Property prices for sale in Bayan Lepas (Penang)
The prices in real estate in Bayan Lepas, in the Penang region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Bayan Lepas has increased during the last 6 months. In October, the average price per sq.feet was RM 472. In November this price pretty much remained the same at a value of RM 484 per sq.feet. In the following two months the price per sq.feet has increased 106 %, going from RM 478 to RM 507.5 per sq.feet. The price per sq.feet has increased 105 % 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 492.75 to RM 517.5 during February, and March.
Based upon to the price in Bayan Lepas (cities), these have remained the same in the last 6 months. In our first sample month during October, the average price is RM 627,460. In November This price remains at RM 645,809. In the following two months the average price has remained the same with regard to the previous two months from RM 636,634.5 to RM 626,434.5. Based on an analysis of the first four prices and the last two months the average price has gone up 105 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of RM 621,395 they are 28 % more affordable than the average price for Bayan Lepas. The properties with the highest average price have 4 bedrooms, Their price is 59 % more costly than the average. After that we have properties with 3 bedrooms priced at RM 579,074.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 498 / sq.feet, with an average RM 527 / sq.feet price in Bayan Lepas. The properties with the highest average prices have 1 bedroom. They are 74 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 595 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of RM 621,395 it is 62 % cheaper than the average price in Bayan Lepas. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Link House". At a price of RM 1,102,238 it is 111 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Flat" at an average cost of RM 374 / sq.feet followed by "Terraced House" priced at RM 461 / sq.feet. "Apartment" is the most costly type of property with a RM 532 / sq.feet cost followed by "Condominium" with an average price of RM 530 / sq.feet.
