The rent prices in real estate in Geylang, in the 14 Central East, Eunos region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Geylang has risen strongly during the last 6 months. In September, the average price per sq.feet was S$ 56.9. In the following month the price per sq.feet rose considerably to S$ 71.22. In the following two months the price per sq.feet has risen 109 %, going from S$ 64.06 to S$ 70.04 per sq.feet. The price per sq.feet has risen 107 % 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 S$ 67.05 to S$ 71.92 during January, and February.
When referring to the price in Geylang (cities), this has fallen in the last 6 months. The average price for September is S$ 2,120. During October the price had a slight fall till S$ 1,976. During the following two months (November, December) the average price fell 94 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 91 %, going from S$ 1,985 to S$ 1,810.5 in January and February.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of S$ 1,873 they are 6 % more affordable than the average price for Geylang . The properties with the highest average price have 3 bedrooms, Their price is 121 % more expensive than the average. After that we have properties with 2 bedrooms priced at S$ 3,325.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of S$ 2 / sq.feet, with an average S$ 69.87 / sq.feet price in Geylang. The properties with the most affordable average prices have 1 bedroom. They are 6 % more affordable than the average followed by properties with 2 bedrooms with a price at S$ 53.52 / sq.feet.
With regard to the average price based on the property in Geylang we can see that the least affordable type of property is "HDB House" at S$ 2,399, which is 28 % more expensive than the average price. "HDB House" has the most expensive price. This price is 28 % more expensive than the average price aforementioned.
According to the average area price by sq.feet the most affordable property type is "HDB House with an average cost of S$ 61 / sq.feet. "HDB House" with an average price of S$ 61 / sq.feet has the most affordable price and would be directed at less affluent cities.