Samuel Tan, executive director at KGV International Property Consultants, said approvals for all new
serviced apartments in Johor have been frozen since 2014 and
existing projects were introducing more affordable properties at around 600,000 ringgit instead of 800,000 to 1 million ringgit.
It's a tried and true strategy: Since 1977, the park
service has approved tax credits to create 278,000 new housing units and rehab 271,000
existing apartments.