The rent prices in real estate in New Germany, in the Kwazulu-natal 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 New Germany has risen strongly during the last 6 months. In October, the average price per m² was R 58,62. In November this price barely changed remaining at R 56,35 per m². The price for the following two months in (December, January) had a considerable rise of 149 %. The price per m² has risen 111 % 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 71,5 to R 79,67 during February, and March.
When referring to the price in New Germany (cities & towns), this has risen considerably in the last 6 months. The average price for October is R 8 714. During November the price had a slight fall till R 7 938. During the following two months (December, January) the price has had an average rise from R 8 326 to R 9 366,5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 206 % during the last two months.
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 28 029 they are 80 % more affordable than the average price for New Germany . The properties with the highest average price have 4 bedrooms, Their price is 32 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 10 466.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of R 34 / m², with an average R 70,44 / m² price in New Germany. The properties with the most expensive average prices have 4 bedrooms. They are 52590 % more expensive than the average followed by properties with 1 bedroom with a price at R 93 / m².
The graph displaying the average rent prices displays the property type "Land" as the most expensive one. At an cost of R 28 029 it is 25 % more expensive than the average price in New Germany. "Flat" is seen as the second most expensive property type. The most expensive property type is "House" followed by "Flat". At a price of R 36 926 it is 32 % more expensive than the average price.
According to the average cost per m², the least affordable property would be "Land" at an average price of R 34 412 / m² followed by "Flat" priced at R 36 926 / m². "House" is the most expensive type of property with a R 37 115 / m² value followed by "Flat" with an average price of R 36 926 / m².