R&F Princess Cove: A Review of Johor Bahru's Market
The Johor market has seen significant activity recently. This article explores R&F Princess Cove in Johor Bahru, examining its features, advantages, and disadvantages.
Overview of R&F Princess Cove
R&F Princess Cove currently has two completed phases. Phase one, which includes Airbnb accommodations, and phase two. Phase three is also under development. Phase one consists of 15 residential towers with a total of 3,472 units. Phase two adds another 3,584 units, bringing the total to approximately 7,000 units between the two phases. The key question is whether the demand in this area can sustain such a large supply, especially considering other upcoming projects near the CIQ (Customs, Immigration, and Quarantine) complex.
Rental Market
Studio units in Princess Cove are reportedly renting for around RM 2,000 to RM 2,400 per month. Room rentals vary: master bedrooms with private bathrooms fetch approximately RM 1,600 to RM 1,800 monthly, while middle rooms without attached bathrooms range from RM 2,400 to RM 2,500 per month. Currently, the rental market seems healthy within R&F Princess Cove.
Sales Gallery and Connectivity
The sales gallery has a modern design with good ventilation and natural light. However, its open design presents a challenge during rain. A flat space provides a crossing, but covered spaces would be more practical for inclement weather.
Many shops on the ground floor are open, especially coffee shops. However, the second and third floors have a number of vacant units, potentially indicating that demand is not yet at its peak. A bridge connects phase one and phase two. Further, there will be a bridge will connect phase two to CIQ.
Proximity to CIQ and Singapore
A bridge connects R&F to CIQ. However, due to the ongoing construction of the RTS (Rapid Transit System), the bridge access is currently partially closed. Residents need to detour to reach the bridge. When the RTS is completed around 2026, the bridge connection will be direct. The walk from R&F to CIQ is about 10 minutes, a major selling point for the development due to its convenience for those working in Singapore.
R&F Princess Cove is a large development, spanning over 116 acres and divided into several phases. New phases are reportedly selling for RM 3,000 to RM 4,000 per square foot. The proximity to CIQ and Singapore is a significant advantage. Traffic heading towards Singapore is heavy in the mornings, with many people commuting for work.
Facilities
The gathering place is accessible only via a security card. The facilities include ceramic tiles. The first floor is designated as the ground floor, unlike many buildings in Malaysia. Basement levels are labeled as negative numbers.
The development prioritizes residents through a small number of units per floor which makes it stand out. Additionally, it ensures many units have a view. Condo facilities include a swimming pool and gym, surrounded by greenery. A jogging path also exists. While the facilities appear attractive, close inspection reveals some imperfections in the workmanship. The development includes ramps for wheelchair accessibility. However, exposed water tanks detract from the aesthetic appeal.
Pros and Cons of R&F Princess Cove
Pros:
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Location: Proximity to Johor-Singapore causeway, ideal for those working in Singapore.
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Amenities: Shophouses and a waterfront promenade offer a resort-style living experience.
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Investment Potential: Strong rental demand and the upcoming RTS are likely to increase property values.
Cons:
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Price: Higher price point compared to other developments in Johor Bahru.
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Competition: Faces competition from other projects offering similar features.
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Traffic: Heavy traffic during peak hours due to proximity to the causeway.
Ultimately, the suitability of R&F Princess Cove depends on individual preferences.
Webinar Offer
Due to the wide array of prices in JB, as well as the difficulty of knowing which properties are the right fit, an online webinar is being offered to show the good and bad of all top projects in JB.