Property prices for sale in Georgetown (Penang)
The prices in real estate in Georgetown, 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 Georgetown has remained the same in the last 6 months. In October, the average price per sq.feet was RM 614. In November this price pretty much remained the same at a value of RM 604 per sq.feet. In the following two months the price per sq.feet has increased 111 %, going from RM 609 to RM 678.5 per sq.feet. The price per sq.feet has decreased 91 % 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 643.75 to RM 588 during February, and March.
Based upon to the price in Georgetown (cities), this has gone up in the last 6 months. In our first sample month during October, the average price is RM 1,185,411. In November This price remains at RM 1,145,415. During the following two months (December, January) the average price had a considerable increase of 133 % 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 1,354,796.25 to RM 1,040,064, which means a 77 % 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 1,035,524 they are 53 % more affordable than the average price for Georgetown. The properties with the highest average price have 4 bedrooms, Their price is 50 % more costly than the average. After that we have properties with 1 bedroom priced at RM 652,958.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 502 / sq.feet, with an average RM 574 / sq.feet price in Georgetown. The properties with the highest average prices have 1 bedroom. They are 72 % more expensive than the average followed by properties with 4 bedrooms with a price at RM 660 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of RM 1,035,524 it is 79 % cheaper than the average price in Georgetown. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of RM 3,289,933 it is 224 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Flat" at an average cost of RM 326 / sq.feet followed by "Apartment" priced at RM 466 / sq.feet. "Serviced Residence" is the most costly type of property with a RM 1,004 / sq.feet cost followed by "House" with an average price of RM 848 / sq.feet.
