Monthly Market Report
Malaysia Property Market Report — March 2026
Executive Summary
Transaction Volume
~89,000
residential transactions in H2 2025
Source: NAPIC Q3 2025 estimates
House Price Index
RM494,384
avg price (Q3 2025, +0.1% YoY)
Source: NAPIC MHPI
New Launches Tracked
531
active projects on newprojek.com
Source: newprojek.com database
Transaction Volume
Malaysia's residential market recorded strong activity heading into 2026. Full-year 2025 transactions exceeded RM241.9 billion — a decade high, driven by sustained demand in Selangor, KL, and a surging Johor market.
| Period | Transactions | Value (RM bil) | YoY Change |
|---|---|---|---|
| 2023 Full Year | ~300,000 | RM196b | — |
| 2024 Full Year | ~320,000 | RM218b | +11% |
| 2025 Full Year | est. ~340,000 | RM241.9b | +10.9% |
Source: NAPIC / Malay Mail Feb 2026
House Price Index (MHPI)
The Malaysia House Price Index (MHPI) tracks average residential property prices nationwide. Growth has been modest throughout 2025, with real appreciation after inflation near flat.
| Quarter | MHPI (RM) | QoQ Change | YoY Change |
|---|---|---|---|
| Q1 2025 | RM491,200 | +0.2% | +0.3% |
| Q2 2025 | RM492,800 | +0.3% | +0.2% |
| Q3 2025 | RM494,384 | +0.3% | +0.1% |
| Q4 2025 | TBC | — | — |
Price growth remains modest — real appreciation after inflation is near flat. Demand-side support from government home ownership schemes is preventing a correction, but prices are not running away from buyers.
Top States by Activity
| State | Est. Rank (2025) | Avg Price | Trend |
|---|---|---|---|
| Selangor | Highest | RM520k | → |
| Kuala Lumpur | 2nd | RM680k | ↑ |
| Johor | 3rd | RM380k | ↑ |
| Penang | 4th | RM490k | → |
| Perak | 5th | RM220k | → |
Note: Johor marked ↑ due to JB-Singapore RTS effect driving cross-border buyer interest. Full state breakdown available in NAPIC Property Market Status Report 2025.
New Launch Activity (Live Data)
newprojek.com tracks 531 active new launch projects across Malaysia. Johor and Selangor dominate the new supply pipeline, consistent with transaction leadership.
| State | New Launches | Notable Projects |
|---|---|---|
| Selangor | 211 | Setia Sky Vista, Sunway Avera |
| Johor | 60 | Meridin Bayvue, 2 & 3-Storey Shop Offices @ KT Central (Phase 1 & 2), Kota Tinggi, Johor |
| Penang | 38 | Tuan Pavilion, Condominium @ Air Itam, Penang, La Casa Ara, Courtyard Villament (Townhouse) @ Tasek Gelugor, Penang |
| Kedah | 37 | Permaipura Villa Phase 2, 1-Storey Bungalow @ Bedong, Kedah, 2-Storey Semi-D @ Taman Ulu Melaka Indah, Ulu Melaka, Langkawi, Kedah |
| Negeri Sembilan | 37 | 1-Storey Terrace @ Taman Nilam, Chengkau, Rembau, Negeri Sembilan, Taman Kersani, 1 & 2-Storey Terrace @ Kuala Pilah, Negeri Sembilan |
Overhang & Supply Pressure
National Overhang
~22,000–24,000
units as of Q3 2025
Price Mismatch
63%
of overhang priced above RM500k
The affordability mismatch persists — most unsold inventory is priced above what median-income Malaysians can comfortably afford. The overhang trend is improving (down 38% from 2021 peak) but structural issues remain.
Affordability Snapshot
Median House Price
RM494k
Median Household Income
RM8,479
2024 DOSM
Price-to-Income Ratio
4.9x
Affordable threshold: 3x
At RM494k median price and RM8,479 median household income (2024), the price-to-income ratio sits at approximately 4.9x — above the internationally recognised 3x affordability threshold.
Check your own affordability →March 2026 Outlook
JB-Singapore RTS Effect
The Johor Bahru–Singapore RTS Link (expected 2026 delivery) continues to drive cross-border buyer interest. Johor's transaction growth is outpacing most other states.
OPR Stability
Bank Negara Malaysia has signalled rate stability — the OPR hold means mortgage rates remain unchanged, supporting buyer purchasing power through 2026.
Budget 2026 Incentives
RM1,000 stamp duty exemption for first-time buyers purchasing below RM500k. Combined with existing government home ownership schemes, this supports entry-level demand.
Disclaimer: Outlook is editorial commentary based on available data and public information. This is not financial advice.
Frequently Asked Questions
What is the Malaysia House Price Index in 2026?
How many property transactions happened in Malaysia in 2025?
Which state has the highest property transactions in Malaysia?
Is Malaysia's property market growing in 2026?
Ringkasan dalam Bahasa Melayu — Mac 2026
Jumlah transaksi hartanah kediaman Malaysia mencecah anggaran RM241.9 bilion pada 2025 — tertinggi dalam tempoh sedekad, dengan peningkatan ~10.9% berbanding 2024.
Indeks Harga Rumah Malaysia (MHPI) berada pada RM494,384 (S3 2025), dengan pertumbuhan sederhana +0.1% tahun ke tahun. Kenaikan harga sebenar selepas inflasi hampir rata.
Selangor, Kuala Lumpur, dan Johor kekal sebagai negeri paling aktif dari segi transaksi. Johor mencatat peningkatan ketara didorong oleh kesan RTS JB-Singapura.
Prospek 2026: OPR dijangka stabil, insentif Bajet 2026 untuk pembeli rumah pertama, dan penyiapan RTS akan menjadi pemangkin utama pasaran hartanah tahun ini.
Planning to Buy in 2026? Start Here.
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