Home Values Have Doubled Since 2010. Here’s Which States Are Growing Fastest: Juwai IQI

Home Values Have Doubled Since 2010. Here’s Which States Are Growing Fastest: Juwai IQI

Kuala Lumpur, 25 May 2026 — The average Malaysian home owner has seen the value of their property more than double since 2010, but homeowners in some states have seen gains far larger than the national average, according to analysis released today by Kashif Ansari, Co-Founder and Group CEO of Juwai IQI.

“These findings are drawn from 15 years of National Property Information Centre data,” Mr Ansari said. “The data is hard proof that where a Malaysian buys their home can have a big impact on their returns.

“The data also points to where the property market is going in the next few years. Some likely investment spots might surprise you.”

Johor Sees the Biggest Gains

“The growth in Johor home values has been just remarkable. That’s where home values have increased the fastest over the past 15 years,” Mr Ansari said.

“The average price of Johor homes has more than tripled. In ringgit terms, it has gone from RM162,136 in 2010 to RM487,128 today.

“This is how home ownership benefits you more than other kinds of investment. You get to live in the property, assuming it’s your primary residence, and also benefit from significant gains in value over time.”

States That Have Rewarded Home Owners

“Johor is a big surprise, but not the only one,” said Mr Ansari. “Kedah and Kelantan seldom top property investors’ lists, but both have rewarded home owners and been among the top five states for home value growth since 2010.

“Across Malaysia, the average homeowner has added roughly RM290,000 to their net worth through property appreciation since 2010, without having to do anything but own their home. The national average home price has risen from RM218,000 to RM508,000 in 15 years.

“Home owners in KL have done especially well. Although the pace of home price increases has been lower in KL than in Johor, the 2010 starting average price in Kuala Lumpur was significantly higher. As a result, in ringgit terms, home prices in KL have increased by more than in any other state.

“The average home price in KL has increased from about RM396,000 to around RM827,000 since 2010, an increase of about 431,000 ringgit. So, while KL is the most expensive market in the country by a wide margin, it also rewards homeowners with high returns.

“What this proves is that where you buy matters just as much as what you buy. Economic and other forces in the different states push up property prices at different rates.

“The states that have delivered the fastest growth in relative terms since 2010 are Johor, Kedah, Negeri Sembilan, Perak, Kelantan, and Perlis, in that order. In every one of these states, the average home today is worth at least 2.4 times the average cost in 2010.”

Where to Bet on Price Growth in the Next 15 Years

“The 15-year data points to where the property market is going in the next few years,” Mr Ansari said.

“The most important trend is what I call the great catch-up. States where housing is most affordable have been closing the gap with more expensive states like KL. States like Kedah, Kelantan, Johor, and Melaka still have room to close the gap further. That could mean there is more growth ahead in those markets.

“Buyers today might take away one lesson about which states have the most future potential. The biggest opportunities are probably in states where home prices are well below the national average and also where they have been rapidly and growing in more recent years.

Average home prices are derived from NAPIC’s hedonic Malaysian House Price Index, which 1 controls for property type and characteristics rather than simply averaging transaction prices.

“Let’s look at the 2019 to 2026 data to identify the states that fit these criteria. They are not necessarily the most glamorous investment hotspots, but over the next 15 years they could be among the best performing

“Kelantan is one state that might fit this bill. The average home price there is about 45% lower than the national average. Yet, it is up by 49% since 2019.

“Another state, Kedah has seen its average home price grow by the same 49% since 2019. In Perlis, the average price today is 7.2% higher than a year ago. That’s the fastest growth over the past 12 months of any state. The average home price in Perlis is also about half the national average, so there is still more room to grow.

“Melaka and Perak also benefit from relatively low home prices and rapid price growth.

“Buyers will choose where to purchase based on their own personal circumstances and their own due diligence. I’m not giving investment advice here. I’m just highlighting market trends.

“It is clear that owning property anywhere in Malaysia has been a good decision over 15 years. Every single state has seen prices at least double. And this data gives us no reason to think that pattern is about to change

“The full data table is attached as an appendix.”

— end of media release —

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