Property prices for sale in City Centre (Kuala Lumpur)
The prices in real estate in City Centre, 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 City Centre has had a strong decrease during the last 6 months. In October, the average price per sq.feet was RM 696. In November this price pretty much remained the same at a value of RM 675 per sq.feet. The price for the following two months in (December, January) had a considerable decrease of 85 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 81 % 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 633.25 to RM 512.5 during February, and March.
Based upon to the price in City Centre (cities), this has fallen considerably in the last 6 months. The average price for October is RM 1,315,507. During November the price had a slight fall till RM 1,244,538. During the following two months (December, January) the average price had a considerable reduction of 60 % 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 1,024,997.5 to RM 599,381.5, which means a 58 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of RM 591,065 they are 2 % more affordable than the average price for City Centre. The properties with the highest average price have 4 bedrooms, Their price is 43 % more costly than the average. After that we have properties with 2 bedrooms priced at RM 680,319.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 517 / sq.feet, with an average RM 520 / sq.feet price in City Centre. The properties with the highest average prices have 1 bedroom. They are 82 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 810 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of RM 591,065 it is 39 % cheaper than the average price in City Centre. "Condominium" is seen as the second most affordable property type. The dearest property type is "Link House" followed by "Serviced Residence". At a price of RM 2,993,529 it is 4237 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of RM 368 / sq.feet followed by "Condominium" priced at RM 556 / sq.feet. "Retail" is the most costly type of property with a RM 2,006 / sq.feet cost followed by "Serviced Residence" with an average price of RM 1,581 / sq.feet.
