The rent prices in real estate in Langebaan, in the Western Cape 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 Langebaan has had a strong fall during the last 6 months. In October, the average price per m² was R 105,6. In the following month the price per m² fell considerably to R 34,53. The price for the following two months in (December, January) had a considerable fall of 68 with regard to the previous two months. The price per m² has fallen 85 % 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 58,76 to R 50,18 during February, and March.
When referring to the price in Langebaan (cities & towns), this has fallen in the last 6 months. The average price for October is R 17 296. During November the price had a slight fall till R 15 275. During the following two months (December, January) the average price fell 92 % 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 15 653,25 and R 15 301 between 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 15 227 they are 46 % more affordable than the average price for Langebaan . The properties with the highest average price have 4 bedrooms, Their price is 23 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 16 532.
With regard to the average price per m², those properties with 4 bedrooms are the most expensive ones at a cost of R 62 / m², with an average R 49,51 / m² price in Langebaan. The properties with the most expensive average prices have 1 bedroom. They are 278 % more expensive than the average followed by properties with 3 bedrooms with a price at R 76 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of R 15 227 it is 31 % more affordable than the average price in Langebaan. "Townhouse" is seen as the second most affordable property type. The most affordable property is "Farm" followed by "House". At a price of R 13 673 it is 4 % more affordable than the average price.
According to the average cost per m², the most affordable property is "Townhouse" at an average price of R 24 / m² followed by "Land" priced at R 30 / m². "House" is the most expensive type of property with a R 6 646 / m² value followed by "Apartment" with an average price of R 107 / m².