R&F Princess Cove Phase 3, New Casa Suites, Serviced Apartment, Johor Bahru, Johor
Powered by verified data + DOSM
Generated 14 June 2026
Developer
R&F Properties
Location
Johor Bahru, Johor
Type
Serviced Apartment
Price
RM640k+
Tenure
Freehold
Completion
2024
NewProjek Verdict
- •**Value & Pricing**: RM640,000 entry price is competitive for serviced apartments in Johor Bahru's mid-range segment; however, returns depend heavily on rental demand and management efficiency, with serviced apartment yields typically ranging 3-5% annually.
- •**Location & Connectivity**: The project lacks direct MRT connectivity, limiting appeal for commuters; proximity to Johor Bahru's business district and Cross Border Relationship with Singapore provides moderate accessibility, though reliance on private transport or buses reduces convenience for daily users.
- •**Risk & Timing**: 2024 completion deadline has passed and requires verification of actual handover status; the serviced apartment sector faces saturation risk in Johor Bahru, and investment returns hinge on occupancy rates, which fluctuate with tourism and business travel patterns in an economically sensitive region.
NewProjek Score
6.7
Moderate
- • Developer verification status not confirmed
- • Freehold tenure provides long-term ownership security
- • Priced 68% above area median — premium pricing
Is this project priced fairly?
Johor — Median Condo Prices (Verified)
| Year | Median Price | YoY Change |
|---|---|---|
| 2021 | RM350,000 | — |
| 2022 | RM358,000 | +2.3% |
| 2023 | RM365,000 | +2.0% |
| 2024 | RM372,000 | +1.9% |
| 2025 | RM380,000 | +2.2% |
Est. Monthly Rental
RM2,500–3,400
Based on similar properties in Johor
Gross Rental Yield
5.0%–6.0%
Annual rental / property price
Area Price Trend
+8.6%
Verified data 2021–2025
Price-to-Income
7.8x
National avg: 6.8x
Loan Eligibility by Salary
| Monthly Salary | Max Affordable | Can Afford? |
|---|---|---|
| RM5,000 | RM704k | Stretch |
| RM7,000 | RM1.0 mil | Yes |
| RM10,000 | RM1.5 mil | Yes |
| RM15,000 | RM2.3 mil | Yes |
| RM20,000 | RM3.2 mil | Yes |
Based on 4.5% interest, 35-year tenure, 70% DSR, RM500 existing commitments, 90% loan margin
DOSM income data for Johor
Median Household Income
RM6,879/mo
DOSM 2022
Mean Household Income
RM8,517/mo
DOSM 2022
Households Above RM8k
~39%
Estimated for Johor
Similar projects in Johor
| Project | Location | Price From | Status |
|---|---|---|---|
| D'Putra Suites | Kulai | RM322k | Completed |
| Harmoni Permai @ Bandar Universiti Pagoh | Muar | RM349k | New Launch |
| Laman Bayu @ Bandar Putera Indah, Batu Pahat | Batu Pahat | RM369k | Completed |
Why Consider
- • Freehold title offers permanent ownership and strong asset value
- • Strategic Johor Bahru location near Singapore border for investors
- • Serviced apartment with rental income potential and management support
- • Reputable R&F Properties developer ensures quality construction and reliability
- • Competitive RM640,000 pricing in high-demand Iskandar Malaysia region
Risk Factors
- • Under construction — completion delays are possible
- • Premium pricing relative to area median may limit resale upside
- • No MRT/LRT station listed nearby — may affect future demand
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Disclaimer: This report is generated using publicly available data from the government, DOSM, and developer disclosures. Rental estimates, yield projections, and risk assessments are indicative only and do not constitute financial advice. Market conditions may change. Consult a licensed property valuer or financial advisor before making investment decisions. NewProjek is not responsible for any decisions made based on this report.