The prices in real estate in Georgetown, in the Penang region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Georgetown has fallen in the last 6 months. In July, the average price per sq.feet was RM 799. In the following month the price per sq.feet decreased to RM 700. In the following two months the price per sq.feet has barely changed, going from RM 749.5 to RM 724.5 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 737 to RM 744 during November y December
Based upon to the price in Georgetown (cities), this has gone downing the last 6 months. In our first sample month during July, the average price is RM 2,016,847. In August This price remains at RM 1,938,061. During the following two months (September, October) 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 1,905,394.5 and RM 1,855,847.5 between November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of RM 1,997,800 they are 61 % more affordable than the average price for Georgetown. The properties with the lowest average price have 4 bedrooms, Their price is 5 % cheaper than the average. After that we have properties with 1 bedroom priced at RM 1,198,000.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of RM 701 / sq.feet, with an average RM 766 / sq.feet price in Georgetown. The properties with the highest average prices have 1 bedroom. They are 37 % more expensive than the average followed by properties with 2 bedrooms with a price at RM 781 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of RM 1,997,800 it is 40 % cheaper than the average price in Georgetown. "Terraced House" is seen as the second most affordable property type. The dearest property type is "Bungalow" followed by "Shop". At a price of RM 3,040,438 it is 202 % 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 659 / sq.feet followed by "Apartment" priced at RM 703 / sq.feet. "Bungalow" is the most costly type of property with a RM 1,080 / sq.feet cost followed by "Shop" with an average price of RM 855 / sq.feet.