Problem is there really isn't a market price. Bad enough anyone now claims they can do website design and development. Worst still, customers are uneducated of the difference between someone who just gets the job done and an experienced individual or team who can bring them the most effective results because all they think about is "wow, that's a lot of zeros compared to that other person". Plus, they're careless at times when they take to heart all the hearsay from others about what defines a good website to that person.
So the best advice is try to come up with your hourly rate. When I used to ponder on this question, the calculator from Freelance Switch helped me out a little;
http://freelanceswitch.com/rates/After I got my hourly rate, I thought about how long on average I'd work on a project and adjust my prices accordingly to not be too pricey and not too cheap. In addition, what I've learned along the way is it's best to know who's the customer you're targeting as that also may involve adjusting your prices accordingly. For example; if you want big companies like IBM, you'll have to charge more because they may not trust your ability at times if your prices are too low.
The hardest part about freelancing in Malaysia is most of the market still only needs or wants a website. They don't think further than that unlike some of the Singapore and international business owners.
However, when you do get a client who appreciates the work you do and understands the value you bring, they'll be with you for life, so to speak.
