Based on reports, Kuala Lumpur has retained its spot as Malaysia’s most expensive property market.

A subsale home price averages at RM801,557 for the first quarter or the year, surpassing the average price for a new home at RM708,462.

Following KL, is Sarawak, Sabah and Johor. Besides that, Sabah, Johor and Kedah were the top three most expensive states for new home sales.

Terengganu has the lowest average subsale home price at RM293,714, followed by Perak, Kedah and Pahang. For new units, Melaka is the least expensive for Q1 with an average price of RM305,463.

Pahang, Perak and Kelantan follows Melaka for most affordable states to buy new units in.

"The average interest rate for a new housing loan was 4.2 per cent at the end of the year, according to Bank Negara. We calculated how much a buyer of an RM300,000 home would have to pay every month.

"If a buyer puts down RM30,000 on a RM300,000 home, their monthly mortgage expense would be RM1,228 per month. That makes buying an affordable home significantly cheaper than the average rental, which is RM1,975," said Juwai IQI Group co-founder.

He notdd that buying an affordable home would save a homebuyer RM747/month compared to paying average rent.

"The data on monthly expenses can help buyers understand their financial position when considering the purchase of a home. You need to know your budget when assessing long-term affordability and payoff amidst fluctuating economic conditions.

"We continue to believe that owning your own home is the shortest route to financial security and independence for most Malaysians," he added.