Property prices for rent in Penang region
The average rent price in the Penang region has remained at pretty much the same value in recent months. Rent prices in this region have remained pretty much the same.
The price per sq.feet in Penang has barely changed in the last 6 months. During October, the average price per sq.feet was RM 1.6. In November the price barely changed remaining at RM 1.65 per sq.feet. The following two months (December, January) went through a rise of 106 % in the rent price per sq.feet rising from RM 1.62 to RM 1.73 per sq.feet. In the last two months, the price has barely changed with regard to the average value for the last 4 months going from an average price per sq.feet of RM 1.67 to RM 1.64 during February and March.
When referring to the price in Penang(region), this has risen considerably in the last 6 months. The average rent price in October is RM 1,966. In November the price rose to RM 2,066. The price in the following months (December, January) had a strong rise of 139 % going from RM 2,016 to RM 2,792.5. During the last two months the price has gone down 86 % compared to the previous average values going from RM 2,404.25 a RM 2,066 in February y March.
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 29 % cheaper than the average price in Penang followed by those with 2 with an average price of RM 1,848. The most expensive properties have 1 bedroom. They are 14 % more expensive than the average followed by those properties with 4 bedrooms priced at RM 2,378.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of RM 1.24 / sq.feet being RM 1.73 / sq.feet the average for Penang. The properties with the highest average price are those with 1 bedroom. These are 97 % more expensive than the average followed by those with 2 bedrooms with a price of RM 2.14 / sq.feet.
The graph displaying the average rent price according to the property type shows "House" as the most affordable one. With an average cost of RM 2,274 it is 39 % cheaper than the average in Penang. This is followed by "Condominium" with a cost of RM 1,876. The most expensive property type is "Link House" and is 1147 % more costly than the average, followed by "Semi Detached House" with a cost of RM 8,110.
Based upon the average cost per sq.feet the most affordable property type is "Apartment with a an average price of RM 1.15 / sq.feet, followed by "House" with a price of RM 1.59 / sq.feet. "Semi Detached House" with an average price of RM 2.96 / sq.feet is the most expensive type of property followed by "Link House" at a price of RM 2.08 / sq.feet.
