The prices in real estate in Mid Valley City, in the Kuala Lumpur region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Mid Valley City has had a strong decrease during the last 6 months. In February, the average price per sq.feet was RM 831. In March this price pretty much remained the same at a value of RM 822 per sq.feet. The price for the following two months in (April, May) had a considerable decrease of 70 with regard to the prior two months. The price per sq.feet has increased 105 % 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 704.25 to RM 740 during June, and July.
Based upon to the price in Mid Valley City (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is RM 1,275,753. In March This price remains at RM 1,226,295. During the following two months (April, May) the average price had a considerable reduction of 60 % 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 118 % 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 1,808,663 they are 54 % more affordable than the average price for Mid Valley City. The properties with the highest average price have 4 bedrooms, Their price is 136 % more costly than the average. After that we have properties with 1 bedroom priced at RM 2,177,089.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of RM 719 / sq.feet, with an average RM 989 / sq.feet price in Mid Valley City. The properties with the highest average prices have 4 bedrooms. They are 120 % more expensive than the average followed by properties with 1 bedroom with a price at RM 1,063 / sq.feet.
The graph displaying the average prices displays the property type "Terraced House" as the most affordable one. At an cost of RM 1,808,663 it is 48 % cheaper than the average price in Mid Valley City. "Condominium" is seen as the second most affordable property type. The dearest property type is "Bungalow" followed by "Commercial". At a price of RM 2,866,292 it is 136 % 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 347 / sq.feet followed by "Condominium" priced at RM 836 / sq.feet. "Office" is the most costly type of property with a RM 1,120 / sq.feet cost followed by "Commercial" with an average price of RM 1,089 / sq.feet.