Residential property prices have been rising steadily in Melaka over the past years, recording an average transacted price of RM340,000 in 2024 compared to RM214,000 in 2015, according to Rahim & Co International Property Consultants Sdn Bhd director of research Sulaiman Saheh at the Rahim & Co Property Market Review 2024/2025 presentation on Wednesday.
“We can observe that the Melaka market is actually growing. With that growth, there is increasing demand and hence the [increase in] prices. But if the prices grow too fast, detaching itself from the affordability level, then it will lead to poor affordability, which is not the case here.
“The market in Melaka is known to be very proactive in controlling the house price mechanism, which if you compare among all the states in Malaysia, the most affordable in terms of income to price ratio is actually Melaka,” he said.
