It’s essential to understand how much it cost to buy a house in Malaysia before entering the real estate market. Whether you’re a local or a foreigner looking to invest in Malaysia, it’s essential to be well-informed about the average house prices, the amount of money needed, the legalities of foreign ownership, and the fees you’ll encounter during the buying process. This guide gives a clear overview of the condo, land, and house prices in Malaysia.
Average house prices in Malaysia
Malaysia has a diverse real estate market, with property prices varying across states and cities. As of 2024, the average house price in Malaysia is approximately RM 436,000 ($91,560), though this figure can fluctuate based on location, type of property, and economic factors.
In major cities like Kuala Lumpur and Penang, the average price for residential property is higher, reflecting the demand for urban living and the availability of amenities. For instance, a typical condominium in Kuala Lumpur costs around RM 3,112 ($654) per square meter, depending on its location within the city and the facilities it offers. Similarly, in Penang, properties in prime locations like George Town and Batu Ferringhi can command prices well above the national average, around RM 4,902 ($1,029) per square meter.
On the other hand, in smaller towns and rural areas, house prices tend to be more affordable. States like Kelantan, Perlis, and Kedah offer properties at lower prices. These areas are popular among buyers looking for cheaper options or those seeking a quieter lifestyle away from the bustling city life.
Kuala Lumpur property prices
The average price for a condo in Kuala Lumpur is RM 500,690 ($105,145), with an average price of RM 3,112 ($654) per square meter. House prices in Kuala Lumpur are lower, with an average of RM 499,847 ($104,968). You find an overview of the average real estate prices in Kuala Lumpur in the table below.
| Property type | Median price | Price per sqm. | Median rent price |
|---|---|---|---|
| Condo | RM 500,690 ($105,145) | RM 3,112 ($654) | RM 1,845 ($387) |
| House | RM 499,847 ($104,968) | RM 679 ($143) | RM 4,152 ($872) |
| Townhouse | RM 383,329 ($80,499) | RM 2,587 ($543) | – |
| Land | RM 952,756 ($200,079) | RM 1,353 ($284) | RM 1,000 ($210) |
| Commercial | RM 2.18 million ($456,854) | RM 6,846 ($1,438) | RM 8,380 ($1,760) |
| Apartment | RM 285,975 ($60,055) | RM 3,322 ($698) | RM 1,128 ($237) |
Johor Bahru property prices
Johor Bahru’s property prices tend to be higher, with an average condo price of RM 402,383 ($84,500). Buying a condo in Johor Bahru costs an average of RM 3,474 ($730). The house price is way higher, averaging around RM 610,686 ($128,244). Those who want to buy a commercial property in Johor Bahru can expect to pay an average of RM 2,885 ($606) per square meter. The table below gives a complete overview of the property prices in Johor Bahru.
| Property type | Median price | Price per sqm. | Median rent price |
|---|---|---|---|
| Condo | RM 402,383 ($84,500) | RM 3,474 ($730) | RM 1,538 ($323) |
| House | RM 610,686 ($128,244) | RM 3,415 ($717) | RM 1,345 ($282) |
| Commercial | RM 1.52 million ($318,889) | RM 2,885 ($606) | RM 3,256 ($684) |
| Apartment | RM 318,527 ($66,891) | RM 3,326 ($698) | RM 1,125 ($236) |
Selangor property prices
For a condo in Selangor, buyers pay an average of RM 282,592 ($59,344) per unit, while the price per square meter is set at RM 4,022 ($845). The house price in Selangor is slightly lower, set at an average of RM 3,842 ($807). You find a complete overview of all the property prices in Selangor in the table below.
| Property type | Median price | Price per sqm. | Median rent price |
|---|---|---|---|
| Condo | RM 282,592 ($59,344) | RM 4,022 ($845) | RM 1,590 ($334) |
| House | RM 600,630 ($126,132) | RM 3,842 ($807) | RM 1,680 ($353) |
| Townhouse | RM 558,508 ($117,287) | RM 1,584 ($333) | – |
| Land | RM 1.2 million ($252,816) | RM 224 ($47.04) | RM 8,714 ($1,830) |
| Commercial | RM 1.21 million ($253,885) | RM 4,380 ($920) | RM 9,634 ($2,023) |
| Apartment | RM 274,387 ($57,621) | RM 3,274 ($688) | RM 982 ($206) |
Penang property prices
In Penang, the average condo price is RM 4,902 ($1,029) per square meter, while the house price averages around RM 924,051 ($194,051). You find an overview of the current property prices in Penang in the table below.
| Property type | Median price | Price per sqm. | Median rent price |
|---|---|---|---|
| Condo | RM 583,826 ($122,603) | RM 4,902 ($1,029) | RM 1,969 ($413) |
| House | RM 924,051 ($194,051) | RM 435 ($91.35) | – |
| Commercial | – | – | RM 4,578 ($961) |
Putrajaya property prices
The average condo price in Putrajaya is RM 261,410 ($54,896), or RM 4,410 ($926) per square meter. You find an overview of Putrajaya’s current condo and house prices in the table below.
| Property type | Median price | Price per sqm. | Median rent price |
|---|---|---|---|
| Condo | RM 261,410 ($54,896) | RM 4,410 ($926) | RM 2,194 ($461) |
| House | RM 426,650 ($89,597) | RM 438 ($91.98) | – |
Frequently Asked Questions (FAQs)
What is the average price of a house in Malaysia?
The average house price in Malaysia is RM 436,000 ($91,560). However, this figure can fluctuate based on location, type of property, and economic factors.
How much money should I have to buy a house in Malaysia?
To buy a house in Malaysia, you should have at least 10% of the property’s price for the down payment, plus additional funds for legal fees, stamp duties, and other associated costs, typically totaling around 15-20% of the property’s price.
Can a foreigner buy a house in Malaysia?
Yes, foreigners can buy a house in Malaysia, but they are subject to minimum price thresholds, which vary by state, typically starting at RM 600,000 ($126,000) to RM 1 million ($210,000).
What fees do I pay when buying a house in Malaysia?
When buying a house in Malaysia, you need to pay fees such as stamp duty (1-3% of the property’s price), legal fees (approximately 1-2%), a Memorandum of Transfer fee, and potentially a loan agreement stamp duty if financing the purchase.
