The prices in real estate in Cheras, in the Kuala Lumpur 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 Cheras has increased during the last 6 months. In December, the average price per sq.feet was RM 400. In the following month the price per sq.feet increased to RM 422. In the following two months the price per sq.feet has increased 107 %, going from RM 411 to RM 438.5 per sq.feet. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of RM 424.75 to RM 423 during April y May
Based upon to the price in Cheras (cities), these have remained the same in the last 6 months. The average price during our first sample month during December, is RM 616,870. During January the price went through a considerable rise reaching RM 826,358. During the following two months (February, March) the average price fell 87 % 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 674,382.25 to RM 573,147.5, which means a 85 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of RM 612,893 they are 36 % more affordable than the average price for Cheras. The properties with the lowest average price have 4 bedrooms, Their price is 4 % cheaper than the average. After that we have properties with 3 bedrooms priced at RM 420,194.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of RM 371 / sq.feet, with an average RM 417 / sq.feet price in Cheras. The properties with the highest average prices have 1 bedroom. They are 50 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 502 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of RM 612,893 it is 50 % cheaper than the average price in Cheras. "Condominium" is seen as the second most affordable property type. The dearest property type is "Bungalow" followed by "Link House". At a price of RM 774,336 it is 366 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Terraced House" at an average cost of RM 348 / sq.feet followed by "Apartment" priced at RM 361 / sq.feet. "Serviced Residence" is the most costly type of property with a RM 582 / sq.feet cost followed by "Bungalow" with an average price of RM 529 / sq.feet.