KUALA LUMPUR: The Johor Bahru-Singapore Rapid Transit System Link (RTS Link) is set to boost Johor’s property market by making cross-border living more practical, said Rahim & Co Chestertons director Siva Shanker.

He described the RTS Link as a potential “game changer”, although its impact will depend on affordability and convenience.

“Everything depends on how much charge to take the train across and come back. If it’s too expensive, I will still ride my motorbike. But if it is cheap and reasonable, I will take the train back and forth,” he told SunBiz in an interview.

Siva said if travel time between Johor Bahru and Singapore can be reduced from about three hours to around half an hour, the biggest impact may not come from Malaysians commuting to Singapore, but from Singaporeans choosing to live in Johor while continuing to work in the city-state.

“I think we could be looking at a situation where Singaporeans stay in Malaysia, take the train to Singapore to work and come back in the evening,” he added.

Siva said such a trend has not taken off previously because cross-border travel between Johor and Singapore has been time-consuming and inconvenient.

“But if you have the RTS and I can travel within half an hour across the Causeway where I swipe my passport once and get across, then as a Singaporean I would seriously consider buying a property in Johor Bahru and staying there.

“And every morning I just go to Singapore, earn Singapore dollars and come back here. Amazing, right? That, to me, should be our goal.”

Siva said the currency advantage also makes Johor attractive, as S$1 million translates to about RM3.1 million, allowing buyers to afford higher-end properties.
The RTS Link, expected to begin operations in 2027, will connect Bukit Chagar and Woodlands North, with capacity of up to 10,000 passengers per hour in each direction.

Foreign direct investment continues to support demand in the country, particularly for industrial properties, as investors require factories, warehouses and housing for expatriates, Siva said. “Industrial properties attract some of the strongest foreign interest due to the large investment size involved.”

However, foreign participation in Malaysia’s property market remains low at about 3% to 7% of transactions, compared with 20% to 40% in Singapore.

Siva said this is due to regulatory constraints such as purchase restrictions, minimum price thresholds and lengthy approval processes.

He added that Malaysia is generally seen as a stable market offering steady yields rather than strong capital gains, while recent ringgit movements have had limited impact on buying interest.

“If you want stability and decent yield, Malaysia is a good place,” Siva said.

According to Malaysian Investment Development Authority, Malaysia recorded a record RM426.7 billion in approved investments in 2025, up 11% year-on-year, with foreign investments accounting for RM207.1 billion, or 48.5% of the total. Johor led all states with a record RM110 billion in approved investments in 2025, driven by the Johor-Singapore Special Economic Zone.