Property prices for rent in George Town (Negeri Pulau Pinang)
The rent prices in real estate in George Town, in the Negeri Pulau Pinang region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in George Town has risen strongly during the last 6 months. In October, the average price per sq.feet was RM 2.72. In the following month the price per sq.feet rose considerably to RM 4.04. The price for the following two months in (December, January) fell 90 % with regard to the previous two months. The price per sq.feet has fallen 88 % 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 3.21 to RM 2.81 during February, and March.
When referring to the price in George Town (cities), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is RM 20,059. In November This price remains at RM 20,250. During the following two months (December, January) the average price had a considerable fall of 76 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 88 %, going from RM 17,716.5 to RM 15,515.5 in February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of RM 15,156 they are 87 % more affordable than the average price for George Town . The properties with the lowest average price have 1 bedroom, Their price is 87 % more affordable than the average. After that we have properties with 2 bedrooms priced at RM 2,028.
According to average price per property type in George Town, "" priced at RM 1,978 is 87 % lower than the average price (RM 15,156) in this city.
