KUALA LUMPUR, April 30 -- The price of a new apartment has risen to an average of RM582,887 in Malaysia, according to data released by global real estate network IQI.

IQI, which is a member of the international real estate technology group Juwai IQI, said in its Residential Sales Market Report for Malaysia's first quarter of 2024 that this figure was above the National Property Information Centre's (NAPIC) 2023 average house price, which was RM467,144.

According to Juwai IQI co-founder and group ceo Kashif Ansari, the average subsale sales price across Malaysia in the first quarter of the year was RM521,614 and was highest in Kuala Lumpur.

"It is no surprise that Kuala Lumpur has the most expensive property in the country. The average ...