JLL Malaysia managing director Jamie Tan said the city’s average transaction prices for serviced apartments jumped 20.4% year-on-year, while double-storey terrace houses climbed 8.6%, Bernama reported.

He said the spike was driven by renewed interest from both local and regional buyers, aided by major infrastructure upgrades and spillover benefits from the JS-SEZ.

“Critical infrastructure improvements underpin the zone’s development, including the Rapid Transit System (RTS) Link connecting Johor Bahru and Singapore, offering an alternative mode of cross-border commute,” he said in a statement today.

The 4km rail link, set to be operational by December 2026, will cut cross-border travel to just six minutes and carry up to 10,000 passengers per hour in each direction.

Tan said the timing of the zone’s launch was “fortuitous”, coinciding with soaring business costs in Singapore and Malaysia’s push to become a regional digital hub.

“These factors have created a strong pull for many manufacturing and service industries to relocate or establish ‘twin’ facilities in Johor, allowing them to optimise costs while maintaining proximity to Singapore’s market and connectivity,” he said.

Launched on Jan 8, the JS-SEZ covers 3,288 sq km across nine areas in Iskandar Malaysia and Pengerang, nearly five times the size of Singapore.