By Muhazrol Muhamad, GVP, Head of Bumiputra Segment
Malaysia’s property market has just shattered records, delivering its strongest performance in the past decade, according to the latest Property Market 2024 Snapshots by NAPIC. This isn’t just growth—it’s a full-blown boom, solidifying Malaysia’s reputation as a real estate powerhouse in Southeast Asia.
Breaking Records: Transaction Volume & Value Skyrocket
2024 was a landmark year for Malaysia’s property sector:
- Transaction volume surged to an all-time high of 420,545, marking a 5.4% increase from 2023.
- Total transaction value skyrocketed to RM232.3 billion, reflecting a remarkable 18.0% year-on-year growth.
This isn’t just a rebound—it’s a clear signal that Malaysia’s property market is firing on all cylinders.
Residential Sector: The Heartbeat of the Market
The residential sector remains the backbone of Malaysia’s property market, contributing 62.0% of total transactions.
- 260,516 residential transactions were recorded, with a total value of RM106.92 billion.
- What’s driving this demand? A perfect storm of factors:
- Government incentives – Affordable housing schemes and stamp duty exemptions are making homeownership more accessible than ever.
- Urban migration – Cities like Selangor, Johor, and Kuala Lumpur are buzzing with activity as more people flock to urban centers for jobs and opportunities.
- Stable financing – Low interest rates and flexible loan packages are encouraging both first-time buyers and seasoned investors to enter the market.
Commercial & Industrial Sectors: Riding the Wave of Growth
The commercial property market isn’t just keeping up—it’s thriving:
- 45,985 transactions valued at RM58.06 billion
- The sector claimed 25.0% of the total transaction value
- Demand for office spaces and retail units is rising, fueled by Malaysia’s expanding business ecosystem
Meanwhile, the industrial sector is quietly stealing the show:
- 8,783 transactions worth RM27.86 billion, making up 12.0% of the total market value
- As Malaysia cements its position as a regional logistics hub, industrial properties—especially logistics and warehousing—are becoming a goldmine for investors
Regional Powerhouses: Who’s Leading the Charge?
Some states are clearly leading the property boom:
- Selangor – The undisputed champion, with 77,713 transactions. It’s not just a property market—it’s a property empire.
- Johor – A close second with 66,894 transactions, thanks to booming industrial developments and its strategic location near Singapore.
- Perak – A dark horse with 46,538 transactions, showing steady growth in both residential and commercial segments.
Market Value Breakdown
- Central Region (Kuala Lumpur & Selangor) – RM103.27 billion, accounting for 44.5% of the total market value.
- Southern Region (Johor, Melaka, Negeri Sembilan) – RM63.99 billion (27.5%).
- Johor is emerging as a major investment hotspot, attracting both local and international buyers.
What’s Next? The Future Looks Bright
The momentum isn’t slowing down. With major infrastructure projects nearing completion, property demand is expected to skyrocket:
- East Coast Rail Link (ECRL)
- West Coast Expressway (WCE)
2025 Outlook
Analysts predict another record-breaking year, driven by:
- Economic stability
- Proactive government policies
- Malaysia’s growing appeal as a regional investment hub
For investors, developers, and homebuyers, the message is clear: Malaysia’s property market is where the action is. Whether you’re looking to buy your dream home, expand your portfolio, or tap into the next big opportunity, the time to act is now.
