The prices in real estate in Sri Petaling, in the Kuala Lumpur region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Sri Petaling has increased strongly during the last 6 months. In September, the average price per sq.feet was RM 433. In the following month the price per sq.feet increased considerably to RM 562. In the following two months the price per sq.feet has increased 105 %, going from RM 497.5 to RM 524.5 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 511 to RM 526.5 during January y February
Based upon to the price in Sri Petaling (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during September, is RM 515,961. During October the price went through a considerable rise reaching RM 1,295,247. During the following two months (November, December) the average price had a considerable increase of 132 % 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 120 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of RM 1,342,274 they are 74 % more affordable than the average price for Sri Petaling. The properties with the lowest average price have 4 bedrooms, Their price is 37 % cheaper than the average. After that we have properties with 3 bedrooms priced at RM 515,445.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of RM 449 / sq.feet, with an average RM 524 / sq.feet price in Sri Petaling. The properties with the highest average prices have 2 bedrooms. They are 6 % more expensive than the average followed by properties with 4 bedrooms with a price at RM 478 / sq.feet.
The graph displaying the average prices displays the property type "Condominium" as the most affordable one. At an cost of RM 1,342,274 it is 63 % cheaper than the average price in Sri Petaling. "Serviced Residence" is seen as the second most affordable property type. The dearest property type is "Shop" followed by "Bungalow". At a price of RM 3,309,276 it is 285 % 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 432 / sq.feet followed by "Link House" priced at RM 439 / sq.feet. "Shop" is the most costly type of property with a RM 868 / sq.feet cost followed by "Semi Detached House" with an average price of RM 710 / sq.feet.