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SUMMARY
Are rents in Philippines still rising? That is outside the Johor evidence used here; the supported conclusion from this analysis is that Airbnb is still worth it in Johor, but only for the right property, not for the average investor condo.
Johor Bahru short-stay demand is improving, yet citywide occupancy around 45% still leaves more than half of available nights unsold. Better demand has not turned this into an easy market.
The bigger change is that Airbnb now has to compete with a stronger long-term-rental alternative. Near the Singapore border, a normal tenant can deliver enough rent that the short-stay premium sometimes looks surprisingly thin after management and operating costs.
Purchase price matters as much as occupancy. Around RM44,000 of annual gross bookings looks attractive on a RM350,000–RM450,000 unit, but fairly ordinary once the same revenue is spread over a RM800,000 or RM1 million purchase.
Johor's supply problem is concentrated in the exact product many Airbnb investors buy: serviced apartments and other high-rise investor stock. The state already has Malaysia's largest completed serviced-apartment overhang, with another large pipeline still coming.
The RTS Link improves the case for genuinely central, walkable properties, but it does not rescue a weak building or an expensive unit far from the station. The useful edge is real convenience, not a brochure claiming proximity to RTS.
Airbnb management can erase much of the upside at average performance. A 20% management fee on roughly RM3,600 of monthly bookings leaves very little room before utilities, maintenance, replacement costs and taxes are even considered.
Building rules are a property-level risk that market averages cannot capture. A commercially titled condo can still face valid short-stay restrictions, so the operating right needs to be checked at the building level rather than assumed from the title or an agent's pitch.
The strongest Johor Airbnb case sits where several demand sources overlap and a long-term fallback already works: central JB around CIQ, JB Sentral and Bukit Chagar first, with selected family-oriented units around Medini or Puteri Harbour serving a different niche.
The practical threshold is simple: an Airbnb needs enough extra revenue to compensate for higher costs, more work and more uncertainty. If the deal only works with exceptional occupancy, aggressive RTS appreciation and optimistic resale assumptions all at once, it is too fragile.
Johor's growth story is real, but the investable opportunity is narrower than the story. A sensibly priced unit in a proven building with strong conventional rental demand can still earn an attractive short-stay premium; a generic serviced apartment bought mainly on an Airbnb pitch is much harder to defend.
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Is Airbnb in Johor actually doing better now?
Johor Bahru Airbnb is doing better now, but the average property is still nowhere near full enough to call this an easy short-term-rental market.
AirDNA’s newest completed-month data puts Johor Bahru at about 45% occupancy, a US$66 average daily rate and US$30 RevPAR across 5,685 active short-term-rental listings. The important part is the direction: occupancy has been improving rather than slipping, so the market is clearly finding more guests.
Yet 45% occupancy still means an available property sits empty for roughly 55% of nights. That leaves much less room for weak pricing, high management fees or a few bad months than the tourism boom around Johor might suggest.
There is also an unusual tension these days. Visitor demand is improving just as thousands of serviced apartments are competing for buyers, tenants and short-stay guests. Long-term rents near the Singapore border are strengthening too. A Johor Airbnb can therefore be doing reasonably well while still being a worse investment than simply putting a tenant in the same unit.
The real test is whether Airbnb earns enough extra money to justify the extra costs, work and risk.
| Johor Bahru short-stay metric | Latest level | Direction | What we learn |
|---|---|---|---|
| Average occupancy | ~45% | Improving | Demand is recovering |
| Average daily rate | ~US$66 | Fairly stable | Hosts are not relying on huge discounts |
| RevPAR | ~US$30 | Improving | Revenue per available night is rising |
| Active listings | 5,685 | Large market | Guests have plenty of choice |
| Available nights left empty | ~55% | Still high | Average hosts remain exposed to weak months |
Are enough tourists coming to Johor to support all these Airbnbs?
Tourist demand in Johor is genuinely strong right now, so lack of visitors is no longer the main problem for Airbnb owners.
Tourism Malaysia’s latest detailed locality data showed Johor Bahru hotel occupancy reaching 59.3%, up from 53.4% a year earlier. Johor as a whole rose from 49.2% to 51.9%. Johor Bahru therefore gained almost six percentage points in a year, much faster than the nationwide increase.
The visitor numbers also have some depth behind them. Tourism Johor reported 7.9 million domestic and international tourists staying at least one night in the state during the first nine months of 2025. The state is now targeting 12 million visitors during Visit Johor Year 2026 and has scheduled more than 100 tourism-related events.
Johor has several separate sources of demand rather than one big attraction carrying the market. Singaporeans cross for food, shopping and weekends. Legoland brings families. Johor Bahru gets business visitors. Puteri Harbour has its own leisure demand, while Desaru works more like a resort destination.
Demand looks healthy. The harder question is whether Airbnb supply grows even faster.
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Is 45% Airbnb occupancy in Johor Bahru actually good enough?
A 45% Airbnb occupancy rate in Johor Bahru is enough to run a viable property, but it is too low to make an average unit obviously attractive as an investment.
At 45%, an available Airbnb sells around 13.5 nights in a 30-day month. That can work when the apartment was bought cheaply, operating costs are controlled and the host manages it well.
The problem starts when the investment was sold on much more aggressive assumptions. A calculation based on 65% occupancy implies nearly 20 occupied nights each month. Dropping from 65% to 45% removes almost one-third of those booked nights.
Johor Bahru hotels recently averaged close to 60% occupancy, while short-term rentals are still well below that. Hotels and Airbnbs are different products, so identical numbers are not the goal, but the gap shows that rising Johor tourism has not translated into an exceptionally tight Airbnb market.
At 45%, buying based on average performance is too risky. A specific building should have a credible path toward the mid-50s or higher before short-stay income becomes a central part of the investment case.
How much money can a Johor Airbnb make now?
A typical Johor Bahru Airbnb can currently generate a few thousand ringgit a month in accommodation revenue, but the difference between a mediocre and a strong operator quickly becomes enormous.
Using an average nightly rate around RM267, roughly equivalent to the latest US$66 market ADR at recent exchange rates, a property at 35% occupancy produces about RM2,800 a month. At 45%, gross revenue rises to around RM3,600. At 55%, it reaches roughly RM4,400, and at 65% it moves above RM5,200.
That range is far more useful than quoting one citywide annual-revenue figure. Two owners in identical apartments can end up with completely different results if one sells 11 nights a month and the other sells 19.
An extra ten percentage points of occupancy at that nightly rate adds roughly RM9,700 of annual gross revenue. Raising occupancy from 45% to 60% is worth much more than squeezing another RM10 or RM15 out of every booked night.
A RM300 Saturday booking tells us very little about the annual economics if Tuesday through Thursday stay empty.
| Occupancy | Nights sold in a 30-day month | Approx. monthly gross revenue | Approx. annual gross revenue |
|---|---|---|---|
| 35% | 10.5 | RM2,800 | RM34,100 |
| 45% | 13.5 | RM3,600 | RM43,900 |
| 55% | 16.5 | RM4,400 | RM53,600 |
| 65% | 19.5 | RM5,200 | RM63,300 |
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Does Airbnb still beat long-term rent in Johor Bahru?
Airbnb can still beat long-term rent in Johor Bahru, but the gap is much smaller than the difference between a nightly rate and a monthly rent makes it look.
Recent PropertyGuru listings at R&F Princess Cove show one-bedroom asking rents commonly around RM2,400 to RM2,800 a month. Several very recent units were listed at RM2,400, RM2,500, RM2,600, RM2,700 and RM2,800, so this is a fairly visible rental band rather than one cherry-picked listing.
Compare that with the roughly RM3,600 monthly gross revenue produced by current average Airbnb performance in the calculation above. The short-stay premium is only around RM800 to RM1,200 before paying the costs that a normal tenant would usually cover themselves.
An Airbnb owner may be paying electricity, water, internet, consumables, furniture replacement, additional maintenance and platform or management fees. A long-term tenant gives the owner less headline revenue but far fewer turnovers and a much steadier cash flow.
Once Airbnb reaches RM4,500 to RM5,000 a month, the comparison changes. There is finally enough extra revenue to absorb the additional costs and still leave a meaningful advantage.
This is one of the clearest changes in Johor these days: long-term renting has become a serious competitor to Airbnb, especially close to the Singapore border.
| Rental approach | Typical monthly gross income | Owner workload | Cost burden | Cash-flow stability |
|---|---|---|---|---|
| Long-term 1BR example near CIQ | RM2,400–RM2,800 | Low | Relatively low | High |
| Average-performing Airbnb | ~RM3,600 | High | High | Lower |
| Strong Airbnb | RM4,500–RM5,000+ | High | High | Medium |
| Professionally managed Airbnb | Depends on bookings | Low | Much higher | Medium |
Do Airbnb management costs wipe out the extra profit in Johor?
Professional Airbnb management can wipe out most of the short-stay premium in Johor when a property performs only around average.
WP Homestay, a Johor Bahru short-stay operator, currently advertises an 80/20 revenue split, with 20% going to management. On RM3,600 of monthly bookings, that fee alone is RM720.
The owner then still has property-level expenses. Utilities and Wi-Fi continue every month. Furniture, mattresses, towels and kitchen equipment wear faster with frequent guests. Maintenance charges continue whether anyone checks in or not.
A manager can absolutely earn that 20% if better pricing, faster guest responses and stronger distribution push a weak property into much higher occupancy. Paying a manager who leaves the unit close to the city average is far harder to justify.
Self-managing saves the fee but changes what kind of investment this is. Someone still has to answer guests, adjust prices, organize cleaners, solve access-card problems and deal with weekend emergencies.
Owners who want a genuinely passive Johor investment should compare managed-Airbnb net income with long-term net rent. Comparing Airbnb gross revenue with conventional rent exaggerates the advantage.
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Is Johor's condo oversupply becoming a serious Airbnb problem?
Johor's huge serviced-apartment pipeline is now the biggest structural problem for Airbnb investors because the same kind of small high-rise unit keeps being added to an already crowded market.
NAPIC's first-quarter 2026 data recorded 9,972 completed unsold serviced apartments in Johor, the highest number of any Malaysian state. Johor alone represented more than half of Malaysia's 19,263 completed unsold serviced apartments.
The wider pipeline looks worse. Johor had another 8,491 unsold serviced apartments under construction and 4,116 not yet constructed. Put those categories together and unsold exposure reached 22,579 units, up from 16,795 one year earlier.
That works out to roughly 34% growth in twelve months.
The distinction between ordinary residential property and serviced apartments is important here. Johor's completed residential overhang stood at 3,852 units, far below the serviced-apartment problem. Saying every type of Johor property is drowning in supply would be too broad. The pressure is concentrated in exactly the high-rise product frequently marketed to investors.
Many of these apartments will eventually enter either the long-term rental market or the short-stay market. Both outcomes create competition for existing Airbnb owners.
| Johor unsold serviced apartments | Earlier period | Latest period | Change |
|---|---|---|---|
| Completed | 9,507 | 9,972 | +4.9% |
| Under construction | 6,967 | 8,491 | +21.9% |
| Not yet constructed | 321 | 4,116 | +1,182% |
| Total exposure | 16,795 | 22,579 | +34.4% |
Will the RTS Link really make Johor Airbnbs more profitable?
The RTS Link should make well-located Johor Bahru Airbnbs easier to fill, but buying any condo and expecting the train to rescue the numbers would be a bad bet.
The line runs about four kilometres between Bukit Chagar and Woodlands North, with immigration facilities integrated at the stations. MRT Corp says trains will take roughly six minutes between the two stations and the system will eventually handle up to 10,000 passengers per hour in each direction.
Estimated opening ridership is around 40,000 passengers a day.
For short stays, the biggest winner should be the city-centre catchment around Bukit Chagar, JB Sentral and CIQ. A Singapore visitor who can cross by rail and walk or take a very short ride to an apartment has a much easier trip than someone staying deeper inside Johor Bahru.
Distance becomes more important than the words "near RTS" in a sales brochure. A property with a genuine pedestrian connection has a different proposition from a project requiring another 20-minute car ride after crossing the border.
The RTS should bring more people through central Johor Bahru. It will not mean every one of those people needs an Airbnb.
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Could the RTS make long-term rentals stronger than Airbnb?
The RTS may end up helping long-term rental demand even more consistently than Airbnb because easier border crossing makes Johor Bahru much more practical for people who travel to Singapore repeatedly.
Someone taking a weekend trip creates two or three Airbnb nights. Someone who decides to live in Johor Bahru while commuting or travelling regularly to Singapore can create twelve months of rental demand.
That is particularly relevant around Bukit Chagar, CIQ and the city centre, where landlords already have access to one of Johor's deepest tenant pools.
It also changes how an Airbnb purchase should be judged. A central unit with strong conventional rental demand has an escape route if short stays disappoint. The owner can switch strategies without waiting for tourists to return or accepting a fire-sale price.
For investors buying around the RTS, normal tenant demand deserves a high value. A property that only works under optimistic Airbnb assumptions is far less attractive than one that already works as a regular rental and gives Airbnb as an upside option.
Can a Johor condo management committee stop Airbnb?
Yes, a Johor strata development can end up restricting short-term rentals, so investors need to check the actual building rules before treating Airbnb income as reliable.
Malaysia's Federal Court made that clear in the Verve Suites case. The court upheld properly adopted house rules restricting short-term rentals in that development. The fact that the units were on commercially categorised land did not give owners an unlimited right to run short stays.
The later Marc Service Residence Court of Appeal case added nuance. The court closely examined what the management corporation could prohibit under the Strata Management Act and what had actually been adopted through the building's rules and resolutions.
For a buyer, the practical lesson is straightforward. "Commercial title" does not settle the issue. Neither does an agent saying that a building is "Airbnb friendly."
The current additional by-laws, AGM or EGM resolutions and written management policy for the actual development matter. So does what management does in practice: whether guests can obtain access cards, whether luggage is allowed through reception, whether minimum stays apply and whether security actively blocks short-stay check-ins.
Airbnb revenue deserves a heavy discount in any investment model if the right to operate depends on an informal arrangement that could change.
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Are taxes and Airbnb rules making Johor short stays unattractive?
Taxes add some friction to Johor Airbnb, but they are currently much less damaging than weak occupancy, management costs or a bad building policy.
Malaysian hosting income still has to be considered for income-tax purposes. Airbnb also collects Malaysia's RM10-per-night tourism tax from non-Malaysian and non-permanent-resident guests on bookings made through the platform.
Service tax becomes more relevant for operators running at a much larger scale. Airbnb's Malaysian tax guidance discusses the accommodation-provider registration framework around a RM500,000 annual threshold, well above what one ordinary Johor condo would usually generate.
Tax is worth modelling properly, especially for someone operating several units, but it does not explain why average Johor Airbnb returns can feel disappointing.
For most individual owners, occupancy, management, utilities, furnishing and the building's short-stay rules will decide the result long before tourism tax does.
Where in Johor does Airbnb still make the most sense?
Central Johor Bahru has the strongest Airbnb case today because several kinds of demand overlap there and owners still have a credible long-term-rental fallback.
The CIQ, JB Sentral and Bukit Chagar area benefits from cross-border visitors, business travellers, city-centre demand and the coming RTS connection. R&F Princess Cove is a good example of the basic idea: the location serves short-stay guests while recent one-bedroom listings also show an active conventional rental market.
Danga Bay has tourism appeal and recognisable waterfront positioning, although the amount of competing high-rise stock makes it harder to assume that every unit will stand out.
Puteri Harbour and Medini work differently. Legoland creates family demand, while Puteri Harbour adds marina and leisure stays. Larger apartments can make more sense there when families would otherwise need several hotel rooms.
Mount Austin attracts food, entertainment and domestic demand, which can suit shorter weekend stays, but it lacks central JB's direct border advantage.
Desaru belongs in another category altogether. Holiday traffic, weekends and resort seasonality dominate the economics, so Johor Bahru occupancy assumptions should not be used for a Desaru property.
| Johor area | Main Airbnb demand | Strongest advantage | Main weakness | Long-term rental fallback |
|---|---|---|---|---|
| JB Sentral / CIQ / Bukit Chagar | Singapore visitors, business, city stays | Border and RTS access | Expensive investor stock | Strong |
| Danga Bay | Leisure, weekend visitors | Waterfront location | Heavy condo competition | Fair to strong |
| Puteri Harbour / Medini | Families, Legoland, leisure | Family attractions | More destination-dependent | Fair |
| Mount Austin | Domestic weekends, food and entertainment | Strong local activity | Weaker border access | Strong local tenant market |
| Desaru | Resorts, holidays, groups | Higher leisure appeal | Seasonal demand | Much weaker than central JB |
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What type of Johor condo works best for Airbnb now?
Compact apartments in locations people already want to visit usually make more sense for Johor Airbnb than expensive units bought mainly for their facilities or future promises.
The nightly rate rarely rises in proportion to the purchase price. If one apartment costs RM400,000 and another costs RM700,000, the second property needs either much higher occupancy or a much higher nightly rate to justify the extra RM300,000.
Studios and one-bedroom units near central Johor Bahru also have an obvious fallback market among singles, couples and people working around the Singapore-Johor corridor.
Two- and three-bedroom units can work when they solve a different problem. A family visiting Legoland may prefer one large apartment over two hotel rooms. A group of four or six people may care much more about total stay cost than price per room.
The weak product is the generic investor unit with dozens or hundreds of identical competitors in the same tower. Guests can compare those listings almost entirely on price, reviews and photos.
A simple unit in an excellent location is usually a better bet than paying a large premium for a sky lounge, elaborate lobby or other facilities that competitors can copy in the next development.
How cheap does a Johor condo need to be for Airbnb to work?
Johor Airbnb becomes much easier to justify below roughly RM500,000 when the unit can produce around RM40,000 to RM45,000 of annual bookings; above that, average market revenue starts producing rather ordinary yields.
Take RM44,000 of annual gross revenue as an illustrative case. A RM350,000 purchase produces a 12.6% gross yield. At RM450,000, it is 9.8%. At RM600,000, it falls to 7.3%. At RM800,000, the gross yield is only 5.5%.
Gross yield is particularly flattering for Airbnb because operating expenses are heavier than with a standard lease.
If professional management takes 20%, RM44,000 falls to RM35,200 before utilities, maintenance charges, repairs, taxes and furniture replacement. The RM800,000 property now has only 4.4% of purchase price left before those remaining expenses.
Purchase price can matter more than the Airbnb market itself. A mediocre property bought cheaply can outperform a beautiful new launch bought at an aggressive developer price.
That is why units carrying a large "RTS premium" deserve caution. Future connectivity can improve revenue, but it cannot make the acquisition price irrelevant.
| Purchase price | Example annual gross Airbnb revenue | Gross yield | Revenue left after 20% management |
|---|---|---|---|
| RM350,000 | RM44,000 | 12.6% | RM35,200 |
| RM450,000 | RM44,000 | 9.8% | RM35,200 |
| RM600,000 | RM44,000 | 7.3% | RM35,200 |
| RM800,000 | RM44,000 | 5.5% | RM35,200 |
| RM1,000,000 | RM44,000 | 4.4% | RM35,200 |
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Could Johor Airbnb returns get much better over the next few years?
The best Johor Airbnbs could earn more over the next few years, but the huge high-rise pipeline makes a citywide boom much harder to believe.
The demand side has plenty going for it. Johor is receiving more visitors, Singapore access is improving, the Johor-Singapore economic relationship is getting deeper and tourism promotion is unusually strong.
Supply is responding just as aggressively.
Olive Tree Property Consultants recently estimated Johor's future high-rise supply at 70,177 units, compared with 38,448 landed homes. CBRE|WTW expects Iskandar Malaysia high-rise completions to peak at 32,783 units in 2029 alone.
Those are huge numbers for a market where many new high-rises are aimed at investors.
Johor already carries Malaysia's largest completed serviced-apartment overhang. A further wave of completions means future tourism growth can be real without producing equally strong growth in revenue per Airbnb.
The next few years should reward selectivity rather than broad exposure. Central, walkable and genuinely scarce properties can do well as Johor grows. Generic units will have to fight harder for every guest because another tower can always arrive with newer furniture and launch-year discounts.
So, is Airbnb still worth it in Johor now?
Yes, Airbnb is still worth it in Johor now for the right property, but buying an average investor condo specifically for Airbnb is no longer a particularly attractive strategy.
Current demand is moving in the right direction. Johor Bahru short-stay occupancy has improved, tourism is strong, central JB has a deep pool of Singapore-related visitors and the RTS will make the border much easier to cross.
The investment case gets much weaker once we move from Johor's growth story to the economics of one apartment. Average occupancy still leaves a lot of empty nights. Long-term rents have become competitive. Full-service management can take a large bite out of booking revenue. Building rules can shut down the strategy. Meanwhile, tens of thousands of serviced apartments and future high-rise units are still competing for the same buyers and renters.
The deals that still make sense are quite specific: a sensibly priced apartment in a proven location, inside a building where short stays clearly work, with enough normal rental demand that Airbnb never becomes the owner's only option.
If the numbers require exceptional occupancy, rapid rental growth and a big RTS-driven price increase all at once, pass.
For a strong central unit bought at the right price, Airbnb can still produce an attractive premium. For the average Johor serviced apartment sold mainly on an Airbnb story, long-term renting now looks surprisingly competitive and often much easier to defend.
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OUR METHODOLOGY
This analysis tests whether Airbnb is still worth it in Johor by comparing short-stay operating performance with the economics of owning one property. We look at occupancy, ADR and RevPAR, tourism demand, long-term rents, management costs, competing supply, the RTS Link, building restrictions, taxes, location, property type and purchase price.
We separate market momentum from property-level investability. Stronger tourism, more Singapore-linked travel and better infrastructure can improve demand, but they do not automatically make an average condo a good Airbnb investment if purchase prices, supply or operating costs are too high.
Where the outcome depends heavily on occupancy or acquisition price, we use scenario math rather than one citywide average. The revenue examples test different occupancy levels at roughly the current market ADR, while the yield examples show how the same booking revenue changes as purchase price rises.
We also compare Airbnb gross revenue with the long-term-rental alternative because that is the real opportunity cost for many Johor owners. Management fees, utilities, furnishing wear and turnover costs are considered separately so the short-stay premium is not overstated.
Legal and operating risk is treated at building level rather than assumed from title type. The Verve Suites and Marc Service Residence cases are used to frame the role of strata rules, while actual by-laws, management resolutions and guest-access practices remain critical for any specific development.
We prioritized direct or primary sources where possible. Key operating and market inputs include AirDNA for Johor Bahru short-term-rental performance, Tourism Malaysia for hotel occupancy, Tourism Johor for visitor targets and events, and PropertyGuru for current R&F Princess Cove asking rents.
Supply and infrastructure are anchored to NAPIC property-market status data, the NAPIC Q1 2026 market snapshot, MRT Corp's RTS Link project information, Singapore LTA's RTS Link information, and CBRE | WTW for the Iskandar Malaysia high-rise pipeline.
Operating-cost and tax checks use WP Homestay's published management split, Bank Negara Malaysia exchange-rate data, Airbnb's Malaysia tourism-tax guidance, Inland Revenue Board guidance on rental income, and MySST guidance on registration thresholds.
For the legal sections, we use the Verve Suites Federal Court decision and the Malaysian Bar material on the Marc Service Residence Court of Appeal decision. Broader demand context also draws on MIDA on the Johor-Singapore Special Economic Zone and LEGOLAND Malaysia Resort.
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