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 October, the average price per m² was R 74,69. In the following month the price per m² rose considerably to R 87,5. The price for the following two months in (December, January) had a considerable rise of 153 %. The price per m² has had a considerable rise of 134 % 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 102,45 to R 137,09 during February, and March.
When referring to the price in Parow (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 55 733. During November the price had a slight fall till R 51 623. During the following two months (December, January) the average price had a considerable fall of 40 % 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 37 613 to R 23 037,5, which means a 61 % 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 23 407 they are 77 % more affordable than the average price for Parow . The properties with the highest average price have 4 bedrooms, Their price is 12 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 16 605.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 59 / m², with an average R 138,28 / m² price in Parow. The properties with the most expensive average prices have 2 bedrooms. They are 41 % more expensive than the average followed by properties with 1 bedroom with a price at R 133,12 / m².
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of R 23 407 it is 72 % more affordable than the average price in Parow. "Flat" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "Commercial". At a price of R 43 477 it is 126 % 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 8 / m² followed by "Commercial" priced at R 74 / m². "House" is the most expensive type of property with a R 40 630 / m² value followed by "Apartment" with an average price of R 3 188 / m².