Sales for the Princess Cove condominium project in Johor Bahru have picked up significantly in 2023, especially during the April to September period, due to the Rapid Transit System (RTS) Link.
When Chinese developer R&F launched its second phase of sales for the Princess Cove condominium in Johor Bahru in 2018, it sold an estimated 30 per cent of its nearly 3,800 apartments by the end of the year. The company expected sales momentum to continue for the project, which is less than 10 minutes away from the JB checkpoint on foot. But the Covid-19 pandemic struck, forcing the closure of international borders, including the land crossings between Johor and Singapore.
“During the pandemic, there was some despair, especially when the borders were closed. (Property) prices also fell to lower points,” said R&F deputy general manager Xu Jie. But in 2023, sales for the project picked up significantly, especially during the April to September period, which saw five times more transactions than in the same period in 2022, Mr Xu said. He added that the heightened interest is largely due to the Rapid Transit System (RTS) Link, with its rail viaduct and trestle bridge now taking shape across the Strait of Joho
Chinese Developer Sales Princess Cove Johor Bahru Condominium Covid-19 Pandemic Rapid Transit System (RTS) Link
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