Property prices for sale in Penang (Negeri Pulau Pinang)

The price per sq.feet in Penang has fallen in the last 6 months. In November, the average price per sq.feet was RM 487. In the following month the price per sq.feet decreased to RM 452. In the following two months the price per sq.feet has increased 109 %, going from RM 469.5 to RM 510.5 per sq.feet. The price per sq.feet has had a considerable deflation of 72 % 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 490 to RM 354.5 during March, and April.

Based upon to the price in Penang (cities), this has gone up considerably in the last 6 months. In our first sample month during November, the average price is RM 775,297. In December This price remains at RM 780,691. During the following two months (January, February) the average price had a considerable increase of 136 % 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 gone up 110 % 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 1,053,748 they are 46 % more affordable than the average price for Penang. The properties with the highest average price have 1 bedroom, Their price is 87 % more costly than the average. After that we have properties with 4 bedrooms priced at RM 1,131,188.

With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of RM 465 / sq.feet, with an average RM 360 / sq.feet price in Penang. The properties with the highest average prices have 4 bedrooms. They are 52 % more expensive than the average followed by properties with 3 bedrooms with a price at RM 526 / sq.feet.

The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of RM 1,053,748 it is 48 % cheaper than the average price in Penang. "Condominium" 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 2,098,891 it is 190 % more expensive than the average price.

According to the average cost per sq.feet, the most expensive property type would be "Condominium" at an average cost of RM 481 / sq.feet followed by "Terraced House" priced at RM 491 / sq.feet. "Bungalow" is the most costly type of property with a RM 765 / sq.feet cost followed by "Detached House" with an average price of RM 609 / sq.feet.