The rent prices in real estate in Empangeni, in the Kwazulu-natal region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per m² in Empangeni has had a strong fall during the last 6 months. In November, the average price per m² was R 42,85. In the following month the price per m² fell to R 37,07. The price for the following two months in (January, February) had a considerable fall of 51 with regard to the previous two months. The price per m² has had a considerable fall of 59 % 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 m² of R 30,21 to R 17,73 during March, and April.
When referring to the price in Empangeni (cities & towns), this has fallen in the last 6 months. In our first sample month during November, the average price is R 10 922. In December This price remains at R 11 360. During the following two months (January, February) the average price had a considerable fall of 84 % with regard to the previous two months. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of R 10 246 and R 10 458,5 between March and April.
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 R 11 044 they are 68 % more affordable than the average price for Empangeni . The properties with the highest average price have 3 bedrooms, Their price is 22 % more expensive than the average. After that we have properties with 2 bedrooms priced at R 6 353.
With regard to the average price per m², those properties with 3 bedrooms are the most expensive ones at a cost of R 22 / m², with an average R 21,71 / m² price in Empangeni. The properties with the most expensive average prices have 2 bedrooms. They are 305 % more expensive than the average followed by properties with 1 bedroom with a price at R 57 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of R 11 044 it is 47 % more affordable than the average price in Empangeni. "Flat" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Commercial". At a price of R 9 477 it is 18 % more expensive than the average price.
According to the average cost per m², the least affordable property would be "Flat" at an average price of R 26 / m² followed by "Commercial" priced at R 38 / m². "Townhouse" is the most expensive type of property with a R 107 / m² value followed by "House" with an average price of R 55 / m².