Property prices for sale in George Town (Negeri Pulau Pinang)

The price per sq.feet in George Town has remained the same in the last 6 months. In October, the average price per sq.feet was RM 594. In November this price pretty much remained the same at a value of RM 607 per sq.feet. In the following two months the price per sq.feet has barely changed, going from RM 600.5 to RM 572.5 per sq.feet. The price per sq.feet has increased 111 % 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 586.5 to RM 650.5 during February, and March.

Based upon to the price in George Town (cities), this has gone up in the last 6 months. In our first sample month during October, the average price is RM 853,563. In November This price remains at RM 869,538. During the following two months (December, January) the average price fell 89 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 150 % during the last two months.

The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of RM 1,300,531 they are 56 % more affordable than the average price for George Town. The properties with the highest average price have 4 bedrooms, Their price is 41 % more costly than the average. After that we have properties with 3 bedrooms priced at RM 659,119.

With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 594 / sq.feet, with an average RM 669 / sq.feet price in George Town. The properties with the highest average prices have 1 bedroom. They are 48 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 735 / sq.feet.

The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of RM 1,300,531 it is 28 % cheaper than the average price in George Town. "Link House" 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 2,837,500 it is 502 % more expensive than the average price.

According to the average cost per sq.feet, the cheapest property type is "Condominium" at an average cost of RM 603 / sq.feet followed by "Apartment" priced at RM 627 / sq.feet. "Bungalow" is the most costly type of property with a RM 1,330 / sq.feet cost followed by "Semi Detached House" with an average price of RM 948 / sq.feet.