The prices in real estate in Bukit Bintang, in the Kuala Lumpur region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Bukit Bintang has increased strongly during the last 6 months. In August, the average price per sq.feet was RM 1,344. In the following month the price per sq.feet increased to RM 1,524. In the following two months the price per sq.feet has increased 109 %, going from RM 1,434 to RM 1,563.5 per sq.feet. The price per sq.feet has increased 112 % 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 1,498.75 to RM 1,676.5 during December, and January.
Based upon to the price in Bukit Bintang (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during August, is RM 1,536,802. During September the price went through a considerable rise reaching RM 2,825,611. During the following two months (October, November) the average price fell 89 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from RM 2,062,449.25 to RM 1,722,596.5, which means a 84 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 3 bedrooms are the cheapest ones. At a price of RM 1,808,209 they are 27 % more affordable than the average price for Bukit Bintang. The properties with the highest average price have 4 bedrooms, Their price is 37 % more costly than the average. After that we have properties with 2 bedrooms priced at RM 1,527,031.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 974 / sq.feet, with an average RM 1,765 / sq.feet price in Bukit Bintang. The properties with the highest average prices have 1 bedroom. They are 13 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 1,527 / sq.feet.
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of RM 1,808,209 it is 16 % cheaper than the average price in Bukit Bintang. "Apartment" is seen as the second most affordable property type. The dearest property type is "Resort" followed by "Shop". At a price of RM 6,546,873 it is 1741 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Serviced Residence" at an average cost of RM 1,423 / sq.feet followed by "Apartment" priced at RM 1,528 / sq.feet. "Retail" is the most costly type of property with a RM 3,700 / sq.feet cost followed by "Shop" with an average price of RM 2,505 / sq.feet.