The rent prices in real estate in Phalaborwa, in the Limpopo 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 Phalaborwa has had a strong fall during the last 6 months. In October, the average price per m² was R 9 713. In the following month the price per m² fell considerably to R 2 020. The price for the following two months in (December, January) had a considerable fall of 54 with regard to the previous two months. The price per m² has had a considerable rise of 149 % 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 4 512,75 to R 6 714,5 during February, and March.
When referring to the price in Phalaborwa (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 526 811. During November the price had a considerable fall till R 29 893. During the following two months (December, January) the average price had a considerable fall of 59 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 159 % during the last two months.
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 321 256 they are 99 % more affordable than the average price for Phalaborwa . The properties with the lowest average price have 1 bedroom, Their price is 98 % more affordable than the average. After that we have properties with 4 bedrooms priced at R 6 723.
With regard to the average price per m², those properties with 2 bedrooms are the most affordable ones at a cost of R 122 / m², with an average R 6 073 / m² price in Phalaborwa. The properties with the most affordable average prices have 1 bedroom. They are 69 % more affordable than the average followed by properties with 2 bedrooms with a price at R 122 / m².
According to average price per property type in Phalaborwa, "" priced at R 6 723 is 98 % lower than the average price (R 321 256) in this city.