The rent prices in real estate in Hout Bay, in the Western Cape 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 m² in Hout Bay has risen strongly during the last 6 months. In October, the average price per m² was R 172,75. In the following month the price per m² rose to R 186,23. The price for the following two months in (December, January) had a considerable rise of 133 %. The price per m² has hardly changed in the last two months compared to the average price of the previous four months going from an average price of R 209,02 to R 209,07 during February y March
When referring to the price in Hout Bay (cities & towns), this has fallen in the last 6 months. The average price for October is R 57 000. During November the price had a considerable fall till R 38 000. During the following two months (December, January) the average price had a considerable rise of 123 % 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 93 %, going from R 52 972,25 to R 49 447 in February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of R 51 400 they are 72 % more affordable than the average price for Hout Bay . The properties with the highest average price have 1 bedroom, Their price is 157 % more expensive than the average. After that we have properties with 4 bedrooms priced at R 62 416.
With regard to the average price per m², those properties with 3 bedrooms are the most affordable ones at a cost of R 126 / m², with an average R 199,56 / m² price in Hout Bay. The properties with the most expensive average prices have 1 bedroom. They are 1103 % more expensive than the average followed by properties with 2 bedrooms with a price at R 161 / m².
The graph displaying the average rent prices displays the property type "" as the most affordable one. At an cost of R 51 400 it is 77 % more affordable than the average price in Hout Bay. "Apartment" is seen as the second most affordable property type. The most affordable property is "House" followed by "Townhouse". At a price of R 20 865 it is 32 % more affordable than the average price.
According to the average cost per m², the most affordable property is "Flat" at an average price of R 91 / m² followed by "Townhouse" priced at R 116 / m². "House" is the most expensive type of property with a R 4 694 / m² value followed by "Apartment" with an average price of R 152 / m².