Malaysia's rich cultural diversity and strategic location in Southeast Asia make it an attractive destination for property buyers. Understanding the variations in property prices across different states is crucial for prospective buyers, investors, and developers.

Explore the average property prices in various states across Malaysia to gain insights into the factors influencing these disparities and to identify high-value and affordable regions.

Explore Malaysian Home Prices

NAPIC (National Property Information Centre) provides comprehensive data on property prices in Malaysia. According to NAPIC, the median home price in Malaysia during the second quarter of 2023 was RM 355,000 per unit.

Median Property Prices Across Malaysia (per unit):

1. Wilayah Persekutuan Kuala Lumpur (WP Kuala Lumpur): RM 507,500
2. Wilayah Persekutuan Putrajaya (WP Putrajaya): RM 620,000
3. Wilayah Persekutuan Labuan (WP Labuan): RM 304,000
4. Selangor: RM 440,000
5. Johor: RM 446,800
6. Pulau Pinang: RM 330,000
7. Perak: RM 246,050
8. Negeri Sembilan: RM 349,744
9. Melaka: RM 267,000
10. Kedah: RM 260,500
11. Pahang: RM 260,000
12. Terengganu: RM 270,286
13. Kelantan: RM 308,000
14. Perlis: RM 223,170
15. Sabah: RM 320,000
16. Sarawak: RM 374,500

Source: The Residential Prices Quarterly Update Q2 2023

Factors That Influence Property Prices in Various States of Malaysia

The property prices in each state of Malaysia are influenced by various factors:

Wilayah Persekutuan Kuala Lumpur (WP Kuala Lumpur) - RM 507,500 / unit:

• Economic Hub: Kuala Lumpur is the economic and financial hub, attracting businesses and high-income individuals.
• Limited Space: High population density and limited land availability contribute to higher demand and prices.

Wilayah Persekutuan Putrajaya - RM 620,000:

• Administrative Center: Putrajaya attracts government officials and professionals, impacting property values.
• Modern Infrastructure: Investment in modern infrastructure enhances the city's appeal.

Wilayah Persekutuan Labuan - RM 304,000:

• Business and Financial Center: Labuan is a financial hub, attracting professionals and contributing to property demand.
• Special Economic Zone: The status as a special economic zone can influence property prices.

Selangor - RM 440,000:

• Urban Development: Proximity to Kuala Lumpur, Selangor State urbanization, and economic activities contribute to higher property values.
• Infrastructure Investments: Well-developed infrastructure and amenities enhance the overall appeal.

Johor - RM 446,800:

• Economic Growth: Johor's economic growth, particularly in Iskandar Malaysia, impacts property demand.
• Connectivity: Improved connectivity, including the Iskandar Malaysia development, affects property prices.

Pulau Pinang - RM 330,000:

• Tourism and Heritage: Pulau Pinang's status as a UNESCO World Heritage Site and tourist destination influences property values.
• Economic Diversification: Economic activities, including the tech industry, contribute to property demand.

Perak - RM 246,050:

• Historical and Cultural Attractions: Perak's historical and cultural significance impacts property values.
• Industrial Activities: Economic activities, including mining and manufacturing, contribute to demand.

Negeri Sembilan - RM 349,744:

• Connectivity: Proximity to Kuala Lumpur and improved connectivity impact property prices.
• Industrial Development: Industrial zones and economic activities contribute to property demand.

Melaka - RM 267,000:

• Historical Appeal: Melaka's historical significance attracts tourists and influences property values.
• Tourism and Services: The tourism sector and service industries contribute to property demand.

Kedah - RM 260,500:

• Agricultural Activities: Agricultural activities impact the economy and property values.
• Connectivity: Infrastructure improvements influence property demand.

Pahang - RM 260,000:

• Natural Resources: Pahang's natural resources, including agriculture and mining, influence property values.
• Tourism: Tourism attractions contribute to property demand.

Terengganu - RM 270,286:

• Oil and Gas Industry: Terengganu's role in the oil and gas industry impacts property values.
• Tourism: Beach destinations and tourism contribute to property demand.

Kelantan - RM 308,000:

• Cultural Significance: Kelantan's cultural attractions influence property values.
• Agriculture: Agricultural activities impact the local economy and property demand.

Perlis - RM 223,170:

• Agriculture: Agricultural activities, including rice cultivation, influence property values.
• Small Population: Limited demand may contribute to comparatively lower prices.

Sabah - RM 320,000:

• Natural Resources: Sabah's rich natural resources and biodiversity impact property values.
• Tourism: The tourism sector, including eco-tourism, contributes to property demand.

Sarawak - RM 374,500:

• Economic Development: Sarawak's economic activities, including oil and gas, influence property values.
• Infrastructure: Investments in infrastructure impact property demand.

Other Factors That Affect Property Price Trends

1. Political Stability

Political stability is crucial for real estate transactions. Investors prefer stability and predictability to ensure their investments are secure.

2. Economic Performance

The overall economic performance, including factors like employment rates, inflation, and global financial conditions, significantly impacts the real estate market.

3. Supply and Demand Balance

The balance between supply and demand is fundamental to property market economics. Understanding this balance helps predict price trends and investment opportunities.

In conclusion, Malaysia's property market offers diverse opportunities influenced by various factors such as location, economic development, infrastructure, and demand-supply dynamics. Whether you're looking for high-value investments or affordable options, understanding these factors is essential for navigating the Malaysian real estate landscape.

 

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