This is the first of my monthly notes for Singaporeans who own, or are thinking of buying, property in Johor Bahru. The one-line version for October 2026: the RTS Link is now expected to open in February 2027, the ringgit is around RM3.19 to the Singapore dollar, and Budget 2027 brought no new rules aimed at foreign buyers.
1. RTS Link: now February 2027
On 2 October 2026, Malaysia’s Transport Ministry and Singapore’s Land Transport Authority said in a joint statement that passenger service is expected to start in February 2027, rather than the January date previously reported. The start still depends on the operator, RTS Operations Pte Ltd, getting independent safety certification and final approval from both governments.
On 8 October, Transport Minister Anthony Loke said the line was not delayed as such: both sides chose February to leave a buffer for safety checks. He said physical works on the station and CIQ complex are finished, with October to December set aside for testing and handover to the operator by 31 December 2026. None of the reports I read gave a fare; it has not been announced yet. For what the line could mean for homes near Bukit Chagar, see my RTS Link article.
2. Exchange rate
Bank Negara Malaysia’s 5pm rates on 9 October 2026, as published by Business Today, put the Singapore dollar at RM3.1894 (buying) and RM3.1942 (selling). The midpoint is about RM3.19. I could not find a source I trust for the exact change over the past 12 months, so I am leaving that out this month rather than guess.
| Example amount | At RM3.19 per S$1 (9 Oct 2026) |
|---|---|
| RM500,000 | about S$156,700 |
| RM800,000 | about S$250,800 |
| RM1,000,000 | about S$313,500 |
3. Budget 2027: what changed for property
Budget 2027 was tabled on 9 October 2026. According to The Star and PwC’s overview, the property measures were:
- First homes: full stamp duty exemption on the transfer and loan documents for homes up to RM500,000; for homes up to RM750,000, full exemption on the first RM500,000 and 50% on the rest. This covers agreements signed from 1 January 2027 to 31 December 2030.
- Abandoned projects: full stamp duty exemption for rescue contractors, rescue developers and original buyers over the same period.
- Financing support: up to RM20 billion of SJKP guarantees for first-time buyers, mainly the self-employed.
- Johor: a new JS-SEZ industrial hub, Nexus Sedenak, and a multi-family office model for Forest City alongside the existing single family office scheme.
For Singaporeans, the key point is what is not there. PwC’s overview lists no change to RPGT and nothing on foreigners buying property. The first-home exemption has been framed for Malaysian citizens and permanent residents, and since 1 January 2026 transfers to non-citizens carry a fixed 8% stamp duty, per KPMG’s Budget 2026 summary. Budget 2027 did not change that in anything I read. My stamp duty guide has the full workings.
4. Johor market data
The latest figures I can source are for the first quarter. The New Straits Times, citing preliminary NAPIC data, reported 8,730 residential transactions in Johor in Q1 2026, worth RM4.45 billion and down 9.5% from a year earlier. About 63% were priced at RM500,000 or less.
On supply, The Star reported in July a CIMB Research note citing NAPIC data: Johor had 108,863 existing serviced apartment units in Q1 2026, with a further 41,832 units incoming up to 2030. CIMB flagged oversupply risk in Johor Bahru’s high-rise segment if demand does not keep pace. If you are buying a high-rise unit to let, that matters more than any headline about the JS-SEZ.
5. Causeway and checkpoints
There was no major new checkpoint measure in early October. Use of Malaysia’s MyNIISe QR clearance keeps growing: Home Minister Saifuddin Nasution said in July that it had recorded more than 19.48 million QR transactions at the Bangunan Sultan Iskandar and Sultan Abu Bakar complexes up to 28 June 2026. On the Singapore side, ICA’s phased Woodlands Checkpoint redevelopment, announced in June 2025, runs over 10 to 15 years, so expect it to help over time rather than this year.
6. What I’m telling Singaporean buyers this month
- Do not buy on the RTS date alone. The opening has already moved once. Check that the unit works for you, or for tenants, with today’s Causeway journey.
- Budget your costs in ringgit. Stamp duty, legal fees and maintenance are in ringgit, so price your plan at today’s rate and allow for it moving either way.
- Check supply before you buy to let. Ask how many units are coming up nearby, and look at actual rents for similar units. My guide to renting to commuters covers what tenants look for.
Questions about your situation?
Tell me what you own, what you are looking at and when, and I will tell you what this month’s news means for you.
If you’d like to see units in person, I can meet you at JB Sentral on a weekend and take you round: see my weekend viewing trip page.
Sources: The Star, “JB-Singapore RTS Link to commence operations in February 2027”, October 2026; Malay Mail, “JB-Singapore RTS Link service start pushed back to February 2027”, October 2026; Malay Mail, “Anthony Loke: RTS Link not delayed, buffer time needed for safety approvals”, October 2026; Business Today (Bank Negara Malaysia rates), “Foreign exchange rates, October 9, 2026”, October 2026; The Star, “Budget 2027: Govt proposes stamp duty exemptions for first-time homebuyers”, October 2026; PwC Malaysia, “Centre Stage: Budget 2027 overview”, October 2026; KPMG Malaysia, “Budget 2026: Stamp duty”, October 2025; New Straits Times, “State election unlikely to derail Johor home sales”, June 2026; The Star, “Johor high-rise segment faces oversupply risks”, July 2026; Malay Mail, “Saifuddin Nasution says MyNIISe app hits 2.4 million downloads, 19.48 million QR scans”, July 2026; ICA and SLA, “Update on the redevelopment and extension of Woodlands Checkpoint”, June 2025
Jason Lim, REN 84424, IQI Realty Sdn. Bhd. E (1) 1584/6. General information checked on 12 October 2026, not legal, tax or financial advice.