The prices in real estate in Gelugor, in the Penang region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per sq.feet in Gelugor has remained the same in the last 6 months. In May, the average price per sq.feet was RM 618. In June this price pretty much remained the same at a value of RM 642 per sq.feet. In the following two months the price per sq.feet has barely changed, going from RM 630 to RM 647 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 638.5 to RM 646.5 during September y October
Based upon to the price in Gelugor (cities), this has gone up in the last 6 months. In our first sample month during May, the average price is RM 1,085,187. In June This price remains at RM 1,086,137. During the following two months (July, August) the price has had an average incrementation from RM 1,085,662 to RM 1,173,443. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % 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 1,217,288 they are 51 % more affordable than the average price for Gelugor. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at RM 841,213.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of RM 584 / sq.feet, with an average RM 651 / sq.feet price in Gelugor. The properties with the highest average prices have 1 bedroom. They are 61 % more expensive than the average followed by properties with 4 bedrooms with a price at RM 705 / sq.feet.
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of RM 1,217,288 it is 22 % cheaper than the average price in Gelugor. "Apartment" is seen as the second most affordable property type. The dearest property type is "Bungalow" followed by "Semi Detached House". At a price of RM 1,959,200 it is 174 % 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 583 / sq.feet followed by "Semi Detached House" priced at RM 598 / sq.feet. "Bungalow" is the most costly type of property with a RM 695 / sq.feet cost followed by "Condominium" with an average price of RM 669 / sq.feet.