RN Princess Cove: New Record Selling Price
This article provides an update on RN Princess Cove (RNF), a property project in Johor Bahru. The latest news highlights a new record selling price achieved in the development.
Record-Breaking Price per Square Foot
RN Princess Cove has reached a new milestone with units in its B13 block being sold for 2,000 Ringgit per square foot. This is a significant achievement, as such a price hasn't been seen in Johor Bahru property for over a decade. This new price point is considered a landmark moment for the development.
RN Princess Cove Phase 2 Overview
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Phase 2 consists of 10 blocks.
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Nine of these blocks have been almost fully sold.
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The remaining block, B13, is considered the best due to its superior views.
B13 Block Details
The developer recently released a limited number of units in the highly anticipated B13 block to test the market. These units are priced at 2,000 Ringgit per square foot, translating to the following approximate prices:
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Two-bedroom (Type G): 1.9 million Ringgit
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Three-bedroom (Type M1): 2.3 million Ringgit
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Four-bedroom (Type H1): 3 million Ringgit
These prices are unprecedented for RNF, initially causing surprise amongst agents. Despite the high price, bookings have already been made, indicating demand for the premium views and location.
Advantages of B13
B13 boasts several advantages, including:
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Superior Views (CVs): Residents can enjoy panoramic views of Singapore, Bukit Indah, Woodlands, and even Marina Bay on clear days. The views extend to Danga Bay and Forest City as well.
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Prime Location: B13 is the closest block to the opera house, entertainment venues, and high-end F&B restaurants within RNF.
Affordability Compared to Singapore
While the price may seem high for Johor Bahru, it's relatively affordable compared to Singapore. A two-bedroom unit at 1.9 million Ringgit (approximately 600,000 Singapore dollars) would be difficult to find in Singapore, especially with freehold status, good location and desirable views.
Alternative Options: Balance Units
For buyers seeking more affordable options, there are balance units available in the previously sold blocks.
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These are units that were either canceled by earlier buyers or converted from bumiputra quota to international quota.
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The developer releases these units in batches.
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These units may not have the best views but are priced significantly lower (around 1,200-1,300 Ringgit per square foot).
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However, securing these units can be competitive.
Resale Market Opportunities
Another option is to explore the resale market in both Phase 1 and Phase 2 of RNF. Phase 1 units might be found closer to 1,000 Ringgit per square foot. Keep in mind that resale purchases involve additional costs such as legal fees and stamp duties, amounting to approximately 6% for foreigners and 3-4% for Malaysians.
Living in RN Princess Cove Phase 2
Phase 2 is now occupied, with more residents expected to move in as key collections continue, particularly for the B1 block. Rental prices have remained stable, indicating a positive outlook for investors.
Contact Information
For those interested in buying, selling, or renting in RN Princess Cove, non-obligatory site visits can be arranged. Contact for further information on available units and the buying process.
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