The prices in real estate in Bukit Bintang, in the Kuala Lumpur region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Bukit Bintang has had a strong decrease during the last 6 months. In December, the average price per sq.feet was RM 1,432. In January this price pretty much remained the same at a value of RM 1,368 per sq.feet. The price for the following two months in (February, March) had a considerable decrease of 80 with regard to the prior two months. The price per sq.feet has decreased 93 % 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 1,258.75 to RM 1,164.5 during April, and May.
Based upon to the price in Bukit Bintang (cities), these have remained the same in the last 6 months. In our first sample month during December, the average price is RM 3,125,710. In January This price remains at RM 3,166,304. During the following two months (February, March) the average price had a considerable reduction of 80 % 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 risen strongly 140 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of RM 3,569,015 they are 71 % more affordable than the average price for Bukit Bintang. The properties with the lowest average price have 4 bedrooms, Their price is 25 % cheaper than the average. After that we have properties with 2 bedrooms priced at RM 1,169,378.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 689 / sq.feet, with an average RM 1,093 / sq.feet price in Bukit Bintang. The properties with the highest average prices have 1 bedroom. They are 26 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 1,128 / sq.feet.
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of RM 3,569,015 it is 73 % cheaper than the average price in Bukit Bintang. "Serviced Residence" is seen as the second most affordable property type. The dearest property type is "Resort" followed by "Commercial". At a price of RM 10,041,761 it is 670 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condominium" at an average cost of RM 888 / sq.feet followed by "Office" priced at RM 1,173 / sq.feet. "Shop" is the most costly type of property with a RM 1,621 / sq.feet cost followed by "Commercial" with an average price of RM 1,381 / sq.feet.