In 2025, Johor recorded 42,566 residential property transactions — almost identical to the 42,565 transactions recorded in 2024.
2025 年，柔佛共录得 42,566 宗住宅交易——与 2024 年的 42,565 宗几乎一模一样。
On the surface, that looks like a market standing still.
表面看来，这个市场似乎原地踏步。
But the total value of those transactions tells a different story.
但这些交易背后的总值，却讲述了另一个故事。
2025: 42,566
2025: RM20,935.86M
Source: NAPIC Southern Region Property Market Report 2025.
数据来源：NAPIC 《南部产业市场报告 2025》。
Almost the same number of homes changed hands — yet roughly RM300 million more moved through the market. Same volume. Higher value. So what actually happened?
几乎相同数量的房子换了主人，市场上流通的资金却多了约 3 亿令吉。交易量相同，总值却更高。这中间，到底发生了什么？
What Could Explain the Higher Transaction Value?
什么因素可能推高了交易总值？
When transaction volume remains unchanged but total transaction value rises, the average value per transaction increases. In Johor, the estimated average rose from approximately RM484,950 in 2024 to RM491,840 in 2025—an increase of about 1.4%.
当交易宗数保持不变，但总交易值上升时，代表平均每宗交易的金额有所提高。在柔佛，估算的平均每宗住宅交易值从 2024 年约 RM484,950，上升至 2025 年约 RM491,840，增幅约为 1.4%。
However, this does not automatically mean that every Johor home appreciated by 1.4%. The change could reflect higher selling prices, a different mix of properties being transacted, more activity in higher-priced locations or property categories, or a combination of these factors.
不过，这并不代表柔佛每一套住宅都升值了 1.4%。这个变化可能来自成交价格上升、交易中的房产类型发生改变、较高价地区或房产类别的交易增加，或者多种因素共同造成。
NAPIC's statewide totals show us what changed at the overall market level, but they do not identify exactly which projects, locations or property types caused the increase. More detailed transaction data would be required before drawing that conclusion.
NAPIC 的全州数据只能告诉我们整体市场发生了什么变化，却无法确认究竟是哪些项目、地点或房产类型推动了总值上升。要得出更具体的结论，还需要更详细的交易数据。
For investors, the figures should be treated as a reason to investigate further—not as proof that every township or development performed equally. Market performance can differ considerably according to property type, price range, location and project fundamentals.
对投资者而言，这些数字应该成为进一步研究的起点，而不是所有市镇或楼盘都表现良好的证明。不同房产类型、价格区间、地点和项目基本面，可能带来完全不同的表现。
- Johor completed almost exactly the same number of residential transactions in 2025 as in 2024.
- Total residential transaction value increased by approximately RM293.87 million.
- The estimated average value per transaction increased by around 1.4%.
- 柔佛 2025 年的住宅交易宗数与 2024 年几乎完全相同。
- 住宅交易总值增加了约 RM293.87 million。
- 估算的平均每宗交易值上升了约 1.4%。
- That every Johor property increased in value.
- Which districts, projects or property types caused the increase.
- Whether Johor's rental demand increased.
- Whether a buyer is guaranteed future appreciation.
- Whether a particular property is fairly priced.
- 柔佛每一套房产都升值了。
- 哪些地区、项目或房产类型推动了增长。
- 柔佛的租赁需求是否增加。
- 买家未来一定能够获得资本增值。
- 某一套具体房产的开价是否合理。
Infrastructure Can Create Demand—but Only in the Right Locations
基建能创造需求——但仅限于对的地点
One of the most cited reasons for renewed buyer interest in Johor is the Johor Bahru–Singapore Rapid Transit System (RTS) Link, connecting Bukit Chagar to Woodlands North. Malaysia's Ministry of Transport and MRT Corp, the project's implementing agencies, list the RTS Link among the country's active new rail projects.
柔佛买家兴趣回温，最常被提起的原因之一，就是连接武吉查卡与兀兰北的新柔捷运（RTS Link）。马来西亚交通部与项目实施机构MRT Corp，都将 RTS 捷运列为国内正在推进的新铁路项目之一。
Infrastructure like the RTS Link can genuinely lift demand for property near stations, corridors and transit-linked townships. But "benefiting from infrastructure" is not the same as "being located somewhere on the map near it."
像 RTS 捷运这样的基建，确实能提升车站、沿线走廊与交通导向型市镇周边房产的需求。但「受惠于基建」与「地图上位置靠近基建」，是两回事。
Two properties can sit roughly the same straight-line distance from a station or checkpoint and attract completely different levels of tenant and buyer interest, depending on actual walkability, traffic patterns and last-mile connectivity. We explored this in detail in Is Buying Property Near RTS Always a Good Investment? — the short version is that proximity on a map is only the starting point of the analysis, not the conclusion.
两套房产与车站或关卡的直线距离可以完全相同，但实际的步行体验、交通状况与最后一里路的接驳方式不同，吸引到的租客与买家兴趣也可能天差地别。我们在《买RTS附近的房子，一定是好投资吗？》一文中详细探讨过这一点——简单来说，地图上的距离只是分析的起点，而不是结论。
According to MRT Corp, the approximately four-kilometre RTS Link will connect Bukit Chagar with Woodlands North. It is designed for up to 10,000 passengers per hour in each direction, with an estimated six-minute train journey between the two stations. Malaysia's Ministry of Transport currently targets service commencement by the end of December 2026.
根据 MRT Corp，新柔捷运全长约四公里，连接柔佛新山的武吉查卡与新加坡兀兰北。系统设计容量为每小时每个方向最多 10,000 名乘客，两站之间的预计列车行程约为六分钟。马来西亚交通部目前的目标，是在 2026 年 12 月底开始载客服务。
However, the six-minute figure refers only to the train journey between the stations. A resident's actual commute may also include travelling from home to Bukit Chagar, waiting time, immigration clearance and onward transportation from Woodlands North.
不过，六分钟仅指两座车站之间的列车行程。居民的实际通勤时间，还可能包括从住家前往武吉查卡、候车、通关以及从兀兰北前往最终目的地所需的时间。
A Higher Price Does Not Guarantee a Better Investment
价格更高，不代表投资更好
It's tempting to read a rising transaction value as proof that "Johor property is going up," and treat any purchase as a safe bet. That reasoning skips a step.
看到交易总值上升，很容易就直接解读为「柔佛房产在涨」，进而认为随便买都安全。但这个推理跳过了关键的一步。
A higher average transaction value can also reflect a shift toward larger units, higher-end developments or specific hotspots — without every existing property in the state becoming worth more. Meanwhile, a property bought at a low price is not automatically a good investment if it can't attract genuine, sustained tenant or buyer demand. We cover this trade-off in Why Cheap Property Can Become the Most Expensive Investment — the same logic applies in reverse to Johor's headline transaction figures.
平均交易值上升，也可能只是反映买家转向更大的单位、更高端的楼盘，或特定的热点区域——而不是全州每一套现有房产都在增值。与此同时，一套以低价买入的房产，如果无法吸引到真实、持续的租客或买家需求，也不会自动变成一笔好投资。我们在《为什么最便宜的房子，最后反而最贵？》中探讨过这个取舍——同样的逻辑，反过来同样适用于柔佛这个整体交易数字。
A rising number is a starting point for questions, not a substitute for due diligence on a specific property.
数字上升，是提出问题的起点，不能取代你对一套具体房产该做的尽职调查。
Supply Still Matters
供应量依然是关键
Even in locations with genuine demand drivers, supply is the other half of the equation.
即使是那些拥有真实需求支撑的地点，供应量依然是这个方程式的另一半。
When several developments compete for the same pool of tenants — particularly newer projects completing around the same time — landlords may need to lower asking rents, absorb longer vacancy periods, or offer incentives to secure tenants. That directly affects what an investor actually earns, which is rarely the same as the figure advertised at launch.
当多个楼盘争夺同一批租客——尤其是完工时间相近的新盘——房东可能得调低开价租金、承受更长的空置期，或提供额外优惠才能找到租客。这直接影响投资者实际能赚到的金额，而这个数字，很少与开盘时宣传的数字相同。
NAPIC's report also shows why competing supply deserves attention. In Johor, unsold completed residential units increased from 2,964 in 2024 to 3,705 in 2025. Unsold residential units under construction increased from 6,245 to 8,108 during the same period.
NAPIC 的报告也说明了为什么竞争供应量值得关注。柔佛已建成但尚未售出的住宅单位，从 2024 年的 2,964 套增加至 2025 年的 3,705 套；仍在施工但尚未售出的住宅单位，则从 6,245 套增加至 8,108 套。
These are statewide figures and do not mean that every Johor location is oversupplied. However, they reinforce the need to examine competing projects, upcoming completions and the tenant pool in the specific area being considered.
这些是柔佛全州的数据，并不代表柔佛每一个地区都供应过剩。不过，这些数字提醒买家，在评估一套房产时，必须进一步了解该地区的竞争项目、未来完工量以及实际租客群体。
To judge a property honestly, investors should work from actual costs, not just gross rent.
要诚实地评估一套房产，投资者应该从实际成本出发，而不是只看毛租金。
Maintenance fees alone can meaningfully affect this calculation — and a low fee isn't automatically a good sign, as we explain in Condo Maintenance Fees in Malaysia. Rental demand, not just a headline transaction value, is what ultimately supports a property's price — a theme we return to in Why Rental Demand Matters More Than Launch Discounts.
光是管理费,就足以对这个计算产生实质影响——而费用低,并不自动代表是好事,我们在《马来西亚公寓管理费》一文中解释过原因。真正支撑房产价格的,是租赁需求,而不只是一个笼统的交易总值数字——这也是我们在《为什么租赁需求比开盘折扣更重要》中反复强调的主题。
Flat transaction volume combined with higher total value means the average value per transaction increased. It does not reveal whether this came from general price growth, a shift towards higher-value properties, stronger activity in selected locations or a combination of these factors.
交易宗数保持平稳、总交易值上升，代表平均每宗交易值有所增加。但这些整体数据无法单独证明，增长究竟来自普遍价格上升、更多高价房产成交、特定地区交易增加，还是多种因素共同造成。
What Should Buyers Look for in 2026?
2026 年，买家该留意什么？
Given all of this, five factors deserve close attention before committing to a Johor property in 2026.
综合以上，在 2026 年决定入手一套柔佛房产之前，有五个因素值得仔细留意。
Tenant Profile
租客画像
Who would realistically rent or buy this property, and what do they actually prioritise — commute time, budget, lifestyle or school access?
现实中，谁会租下或买下这套房产？他们真正在意的是什么——通勤时间、预算、生活方式，还是学校的距离？
Practical Connectivity
实际交通便利性
Not the distance on a map, but the real walking route, traffic pattern and transport options a tenant would use every day.
不是地图上的距离，而是租客每天实际会走的路线、真实的交通状况与可用的交通方式。
Sustainable Monthly Costs
可持续的每月成本
Maintenance fees, assessment, quit rent, insurance and realistic upkeep — weighed against the rent the unit can genuinely command.
管理费、门牌税、地税、保险与实际维护开销——是否与这套单位能真正收取的租金相匹配。
Competing Supply
竞争供应量
How many similar units are completing nearby in the next two to three years, and how that could affect asking rents and vacancy.
未来两到三年内，附近有多少类似单位即将完工？这将如何影响开价租金与空置率。
Future Resale or Exit Demand
未来的转售或退场需求
Whether the property will still be attractive to the next buyer or tenant once today's launch incentives are gone.
等到今天的开盘优惠都消失之后，这套房产对下一位买家或租客，是否依然有吸引力。
The Bigger Lesson
更大的启示
Johor's 2025 figures show that residential transaction volume remained stable while total value increased. This may reflect price changes, a different mix of properties being transacted, stronger activity in particular market segments or a combination of these factors—but the statewide totals alone cannot tell us which explanation contributed most.
柔佛 2025 年的数据显示，住宅交易宗数保持稳定，而总交易值有所上升。这可能来自价格变化、成交房产类型的改变、特定市场领域的交易增加，或多种因素共同造成。不过，仅凭全州整体数据，无法确定哪一种原因的影响最大。
For buyers, the lesson is not that every Johor property will appreciate. It is that headline market figures should be followed by project-level research into location, tenant demand, competing supply, ownership costs and future resale demand.
对买家而言，重点并不是所有柔佛房产都会升值，而是在看到整体市场数据之后，继续针对具体项目研究地点、租客需求、竞争供应、持有成本与未来转售需求。
The right question for 2026 is not simply, "Did Johor's transaction value rise?"
It is:
"Does this specific property have enough genuine buyer or tenant demand to justify its asking price?"
2026 年真正应该问的，不只是：
"柔佛的住宅交易总值是否上升了？"
而是：
"这套具体的房产，是否拥有足够真实的买家或租客需求，来支撑它目前的开价？"
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