Property prices for rent in Sungai Pinang (Penang)
The rent prices in real estate in Sungai Pinang, in the Penang 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 Sungai Pinang has risen strongly during the last 6 months. In October, the average price per sq.feet was RM 1.9. In November this price barely changed remaining at RM 1.84 per sq.feet. In the following two months the price per sq.feet has risen 114 %, going from RM 1.87 to RM 2.12 per sq.feet. The price per sq.feet has had a considerable rise of 133 % 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 2 to RM 2.66 during February, and March.
When referring to the price in Sungai Pinang (cities), this has risen considerably in the last 6 months. The average price during our first sample month during October, is RM 2,244. During November the price went through a considerable rise reaching RM 3,229. In the following two months the average price has hardly changed with regard to the previous two months from RM 2,736.5 to RM 2,680. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 124 % 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 4,025 they are 59 % more affordable than the average price for Sungai Pinang . The properties with the lowest average price have 2 bedrooms, Their price is 37 % more affordable than the average. After that we have properties with 1 bedroom priced at RM 2,315.
According to average price per property type in Sungai Pinang, "" priced at RM 1,919 is 52 % lower than the average price (RM 4,025) in this city.
