R&F Princess Cove Phase 3, New Casa Suites, Serviced Apartment, Johor Bahru, Johor
Powered by verified data + DOSM
Generated 29 July 2026
Developer
R&F Properties
Location
Johor Bahru, Johor
Type
Serviced Apartment
Price
RM640k+
Tenure
Freehold
Completion
2024
NewProjek Verdict
- •**Value & Pricing**: Unit pricing from RM640,000 is competitive for serviced apartments in Johor Bahru's mid-range segment, though returns depend on occupancy rates and management efficiency; investors should benchmark against comparable serviced apartment yields (typically 4-6% gross) to assess value proposition.
- •**Location & Connectivity**: Johor Bahru's central location offers accessibility to Singapore via causeway and strong domestic connectivity; however, the absence of nearby MRT connectivity limits appeal for non-driving residents and may constrain long-term demand compared to transit-oriented developments.
- •**Risk & Timing**: 2024 completion timing is imminent with execution risk dependent on developer track record; the serviced apartment segment carries higher operational risk than residential units due to management-dependent returns, and market saturation in Johor Bahru's serviced apartment sector warrants careful demand assessment before commitment.
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
6.9x
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
RM7,712/mo
DOSM 2024
Mean Household Income
RM9,484/mo
DOSM 2024
Households Above RM8k
~43%
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 tenure ensures long-term property ownership and asset appreciation
- • Prime Johor Bahru location with strong rental demand potential
- • R&F Properties' reputable developer backing ensures quality construction standards
- • Serviced apartment offers flexible income generation through short-term rentals
- • Competitive RM640,000 price point for strategic city centre positioning
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.