The residential property sector in Johor has seen improved sales performance with 44.2% of the 7,926 new units launched in 2017 sold, according to the Malaysian Property Market Report 2017 released by the Valuation and Property Services Department (JPPH) on Tuesday (April 17).
The number of new launches last year was 15.6% lower than the 9,393 units registered in 2016 when only 29.8% of the units were sold.
Most of the new units in 2017 were 2-storey terraced houses priced between RM500,000 and RM1 million, which accounted for 4,883 units or 61.6% of the total.
Meanwhile, completions of residential units in Johor were down by 26.3% y-o-y to 9,449 units last year, while starts and new planned supply decreased by 22.7% and 10.4% to 12,264 units and 11,150 units, respectively.
As at end-2017, there were 788,584 existing residential units with another 80,354 units in incoming supply and 90,353 units in planned supply.