The prices in real estate in Geylang, in the 14 Central East, Eunos 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 Geylang has increased strongly during the last 6 months. In October, the average price per sq.feet was S$ 6,096. In the following month the price per sq.feet increased to S$ 6,437. In the following two months the price per sq.feet has increased 108 %, going from S$ 6,266.5 to S$ 6,761.5 per sq.feet. The price per sq.feet has had a considerable increase of 116 % 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$ 6,514 to S$ 7,552.5 during February, and March.
Based upon to the price in Geylang (cities), this has gone up in the last 6 months. In our first sample month during October, the average price is S$ 546,050. In November This price remains at S$ 530,518. In the following two months the average price has remained the same with regard to the previous two months from S$ 538,284 to S$ 546,425.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 125 % 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 S$ 724,540 they are 62 % more affordable than the average price for Geylang. The properties with the highest average price have 4 bedrooms, Their price is 3 % more costly than the average. After that we have properties with 3 bedrooms priced at S$ 723,202.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of S$ 3,888 / sq.feet, with an average S$ 8,010 / sq.feet price in Geylang. The properties with the lowest average prices have 4 bedrooms. They are 24 % cheaper than the average followed by properties with 2 bedrooms with a price at S$ 4,886 / sq.feet.
With regard to the average price based upon the property in Geylang we can see that the cheapest property type is "HDB House" at a price of S$ 547,314, they are 24 % more affordable than the average price of (!PRECIO2!). "HDB House" has the lowest price. This price is 24 % more affordable than the average price aforementioned.
According to the average area cost by sq.feet the cheapest property type is "HDB House with an average price of S$ 6,689 / sq.feet. "HDB House" with an average cost of S$ 6,689 / sq.feet has the lowest price and would be directed at less affluent cities.