Property prices for sale in Gelugor (Penang)
The prices in real estate in Gelugor, in the Penang 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 Gelugor has increased during the last 6 months. In November, the average price per sq.feet was RM 590. In the following month the price per sq.feet increased to RM 638. In the following two months the price per sq.feet has barely changed, going from RM 614 to RM 622.5 per sq.feet. The price per sq.feet has increased 106 % 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 618.25 to RM 655.5 during March, and April.
Based upon to the price in Gelugor (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is RM 883,793. During December the price went through a considerable rise reaching RM 1,053,579. In the following two months the average price has remained the same with regard to the previous two months from RM 968,686 to RM 962,189.5. Based on an analysis of the first four prices and the last two months the average price has gone up 113 % 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 1,046,485 they are 51 % more affordable than the average price for Gelugor. The properties with the highest average price have 4 bedrooms, Their price is 34 % more costly than the average. After that we have properties with 3 bedrooms priced at RM 758,775.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 610 / sq.feet, with an average RM 657 / sq.feet price in Gelugor. The properties with the highest average prices have 1 bedroom. They are 28 % more expensive than the average followed by properties with 4 bedrooms with a price at RM 713 / sq.feet.
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of RM 1,046,485 it is 31 % 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 "House". At a price of RM 2,275,360 it is 174 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Link House" at an average cost of RM 602 / sq.feet followed by "Condominium" priced at RM 604 / sq.feet. "Bungalow" is the most costly type of property with a RM 939 / sq.feet cost followed by "Semi Detached House" with an average price of RM 675 / sq.feet.
