Malaysia continued to record high levels of home ownership in 2024, providing a stable base for household finances across income groups. According to the Basic Amenities Survey released by the Department of Statistics Malaysia, 78.0% of Malaysian households owned their living quarters during the year.

For many families, owning a home remains one of the largest financial commitments they will make, affecting monthly spending, long-term savings, and retirement planning.

Home Ownership Is Widespread Across Income Levels

Home ownership remained strong across different income levels. Households with higher incomes recorded the highest ownership rate at 85.5%. Middle-income households followed at 75.9%, while lower-income households recorded 76.3%.

These figures suggest that home ownership continues to be achievable across income groups, although affordability, loan access, and location still play an important role in buying decisions.

Ownership By Ethnicity Shows Gradual Improvement

The survey also reported home ownership by ethnicity of the Head of Household. Bumiputera households recorded a home ownership rate of 75.0%, improving from 73.3% previously.

This gradual increase reflects wider access to home ownership opportunities across communities, supported by housing supply and financing options in different price ranges.

State-Level Differences Reflect Housing Market Pressures

Home ownership varied across states. Melaka, Perlis, Kedah, Kelantan, and Perak recorded ownership rates above 85%, followed by Sarawak at 84.5%.

In contrast, more urbanised areas recorded lower ownership levels. W.P. Kuala Lumpur and W.P. Labuan recorded ownership rates slightly above 61%, while W.P. Putrajaya recorded the lowest ownership level at 27.1%. These differences reflect higher property prices, a stronger rental market, and demographic factors in urban centres.

What Home Ownership Means For Personal Finances

Owning a home can provide long-term financial stability by reducing exposure to rent increases and allowing households to build equity over time. However, it also involves ongoing costs such as loan repayments, maintenance, insurance, and assessment taxes.

Understanding these costs is important when planning monthly budgets and long-term financial goals.

Planning Ahead For Home Ownership

The 2024 figures show that home ownership remains within reach for many Malaysian households. At the same time, lower ownership rates in major urban areas highlight the need for careful financial planning.

Assessing income stability, existing debts, and long-term housing needs can help households make informed decisions, whether buying a first home, upgrading to a larger property, or choosing to rent while building savings.

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