This article discusses the current status of R&F Princess Cove in Johor Bahru (JB), Malaysia, as of May 2025, and explores the available options for potential buyers. Ryan Cool, Director of Alpha Marketing Malaysia, property investor and agent with ERA Singapore and Malaysia, provides insights based on his experience and knowledge of the JB property market. He is known for his expertise on JB real estate and retirement options.
Introduction
Many people have been interested in R&F Princess Cove and its current status. Ryan Cool's first video about it was in May 2023, with subsequent walkthrough videos generating significant views. The project has been a popular consideration for those interested in JB property.
Why R&F Princess Cove is Popular
R&F Princess Cove has several attractive features:
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Freehold: The property offers freehold ownership.
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Completed Phases: Phases 1 and 2 are already completed, allowing immediate occupancy.
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Sea Views: Majority of the units offer sea views.
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Large Site Size: The condo complex offers ample space and facilities.
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Good Track Record: The development boasts a strong transaction history for both rentals and sales.
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Integrated Development: R&F Princess Cove includes a shopping mall with a supermarket, cinema, and various food options.
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Walking Distance to RTS: Its proximity to the Rapid Transit System (RTS) is a major advantage, unlike many projects that require driving.
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Decent Rental Yields: Rental yields are attractive, reaching up to 4.5% or higher for smaller units.
Can You Still Buy? Available Options
While some believe R&F Princess Cove is fully sold, there are still ways to purchase a unit:
- Completed Developer Units (Phase 2): Purchasing directly from the developer in Phase 2.
- Resale (Secondary Market): Buying from existing owners in Phase 1 or Phase 2.
- Phase 3: Purchasing a unit in the upcoming Phase 3.
Option 1: Completed Developer Units in Phase 2
Why are units still available? There are several reasons:
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Bumiputra Release: Units initially reserved for Bumiputra buyers (Malay or indigenous groups) are being released to the international market. These are released in batches and represent approximately 10% of the stock.
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Canceled Purchases: Units that were purchased but later canceled.
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Contractor Sales: Units initially given to contractors as payment are being sold.
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Prime Units: A few units in prime blocks with excellent sea views are available at a higher price (around 2,000 per square foot).
Approximately 10% of Phase 2 units are still available. The developer prefers cash buyers, as loan approvals may be limited. Benefits include viewing the actual unit, its brand-new condition, sea views, and easy rental opportunities.
Alpha Marketing Malaysia runs a full-service property management team in R&F Princess Cove, handling defects, furnishing, rentals, tenant management, and Airbnb services.
Option 2: Resale Units
Buying resale units offers potential benefits:
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Negotiation: Prices may be negotiable with individual owners.
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Bank Loans: Higher loan amounts (up to 70%) may be available.
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View Actual Unit: Inspect the exact unit you are purchasing.
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Renovations/Furnishings: Units may be already renovated or furnished.
Ryan Cool listed a few resale options including a 3-bedroom in Phase 2, a 2-bedroom in Phase 1, and a 3-bedroom in Phase 1 without a sea view.
Option 3: R&F Princess Cove Phase 3
Many are unaware of the upcoming Phase 3.
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Launch: Tentatively scheduled for June (or possibly July) 2025.
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Location: Located next to Phase 1.
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Construction: Has already started.
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Completion: Expected in four years (2029).
Positives of Phase 3:
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Attractive Pricing: Starting from 9xx per square foot, cheaper than Phase 2.
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Progressive Payments: Payments are made in stages as construction progresses.
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Modern Design: Interior design will be more contemporary.
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Sports Facilities: Focus on sports facilities, including a badminton court, basketball court, and Olympic-sized swimming pool.
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Large Layouts: Generous layouts suitable for families.
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Financing: Financing is expected to be available through banks like Maybank and RHB.
Negatives of Phase 3:
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Limited Sea Views: Most units may not have a sea view.
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Waiting Period: Requires a four-year wait for completion.
The interior design of Phase 3 will feature a modern aesthetic with light wood and different tile choices.
Phase 3 will be launching soon with the following tentative pricing:
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1-Bedroom: From 540k onwards
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2-Bedroom: From 850k onwards
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3-Bedroom: 1 million onwards.
RTS Completion and Future Demand
The RTS is expected to be completed by December 2026. This will likely increase demand for properties in JB, including R&F Princess Cove, as it will facilitate easier access for Singaporeans.
Conclusion
R&F Princess Cove offers various options for potential buyers. Whether you choose a completed developer unit, a resale property, or a unit in the upcoming Phase 3, understanding the pros and cons of each option is crucial. With the impending completion of the RTS, the demand for JB properties is expected to rise, making R&F Princess Cove a potentially worthwhile investment.
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