Property prices for rent in Bayan Baru (Penang)
The rent prices in real estate in Bayan Baru, in the Penang region have barely changed in the last couple of months. There have hardly been any changes in the rent prices in this city.
The price per sq.feet in Bayan Baru has barely changed in the last 6 months. In October, the average price per sq.feet was RM 1.91. In November this price barely changed remaining at RM 1.95 per sq.feet. In the following two months the price per sq.feet has risen 106 %, going from RM 1.93 to RM 2.04 per sq.feet. The price per sq.feet has fallen 90 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of RM 1.98 to RM 1.78 during February, and March.
When referring to the price in Bayan Baru (cities), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is RM 2,338. In November This price remains at RM 2,311. In the following two months the average price has hardly changed with regard to the previous two months from RM 2,324.5 to RM 2,429.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 90 %, going from RM 2,377 to RM 2,130 in February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 3 bedrooms are the most affordable ones. At a price of RM 2,158 they are 14 % more affordable than the average price for Bayan Baru . The properties with the highest average price have 1 bedroom, Their price is 175 % more expensive than the average. After that we have properties with 4 bedrooms priced at RM 2,687.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of RM 1.53 / sq.feet, with an average RM 1.81 / sq.feet price in Bayan Baru. The properties with the most expensive average prices have 1 bedroom. They are 98 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 2.22 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of RM 2,158 it is 19 % more affordable than the average price in Bayan Baru. "Condominium" is seen as the second most affordable property type. The most expensive property type is "Shop" followed by "Commercial". At a price of RM 5,063 it is 239 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Terraced House" at an average price of RM 1.29 / sq.feet followed by "Apartment" priced at RM 1.61 / sq.feet. "Shop" is the most expensive type of property with a RM 4.18 / sq.feet value followed by "Commercial" with an average price of RM 3.53 / sq.feet.
