The rent prices in real estate in Parow, 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 Parow has risen strongly during the last 6 months. In November, the average price per m² was R 87,5. In the following month the price per m² rose considerably to R 114,82. The price for the following two months in (January, February) had a considerable rise of 133 %. The price per m² has risen 109 % 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 117,75 to R 128,15 during March, and April.
When referring to the price in Parow (cities & towns), this has fallen considerably in the last 6 months. The average price for November is R 51 623. During December the price had a considerable fall till R 22 188. During the following two months (January, February) the average price had a considerable fall of 59 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from R 29 346,75 to R 22 966, which means a 78 % fall.
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 22 525 they are 70 % more affordable than the average price for Parow . The properties with the lowest average price have 4 bedrooms, Their price is 31 % more affordable than the average. After that we have properties with 3 bedrooms priced at R 15 140.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 61 / m², with an average R 118,03 / m² price in Parow. The properties with the most expensive average prices have 1 bedroom. They are 14 % more expensive than the average followed by properties with 2 bedrooms with a price at R 117 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of R 22 525 it is 72 % more affordable than the average price in Parow. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "House". At a price of R 14 962 it is 93 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Townhouse" at an average price of R 7 / m² followed by "Commercial" priced at R 73 / m². "Apartment" is the most expensive type of property with a R 124 / m² value followed by "Flat" with an average price of R 111 / m².