Property prices for rent in Tanjung Tokong (Negeri Pulau Pinang)
The rent prices in real estate in Tanjung Tokong, 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 Tanjung Tokong has risen strongly during the last 6 months. In October, the average price per sq.feet was RM 1.71. In November this price barely changed remaining at RM 1.7 per sq.feet. In the following two months the price per sq.feet has risen 114 %, going from RM 1.71 to RM 1.95 per sq.feet. The price per sq.feet has had a considerable rise of 126 % 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 1.83 to RM 2.3 during February, and March.
When referring to the price in Tanjung Tokong (cities), this has risen considerably in the last 6 months. In our first sample month during October, the average price is RM 2,209. In November This price remains at RM 2,129. During the following two months (December, January) the average price had a considerable rise of 120 % 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 had a strong increase of 134 % 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 3,518 they are 29 % more affordable than the average price for Tanjung Tokong . The properties with the highest average price have 4 bedrooms, Their price is 74 % more expensive than the average. After that we have properties with 2 bedrooms priced at RM 4,965.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of RM 1.74 / sq.feet, with an average RM 2.45 / sq.feet price in Tanjung Tokong. The properties with the most expensive average prices have 2 bedrooms. They are 39 % more expensive than the average followed by properties with 1 bedroom with a price at RM 3.32 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of RM 3,518 it is 76 % more affordable than the average price in Tanjung Tokong. "Link House" is seen as the second most affordable property type. The most expensive property type is "" followed by "House". At a price of RM 5,567 it is 109 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of RM 1.2 / sq.feet followed by "House" priced at RM 1.42 / sq.feet. "Link House" is the most expensive type of property with a RM 3.45 / sq.feet value followed by "Condominium" with an average price of RM 2.66 / sq.feet.
