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 February, the average price per sq.feet was RM 782. In March this price pretty much remained the same at a value of RM 775 per sq.feet. In the following two months the price per sq.feet has barely changed, going from RM 778.5 to RM 761 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 769.75 to RM 762.5 during June y July
Based upon to the price in Georgetown (cities), these have remained the same in the last 6 months. In our first sample month during February, the average price is RM 2,097,066. In March This price remains at RM 2,118,374. During the following two months (April, May) the average price fell 93 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of RM 2,034,296.25 and RM 1,973,941 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of RM 2,016,847 they are 62 % more affordable than the average price for Georgetown. The properties with the highest average price have 4 bedrooms, Their price is 3 % more costly than the average. After that we have properties with 3 bedrooms priced at RM 1,159,285.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 706 / sq.feet, with an average RM 799 / sq.feet price in Georgetown. The properties with the highest average prices have 1 bedroom. They are 32 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 766 / sq.feet.
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of RM 2,016,847 it is 55 % cheaper than the average price in Georgetown. "Apartment" is seen as the second most affordable property type. The dearest property type is "Bungalow" followed by "Commercial". At a price of RM 2,936,238 it is 254 % 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 609 / sq.feet followed by "Terraced House" priced at RM 746 / sq.feet. "Bungalow" is the most costly type of property with a RM 1,189 / sq.feet cost followed by "Semi Detached House" with an average price of RM 852 / sq.feet.