Property prices for rent in Negeri Pulau Pinang region
The average rent price in the Negeri Pulau Pinang region has had an strong rise in recent months. There has been a strong rise in the rent prices in this region.
The price per sq.feet in Negeri Pulau Pinang has risen considerably in the last 6 months. During November, the average price per sq.feet was RM 1.96. In December the price barely changed remaining at RM 1.98 per sq.feet. The following two months (January, February) went through a rise of 109 % in the rent price per sq.feet rising from RM 1.97 to RM 2.15 per sq.feet. In the last two months, the price per sq.feet has had a significant rise of 131 %. This has been obtained by comparing the price of RM 2.06 for the first four months of the sample with regard to the previous 4 months and the price of RM 2.7 per sq.feet for the last two months (March, April).
When referring to the price in Negeri Pulau Pinang(region), this has risen considerably in the last 6 months. In the first month sample November the average price is RM 2,763. In December the price remains at RM 2,867. The price in the following months (January, February) had a strong rise of 119 % going from RM 2,815 to RM 3,338. During the last two months the price has had a considerable rise of 167 % with respect to the previous four months going from RM 3,076.5 a RM 5,129.
The graph displaying the the average rent price per number of bedrooms shows that those with 3 bedrooms are the most affordable ones. They are 48 % cheaper than the average price in Negeri Pulau Pinang followed by those with 1 with an average price of RM 3,865. The most affordable properties have 2 bedrooms. They are 12 % cheaper than the average followed by those properties with 4 bedrooms priced at RM 3,980.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of RM 1.62 / sq.feet being RM 2.94 / sq.feet the average for Negeri Pulau Pinang. The properties with the highest average price are those with 2 bedrooms. These are 30 % more expensive than the average followed by those with 1 bedroom with a price of RM 3.13 / sq.feet.
The graph displaying the average rent price according to the property type shows "" as the most affordable one. With an average cost of RM 5,862 it is 44 % cheaper than the average in Negeri Pulau Pinang. This is followed by "Apartment" with a cost of RM 3,687. The most expensive property type is "Link House" and is 271 % more costly than the average, followed by "House" with a cost of RM 16,333.
Based upon the average cost per sq.feet the most affordable property type is "Shop Office with a an average price of RM 1 / sq.feet, followed by "House" with a price of RM 2.36 / sq.feet. "Condominium" with an average price of RM 4.4 / sq.feet is the most expensive type of property followed by "Link House" at a price of RM 4 / sq.feet.
