The rent prices in real estate in Paternoster, 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 Paternoster has had a strong fall during the last 6 months. In October, the average price per m² was R 1 993. In November this price barely changed remaining at R 1 993 per m². In the following two months the price per m² has practically remained the same, going from R 1 993 to R 1 991 per m². The price per m² has had a considerable fall of 52 % 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 1 992 to R 1 037,5 during February, and March.
When referring to the price in Paternoster (cities & towns), there have hardly been any changes in the last 6 months. In our first sample month during October, the average price is R 8 606. In November This price remains at R 8 606. In the following two months the average price has hardly changed with regard to the previous two months from R 8 606 to R 8 597. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 90 %, going from R 8 601,5 to R 7 763,5 in February and March.