Is Johor Oversupplied? What the Data Actually Says | 柔佛供过于求吗？数据到底怎么说

When people say Johor is oversupplied, they are almost always quoting a figure for the whole state. Johor includes Kulai, Pasir Gudang, Gelang Patah, Masai and Iskandar Puteri, and the official data does not break out Johor Bahru city separately — so a state number cannot tell you whether the city centre is overbuilt.当有人说柔佛供过于求时，他们引用的几乎都是整个柔佛州的数字。柔佛包括古来、巴西古当、振林山、马西和依斯干达公主城，而官方数据并没有把新山市单独列出来——所以一个全州的数字，无法告诉你市中心是否建得太多。

Last checked: 14 Oct 2026.最后核对：2026年10月14日。

What the official data says about Johor the state官方数据对柔佛全州的说法

NAPIC, the government’s property information centre, publishes Johor as a single state figure. In its Southern Region report for the first half of 2026:国家产业资讯中心（NAPIC）把柔佛作为一个州的整体公布数据。在2026年上半年的南部区域报告中：

• 4,222 unsold completed homes in Johor, up from 3,705 at the end of 2025 and 3,209 a year earlier. The trend is rising.柔佛有4,222个已完工但未售出的住宅单位，高于2025年下半年的3,705个和一年前的3,209个。趋势在上升。
• 6,697 new launches, of which 2,445 sold — a sales performance of 36.5%, down from 40.4% a year earlier.新推出6,697个单位，售出2,445个，销售表现为36.5%，低于一年前的40.4%。
• 10,329 unsold completed serviced apartments and SOHOs.已完工但未售出的服务式公寓与SOHO共10,329个单位。

That last figure is the one to pay attention to. Serviced apartments are the product type most common in the city centre near the CIQ, and the unsold completed stock of them is more than twice the entire residential overhang.最后这个数字最值得注意。服务式公寓正是关卡一带市中心最常见的产品类型，而这类已完工未售出的存量，超过整体住宅滞销量的两倍。

So where are those 10,329 unsold units?那10,329个未售出的单位，到底在哪里？

This is the question that actually matters, and the honest answer is that nobody publishes it. NAPIC reports Johor as one state figure, with no breakdown by district, mukim or township. We checked NAPIC’s reports, its property stock tables and the published research commentary. No locality breakdown exists anywhere.这才是真正重要的问题，而诚实的答案是：没有人公布。NAPIC只按州公布柔佛的数据，没有按县、mukim或小区细分。我们查过NAPIC的报告、产业存量表，以及公开的研究评论，任何地点细分都不存在。

The closest statement is a report of NAPIC’s first-quarter 2026 data saying the unsold completed serviced apartments are “almost all located in JB”. Read that carefully: “JB” there means the Johor Bahru district, an administrative area that also contains Iskandar Puteri, Puteri Harbour, Medini, Danga Bay, Pasir Gudang and Tanjung Kupang. It is not the city centre.最接近的说法，是一则引述NAPIC 2026年第一季数据的报道，称这些已完工未售出的服务式公寓「几乎全部位于JB」。这句话要仔细读：这里的「JB」指的是新山县，一个行政区域，同时涵盖依斯干达公主城、Puteri Harbour、美地尼、丹加湾、巴西古当和丹绒古邦。它不等于市中心。

Two older official statements point the same way. In June 2023 the state housing exco described unsold serviced apartments above RM500,000 as being “around Johor Baru and Iskandar Puteri”. In February 2025 the same exco said about 90% of Johor’s overhang was serviced apartments priced from RM500,000, again with no locality split.两则较早的官方说法也指向同一点。2023年6月，州房屋行政议员形容50万令吉以上未售出的服务式公寓分布在「新山与依斯干达公主城一带」。2025年2月，同一位议员表示柔佛约九成的滞销单位是50万令吉起的服务式公寓，同样没有地点细分。

So anyone who tells you the city centre specifically is glutted is going beyond the data. So is anyone who tells you it is not. What the figures establish is the product type and the price range — serviced apartments above RM500,000, somewhere across a district that stretches from the Causeway to the Second Link.所以，任何人告诉你市中心特别过剩，都已经超出数据所能支持的范围；告诉你市中心完全没问题的，也一样。这些数字能确立的，是产品类型和价格区间——50万令吉以上的服务式公寓，分布在一个从长堤延伸到第二通道的县内。

What the data does not say数据没有说的部分

No public source publishes an occupancy or vacancy rate for homes in Johor Bahru. NAPIC publishes Johor occupancy for shopping complexes (74.2%) and offices (66.3%), but not for homes. So if an agent tells you rentals in the city centre are “basically full”, ask where the number comes from. There isn’t one.没有任何公开来源公布新山住宅的入住率或空置率。NAPIC只公布柔佛购物中心（74.2%）和办公楼（66.3%）的入住率，住宅没有。所以，如果有经纪告诉你市中心「基本都租满了」，不妨问问数字从哪里来。其实并不存在这样的数字。

The pipeline, which is real确实存在的新供应

• 609 projects with nearly 115,000 homes are due to complete in Johor by 2030. Of those, 244 projects and about 70,460 homes are in the Johor Bahru district (DOSM and NAPIC data, reported October 2026).到2030年，柔佛将有609个项目、接近115,000个住宅单位完工。其中244个项目、约70,460个单位位于新山县（统计局与NAPIC数据，2026年10月报道）。
• Research firm CBRE WTW counted 32,783 future high-rise units in Iskandar Malaysia, with completions peaking around 2029.研究机构CBRE WTW统计，依斯干达大马未来有32,783个高楼单位，完工量预计在2029年前后达到高峰。

The other side, also real另一面，也同样真实

• Unsold completed high-rise residential units in Johor number 814, and that figure has fallen about 24% year on year.柔佛已完工未售出的高楼住宅为814个单位，按年下降约24%。
• NAPIC’s own scheme examples show some city-centre SOHO rents up 11 to 12%.NAPIC自己的个案显示，部分市中心SOHO租金上涨11%至12%。
• In October 2026 there were 224 rental listings around Bukit Chagar on PropertyGuru, with whole units asking roughly RM2,400 to RM3,500 a month. That is an active rental market, not a dead one.2026年10月，PropertyGuru上Bukit Chagar一带有224个出租挂牌，整套单位的叫价约为每月RM2,400至RM3,500。这是一个活跃的租赁市场，不是停滞的市场。

So what should a buyer do with this买家该怎么运用这些资讯

1. Ask which product type you are buying. The verified risk sits in serviced apartments and SOHOs, not in high-rise residential. Most new stock near the CIQ is serviced apartment on commercial title. Our project pages state the title type.先问清楚你买的是哪一类产品。已核实的风险集中在服务式公寓和SOHO，而不是高楼住宅。关卡附近的新供应大多是商业地契的服务式公寓。我们的项目页面都会注明地契类型。
2. Ask when your building completes, and what else completes that year. A 2029 handover lands in the busiest year in the pipeline. A 2027 or 2028 handover does not.问清楚你的楼几时交，以及那一年还有什么一起交。2029年交楼，正好落在供应最密集的一年；2027或2028年则不同。
3. Judge rent on comparable buildings, not on a promise. Every project page has a “Today’s rental market” section that compares like with like, using dated asking rents.用同类楼盘来判断租金，而不是听承诺。每个项目页面都有「今日租赁市场」，以同类对比，并注明日期的叫价租金。

Projects worth comparing on these terms可以按这些条件比较的项目

See all projects in JB City Centre.查看新山市中心的所有项目。

Frequently asked questions常见问题

Is Johor Bahru oversupplied?新山是不是供过于求？

No official data answers that question, because NAPIC reports Johor at state level only. What is verified is that Johor state had 4,222 unsold completed homes and 10,329 unsold completed serviced apartments in the first half of 2026.没有官方数据能回答这个问题，因为NAPIC只按州公布。能核实的是：2026年上半年，柔佛州有4,222个已完工未售出的住宅单位，以及10,329个已完工未售出的服务式公寓。

Are rentals in the city centre full?市中心的房子都租满了吗？

Nobody can prove that. No public source publishes an occupancy rate for homes in Johor Bahru. Asking rents near Bukit Chagar in October 2026 ran about RM2,400 to RM3,500 a month for whole units.没有人能证明这一点。没有公开来源公布新山住宅的入住率。2026年10月，Bukit Chagar一带整套单位的叫价租金约为每月RM2,400至RM3,500。

When does supply peak?供应高峰在什么时候？

Research firms expect high-rise completions in Iskandar Malaysia to peak around 2029.研究机构预计，依斯干达大马的高楼完工量将在2029年前后达到高峰。

Does oversupply mean prices will fall?供过于求是不是代表房价会跌？

We do not forecast prices. More competing units at handover generally means more competition for tenants in that year, which is why the completion year is worth asking about.我们不预测房价。交楼那一年竞争的单位越多，争取租客的竞争通常也越激烈，所以完工年份值得问清楚。

Which is riskier, a condo or a serviced apartment?公寓和服务式公寓，哪个风险比较高？

On the verified figures, unsold completed stock is far higher for serviced apartments and SOHOs than for high-rise residential. That is a supply observation, not advice about a specific building.从已核实的数字看，服务式公寓和SOHO的已完工未售出存量，远高于高楼住宅。这是对供应的观察，不是针对某栋楼的建议。

Talk to us联络我们

Want to know what else completes the same year as the project you are looking at? WhatsApp us and we will check the pipeline with you.想知道你看中的项目，同一年还有哪些楼盘一起交？欢迎WhatsApp我们，一起查看供应情况。

Sources: NAPIC/JPPH Southern Region Property Market Report H1 2026; DOSM and NAPIC data reported by EdgeProp, 4 October 2026; CBRE WTW via StarProperty, 10 January 2026; PropertyGuru listings checked 13–14 October 2026.资料来源：NAPIC/JPPH《2026年上半年南部区域产业市场报告》；统计局与NAPIC数据，EdgeProp 2026年10月4日报道；CBRE WTW，StarProperty 2026年1月10日；PropertyGuru挂牌资料，2026年10月13至14日查核。