The rent prices in real estate in Georgetown, in the Penang region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per sq.feet in Georgetown has fallen during the last 6 months. In November, the average price per sq.feet was RM 2.02. In the following month the price per sq.feet fell to RM 1.87. The price for the following two months in (January, February) fell 95 % with regard to the previous two months. The price per sq.feet has hardly changed in the last two months compared to the average price of the previous four months going from an average price of RM 1.89 to RM 1.94 during March y April
When referring to the price in Georgetown (cities), this has fallen in the last 6 months. The average price for November is RM 3,434. During December the price had a slight fall till RM 3,221. During the following two months (January, February) the average price fell 88 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has increased 111 % during the last two months.
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 3,997 they are 53 % more affordable than the average price for Georgetown . The properties with the lowest average price have 4 bedrooms, Their price is 5 % more affordable than the average. After that we have properties with 1 bedroom priced at RM 2,166.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of RM 1.48 / sq.feet, with an average RM 2.02 / sq.feet price in Georgetown. The properties with the most expensive average prices have 1 bedroom. They are 33 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 2.15 / sq.feet.
The graph displaying the average rent prices displays the property type "Condominium" as the most affordable one. At an cost of RM 3,997 it is 53 % more affordable than the average price in Georgetown. "Link House" is seen as the second most affordable property type. The most expensive property type is "Bungalow" followed by "Semi Detached House". At a price of RM 5,256 it is 230 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Link House" at an average price of RM 1.32 / sq.feet followed by "Condominium" priced at RM 1.7 / sq.feet. "Bungalow" is the most expensive type of property with a RM 2.42 / sq.feet value followed by "Semi Detached House" with an average price of RM 2.21 / sq.feet.