\"Latvia\">Latvia<\/option><option value=\"Lebanon\">Lebanon<\/option><option value=\"Lesotho\">Lesotho<\/option><option value=\"Liberia\">Liberia<\/option><option value=\"Libya\">Libya<\/option><option value=\"Liechtenstein\">Liechtenstein<\/option><option value=\"Lithuania\">Lithuania<\/option><option value=\"Luxembourg\">Luxembourg<\/option><option value=\"Macau (SAR)\">Macau (SAR)<\/option><option value=\"Madagascar\">Madagascar<\/option><option value=\"Malawi\">Malawi<\/option><option value=\"Malaysia\">Malaysia<\/option><option value=\"Maldives\">Maldives<\/option><option value=\"Mali\">Mali<\/option><option value=\"Malta\">Malta<\/option><option value=\"Marshall Islands\">Marshall Islands<\/option><option value=\"Martinique\">Martinique<\/option><option value=\"Mauritania\">Mauritania<\/option><option value=\"Mauritius\">Mauritius<\/option><option value=\"Mayotte\">Mayotte<\/option><option value=\"Mexico\">Mexico<\/option><option value=\"Micronesia\">Micronesia<\/option><option value=\" Federated States of\"> Federated States of<\/option><option value=\"Midway Islands\">Midway Islands<\/option><option value=\"Moldova\">Moldova<\/option><option value=\"Monaco\">Monaco<\/option><option value=\"Mongolia\">Mongolia<\/option><option value=\"Montenegro\">Montenegro<\/option><option value=\"Montserrat\">Montserrat<\/option><option value=\"Morocco\">Morocco<\/option><option value=\"Mozambique\">Mozambique<\/option><option value=\"Myanmar\">Myanmar<\/option><option value=\"Namibia\">Namibia<\/option><option value=\"Nauru\">Nauru<\/option><option value=\"Navassa Island\">Navassa Island<\/option><option value=\"Nepal\">Nepal<\/option><option value=\"Netherlands\">Netherlands<\/option><option value=\"Netherlands Antilles\">Netherlands Antilles<\/option><option value=\"New Caledonia\">New Caledonia<\/option><option value=\"New Zealand\">New Zealand<\/option><option value=\"Nicaragua\">Nicaragua<\/option><option value=\"Niger\">Niger<\/option><option value=\"Nigeria\">Nigeria<\/option><option value=\"Niue\">Niue<\/option><option value=\"Norfolk Island\">Norfolk Island<\/option><option value=\"North Korea\">North Korea<\/option><option value=\"North Macedonia\">North Macedonia<\/option><option value=\"Northern Mariana Islands\">Northern Mariana Islands<\/option><option value=\"Norway\">Norway<\/option><option value=\"Oman\">Oman<\/option><option value=\"Pakistan\">Pakistan<\/option><option value=\"Palau\">Palau<\/option><option value=\"Palestine\">Palestine<\/option><option value=\"Occupied\">Occupied<\/option><option value=\"Palmyra Atoll\">Palmyra Atoll<\/option><option value=\"Panama\">Panama<\/option><option value=\"Papua New Guinea\">Papua New Guinea<\/option><option value=\"Paraguay\">Paraguay<\/option><option value=\"Peru\">Peru<\/option><option value=\"Philippines\">Philippines<\/option><option value=\"Pitcairn Islands\">Pitcairn Islands<\/option><option value=\"Poland\">Poland<\/option><option value=\"Portugal\">Portugal<\/option><option value=\"Puerto Rico\">Puerto Rico<\/option><option value=\"Qatar\">Qatar<\/option><option value=\"R\u00e9union\">R\u00e9union<\/option><option value=\"Romania\">Romania<\/option><option value=\"Russia\">Russia<\/option><option value=\"Rwanda\">Rwanda<\/option><option value=\"Saint Barth\u00e9lemy\">Saint Barth\u00e9lemy<\/option><option value=\"Saint Helena\">Saint Helena<\/option><option value=\"Saint Kitts and Nevis\">Saint Kitts and Nevis<\/option><option value=\"Saint Lucia\">Saint Lucia<\/option><option value=\"Saint Martin (French part)\">Saint Martin (French part)<\/option><option value=\"Saint Pierre and Miquelon\">Saint Pierre and Miquelon<\/option><option value=\"Saint Vincent and the Grenadines\">Saint Vincent and the Grenadines<\/option><option value=\"San Marino\">San Marino<\/option><option value=\"S\u00e3o Tom\u00e9 and Pr\u00edncipe\">S\u00e3o Tom\u00e9 and Pr\u00edncipe<\/option><option value=\"Saudi Arabia\">Saudi Arabia<\/option><option value=\"Senegal\">Senegal<\/option><option value=\"Serbia\">Serbia<\/option><option value=\"Serbia and Montenegro\">Serbia and Montenegro<\/option><option value=\"Seychelles\">Seychelles<\/option><option value=\"Sierra Leone\">Sierra Leone<\/option><option value=\"Singapore\">Singapore<\/option><option value=\"Sint Maarten\">Sint Maarten<\/option><option value=\"Slovakia\">Slovakia<\/option><option value=\"Slovenia\">Slovenia<\/option><option value=\"Solomon Islands\">Solomon Islands<\/option><option value=\"Somalia\">Somalia<\/option><option value=\"South Africa\">South Africa<\/option><option value=\"South Georgia and the South Sandwich Islands\">South Georgia and the South Sandwich Islands<\/option><option value=\"South Korea\">South Korea<\/option><option value=\"South Sudan\">South Sudan<\/option><option value=\"Spain\">Spain<\/option><option value=\"Spratly Islands\">Spratly Islands<\/option><option value=\"Sri Lanka\">Sri Lanka<\/option><option value=\"Sudan\">Sudan<\/option><option value=\"Suriname\">Suriname<\/option><option value=\"Svalbard and Jan Mayen\">Svalbard and Jan Mayen<\/option><option value=\"Swaziland\">Swaziland<\/option><option value=\"Sweden\">Sweden<\/option><option value=\"Switzerland\">Switzerland<\/option><option value=\"Syria\">Syria<\/option><option value=\"Taiwan\">Taiwan<\/option><option value=\" China\"> China<\/option><option value=\"Tajikistan\">Tajikistan<\/option><option value=\"Tanzania\">Tanzania<\/option><option value=\"Thailand\">Thailand<\/option><option value=\"The Bahamas\">The Bahamas<\/option><option value=\"The Gambia\">The Gambia<\/option><option value=\"Togo\">Togo<\/option><option value=\"Tokelau\">Tokelau<\/option><option value=\"Tonga\">Tonga<\/option><option value=\"Trinidad and Tobago\">Trinidad and Tobago<\/option><option value=\"Tromelin Island\">Tromelin Island<\/option><option value=\"Tunisia\">Tunisia<\/option><option value=\"Turkey\">Turkey<\/option><option value=\"Turkmenistan\">Turkmenistan<\/option><option value=\"Turks and Caicos Islands\">Turks and Caicos Islands<\/option><option value=\"Tuvalu\">Tuvalu<\/option><option value=\"Uganda\">Uganda<\/option><option value=\"Ukraine\">Ukraine<\/option><option value=\"United Arab Emirates\">United Arab Emirates<\/option><option value=\"United Kingdom\">United Kingdom<\/option><option value=\"United States\">United States<\/option><option value=\"United States Minor Outlying Islands\">United States Minor Outlying Islands<\/option><option value=\"Uruguay\">Uruguay<\/option><option value=\"Uzbekistan\">Uzbekistan<\/option><option value=\"Vanuatu\">Vanuatu<\/option><option value=\"Venezuela\">Venezuela<\/option><option value=\"Vietnam\">Vietnam<\/option><option value=\"Virgin Islands (US)\">Virgin Islands (US)<\/option><option value=\"Wake Island\">Wake Island<\/option><option value=\"Wallis and Futuna\">Wallis and Futuna<\/option><option value=\"West Bank\">West Bank<\/option><option value=\"Western Sahara\">Western Sahara<\/option><option 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For more details on our data practices, please refer to our <a href=\"https:\/\/www.iqiglobal.com\/privacy-policy\">Privacy Policy.<\/a><\/label><br>\n\t\t\t<input type=\"hidden\" name=\"newsletter\" value=\"0\">\n\t\t\t<label class=\"custom-checkbox-label\"><input type=\"checkbox\" name=\"newsletter\" value=\"1\"> I want the latest property updates, marketing emails, and newsletters from IQI Global by subscribing to IQI Global mailing list<\/label><br>\n\t\t<\/div>\n\n\t\t<input type=\"hidden\" name=\"g-recaptcha-response\" id=\"g-recaptcha-response\">\n\n\n        <p>\n            <button type=\"submit\">Submit<\/button>\n        <\/p>\n    <\/form>\n\n\t<style>\n        .full-width-input {\n            width: 100%;\n            padding: 8px;\n            box-sizing: border-box;\n        }\n\t\t.custom-lead-form-div {\n\t\t\tmargin-bottom: 20px;\n\t\t}\n\t\t.custom-lead-form-input {\n\t\t\tpadding: 8px 12px !important;\n\t\t\tborder-color: var(--theme-color-input_bd_color) !important;\n\t\t}\n\t\t.custom-lead-form-label {\n\t\t\tfont-size: 15px !important;\n\t\t\tfont-weight: 500 !important;\n\t\t}\n\n\t\t.custom-checkbox-label {\n\t\t\tfont-size: 15px !important;\n\t\t\tfont-weight: 400 !important;\n\t\t}\n\n\t\t.phone-input-wrapper {\n\t\t\tdisplay: flex;\n\t\t\talign-items: center;\n\t\t\tborder: 1px solid #ffb199; 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\/\/ \u2705 Prevent default submission first\n\n\t\t\t\tconst checkboxes = form.querySelectorAll('input[name=\"lead_type[]\"]');\n\t\t\t\tconst isChecked = Array.from(checkboxes).some(checkbox => checkbox.checked);\n\n\t\t\t\tif (!isChecked) {\n\t\t\t\t\terror.style.display = 'block';\n\t\t\t\t\treturn; \/\/ stop here if validation fails\n\t\t\t\t} else {\n\t\t\t\t\terror.style.display = 'none';\n\t\t\t\t}\n\n\t\t\t\t\/\/ \u2705 Now run reCAPTCHA v3\n\t\t\t\tgrecaptcha.ready(function () {\n\t\t\t\t\tgrecaptcha.execute('6Lc2VuIpAAAAAI6-27GyE-SCtgCMwOPptgZOw8gC', { action: 'submit' })\n\t\t\t\t\t\t.then(function (token) {\n\t\t\t\t\t\t\tdocument.getElementById('g-recaptcha-response').value = token;\n\t\t\t\t\t\t\tform.submit(); \/\/ \u2705 Safe manual submission\n\t\t\t\t\t\t});\n\t\t\t\t});\n\t\t\t});\n\t\t});\n\t<\/script>\n\n    \n\n\n\n<p>Continue reading:<\/p>\n\n\n\n<ul class=\"wp-block-yoast-seo-related-links yoast-seo-related-links\">\n<li><strong><a href=\"https:\/\/iqiglobal.com\/blog\/discover-johors-7-most-richest-neighborhoods-where-malaysias-southern-elite-choose-to-live\/\" target=\"_blank\" rel=\"noreferrer noopener\">Discover Johor&rsquo;s 7 Most Richest Neighborhoods: Where Malaysia&rsquo;s Southern Elite Choose to Live<\/a><\/strong><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/iqiglobal.com\/blog\/johor-real-estate\/\" target=\"_blank\" rel=\"noreferrer noopener\">Guide to the Johor Real Estate Market Outlook (2025-2026)<\/a><\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/iqiglobal.com\/blog\/johor-and-klang-valley-a-growing-partnership-or-rivalry\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Johor and Klang Valley: A Growing Partnership or Rivalry? | Juwai IQI&nbsp;&nbsp;<\/strong><\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/iqiglobal.com\/blog\/johor-singapore-special-zone-opportunities\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Earn in SGD With Your Property: Why Investing in the Johor-Singapore SEZ is a Smart Move!<\/strong><\/a><\/li>\n\n\n\n<li><strong><a href=\"https:\/\/iqiglobal.com\/blog\/real-estate-agent-johor\/\" target=\"_blank\" rel=\"noreferrer noopener\">Johor Property Market is on Fire! Join as Real Estate Agent Now!<\/a><\/strong><\/li>\n<\/ul>\n\n\n\n<p>References and sources:<\/p>\n\n\n\n<ol class=\"wp-block-list has-small-font-size\">\n<li>JS-SEZ &ndash; Steady as it goes, Lee Heng Guie, 7 January 2026 (<a href=\"https:\/\/www.thestar.com.my\/business\/insight\/2026\/01\/07\/js-sez---steady-as-it-goes\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.thestar.com.my\/business\/insight\/2026\/01\/07\/js-sez&mdash;steady-as-it-goes<\/a>) | The Star<\/li>\n\n\n\n<li>Johor govt urges immediate release of JS-SEZ master plan, edited by Presenna Nambiar, 2 July 2026 (<a href=\"https:\/\/theedgemalaysia.com\/node\/809167\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/theedgemalaysia.com\/node\/809167<\/a>) | The Edge Malaysia<\/li>\n\n\n\n<li>JS-SEZ ready for next step, 1 August 2026 (<a href=\"https:\/\/www.thestar.com.my\/news\/nation\/2026\/08\/01\/js-sez-ready-for-next-step\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.thestar.com.my\/news\/nation\/2026\/08\/01\/js-sez-ready-for-next-step<\/a>) | The Star<\/li>\n\n\n\n<li>Malaysia, Singapore to jointly launch JS-SEZ master plan in December, says Akmal Nasrullah, 31 July 2026 (<a href=\"https:\/\/www.malaymail.com\/news\/malaysia\/2026\/07\/31\/malaysia-singapore-to-jointly-launch-jssez-master-plan-in-december-says-akmal-nasrullah\/229782\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.malaymail.com\/news\/malaysia\/2026\/07\/31\/malaysia-singapore-to-jointly-launch-jssez-master-plan-in-december-says-akmal-nasrullah\/229782<\/a>) | Malay Mail<\/li>\n\n\n\n<li>Single permits key to unlocking JS-SEZ potential, September 2026 (<a href=\"https:\/\/www.nst.com.my\/business\/economy\/2026\/09\/1525649\/single-permits-key-unlocking-js-sez-potential\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.nst.com.my\/business\/economy\/2026\/09\/1525649\/single-permits-key-unlocking-js-sez-potential<\/a>) | New Straits Times<\/li>\n\n\n\n<li>CIMB Securities flags diverging outlook between asset classes in Johor, edited by Isabelle Francis, 16 July 2026 (<a href=\"https:\/\/theedgemalaysia.com\/node\/810909\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/theedgemalaysia.com\/node\/810909<\/a>) | The Edge Malaysia<\/li>\n\n\n\n<li>The Edge Malaysia | Olive Tree Property Consultants Johor Bahru Housing Property Monitor 1Q2026: Remaining resilient amid geopolitical uncertainty, 5 June 2026 (<a href=\"https:\/\/theedgemalaysia.com\/node\/804728\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/theedgemalaysia.com\/node\/804728<\/a>) | The Edge Malaysia<\/li>\n\n\n\n<li>Johor election won&rsquo;t hurt property market, 5 July 2026 (<a href=\"https:\/\/www.thestar.com.my\/business\/business-news\/2026\/07\/05\/johor-election-wont-hurt-property-market\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.thestar.com.my\/business\/business-news\/2026\/07\/05\/johor-election-wont-hurt-property-market<\/a>) | The Star<\/li>\n\n\n\n<li>State election unlikely to derail Johor home sales, June 2026 (<a href=\"https:\/\/www.nst.com.my\/property\/2026\/06\/1475943\/state-election-unlikely-derail-johor-home-sales\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.nst.com.my\/property\/2026\/06\/1475943\/state-election-unlikely-derail-johor-home-sales<\/a>) | New Straits Times<\/li>\n\n\n\n<li>Equity market resilient despite Johor volatility, 14 July 2026 (<a href=\"https:\/\/www.thestar.com.my\/business\/business-news\/2026\/07\/14\/equity-market-resilient-despite-johor-volatility\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.thestar.com.my\/business\/business-news\/2026\/07\/14\/equity-market-resilient-despite-johor-volatility<\/a>) | The Star<\/li>\n\n\n\n<li>ohor&rsquo;s data centres could consume 40% electricity demand by 2035, says WoodMac, edited by S Kanagaraju, 18 June 2026 (<a href=\"https:\/\/theedgemalaysia.com\/node\/807442\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/theedgemalaysia.com\/node\/807442<\/a>) | The Edge Malaysia<\/li>\n\n\n\n<li>Powering Johor&rsquo;s Data Centre Boom: Supply, Demand, and Grid Constraints, Alvin Tan, June 2026 | Wood Mackenzie<\/li>\n\n\n\n<li>Singapore&rsquo;s low data centre rate to propel demand in Johor, 1 September 2026 (<a href=\"https:\/\/www.thestar.com.my\/business\/business-news\/2026\/09\/01\/singapores-low-data-centre-rate-to-propel-demand-in-johor\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.thestar.com.my\/business\/business-news\/2026\/09\/01\/singapores-low-data-centre-rate-to-propel-demand-in-johor<\/a>) | The Star<\/li>\n\n\n\n<li>Kerjaya Prospek bags first data centre contract worth RM858 mil, edited by Jason Ng, 3 September 2026 (<a href=\"https:\/\/theedgemalaysia.com\/node\/816701\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/theedgemalaysia.com\/node\/816701<\/a>) | The Edge Malaysia<\/li>\n\n\n\n<li>Sunway Construction bags RM664 mil variation orders, lifts Johor data centre contracts to RM865 mil, edited by Isabelle Francis, 18 June 2026 (<a href=\"https:\/\/theedgemalaysia.com\/node\/807321\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/theedgemalaysia.com\/node\/807321<\/a>) | The Edge Malaysia<\/li>\n\n\n\n<li>IJM Corp unit secures RM1.4 bil data centre project in Johor, its biggest yet, edited by Presenna Nambiar, 15 August 2025 (<a href=\"https:\/\/theedgemalaysia.com\/node\/766764\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/theedgemalaysia.com\/node\/766764<\/a>) | The Edge Malaysia<\/li>\n\n\n\n<li>Belanjawan 2027 perlu penuhi harapan rakyat, rancakkan pembangunan negara &ndash; PM Anwar (<a href=\"https:\/\/mof.gov.my\/portal\/ms\/berita\/akhbar\/belanjawan-2027-perlu-penuhi-harapan-rakyat-rancakkan-pembangunan-negara-pm-anwar\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/mof.gov.my\/portal\/ms\/berita\/akhbar\/belanjawan-2027-perlu-penuhi-harapan-rakyat-rancakkan-pembangunan-negara-pm-anwar<\/a>) | Kementerian Kewangan Malaysia<\/li>\n\n\n\n<li>Belanjawan Johor 2026: Kerajaan negeri peruntuk RM2.546 bilion (<a href=\"https:\/\/berita.rtm.gov.my\/nasional\/senarai-berita-nasional\/senarai-artikel\/belanjawan-johor-2026-kerajaan-negeri-peruntuk-rm2-546-bilion\/\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/berita.rtm.gov.my\/nasional\/senarai-berita-nasional\/senarai-artikel\/belanjawan-johor-2026-kerajaan-negeri-peruntuk-rm2-546-bilion\/<\/a>) | RTM Berita<\/li>\n\n\n\n<li>Johor&rsquo;s economic boost to reach all districts, says MB, March 2026 (<a href=\"https:\/\/www.nst.com.my\/business\/economy\/2026\/03\/1395266\/johors-economic-boost-reach-all-districts-says-mb\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.nst.com.my\/business\/economy\/2026\/03\/1395266\/johors-economic-boost-reach-all-districts-says-mb<\/a>) | New Straits Times<\/li>\n<\/ol>\n<\/body><\/html>\n","protected":false},"excerpt":{"rendered":"<p>RTS opens 1 Jan 2027. JS-SEZ master plan lands December. Our own transaction data, three scenarios, and the risks most forecasts leave out.<\/p>\n","protected":false},"author":39,"featured_media":133296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","postBodyCss":"","postBodyMargin":[],"postBodyPadding":[],"postBodyBackground":{"backgroundType":"classic","gradient":""},"footnotes":""},"categories":[222],"tags":[1257,9696,12274,1186,346],"class_list":["post-133295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-insights","tag-johor-ms","tag-johor-bahru","tag-johor-bahru-property","tag-malaysia-real-estate-market","tag-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.1 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Johor Property Market Forecast 2027: JS-SEZ and RTS Impact<\/title>\n<meta name=\"description\" content=\"The RTS Link opens 1 January 2027 and the JS-SEZ master plan lands in December. Our base, bull and bear cases for Johor property, with the supply data.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Johor Property Market Forecast 2027: What the JS-SEZ and RTS Link Actually Change\" \/>\n<meta property=\"og:description\" content=\"The RTS Link opens 1 January 2027 and the JS-SEZ master plan lands in December. 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Outside work, he enjoys travel, music, theatre, fitness and sharing unconventional perspectives on life.","sameAs":["https:\/\/www.linkedin.com\/in\/amirasraflee\/"],"birthDate":"1998-05-15","gender":"Male","knowsAbout":["SEO & Content"],"knowsLanguage":["English","Bahasa Malaysia"],"jobTitle":"Senior Team Lead Content & SEO (Growth & Branding)","worksFor":"IQI Global","url":"https:\/\/iqiglobal.com\/blog\/author\/amir-asraf-lee\/"},{"@type":"Question","@id":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762273499","position":1,"url":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762273499","name":"When does the Johor Bahru to Singapore RTS Link open?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Passenger service is scheduled to begin on 1 January 2027, connecting Bukit Chagar in Johor Bahru with Woodlands North in Singapore. The journey takes about five minutes and the system is designed for 10,000 passengers per hour in each direction, with roughly 40,000 riders a day expected at launch.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762285209","position":2,"url":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762285209","name":"When will the JS-SEZ master plan be released?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"It is expected to be launched in December 2026 at the Annual Leaders' Retreat, jointly by the Malaysian and Singaporean prime ministers. The launch has been postponed several times, having originally been expected by the end of 2025.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762299750","position":3,"url":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762299750","name":"Is Johor Bahru property in a bubble?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"It depends entirely on the segment. Landed and mass-market housing has been stable, with selective rather than broad price increases. A narrow band of new-launch high-rise near the RTS has been marketed at levels well above the subsale median in the same area, and that specific slice carries genuine correction risk.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762312825","position":4,"url":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762312825","name":"What tax incentives does the JS-SEZ offer?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Qualifying high-value activities can access a special corporate tax rate of 5% for up to 15 years, a 100% investment tax allowance on qualifying capital expenditure, stamp duty exemption on commercial property transactions, accelerated capital allowance on renovation, and a flat 15% personal income tax rate for eligible knowledge workers over 10 years.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762327221","position":5,"url":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762327221","name":"How much supply is coming to the Johor Bahru high-rise market?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Johor Bahru had 108,863 existing serviced apartment units as at the first quarter of 2026, with a further 60,544 units under construction or planned through 2030 to 2031.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762338561","position":6,"url":"https:\/\/iqiglobal.com\/blog\/johor-property-market-forecast-2027\/#faq-question-1788762338561","name":"Will data centres keep driving Johor industrial land prices?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Demand remains strong, but power is the constraint. 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