The rent prices in real estate in Pietermaritzburg, 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 Pietermaritzburg has risen strongly during the last 6 months. In October, the average price per m² was R 79,97. In the following month the price per m² rose to R 91,81. The price for the following two months in (December, January) had a considerable rise of 116 %. The price per m² has hardly changed in the last two months compared to the average price of the previous four months going from an average price of R 92,65 to R 89,91 during February y March
When referring to the price in Pietermaritzburg (cities & towns), there have hardly been any changes in the last 6 months. The rent price in October is R 16 780, rising in November till R 18 516. In the following two months the average price has hardly changed with regard to the previous two months from R 17 648 to R 17 637,5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 91 %, going from R 17 642,75 to R 16 118,5 in February and March.
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 15 336 they are 57 % more affordable than the average price for Pietermaritzburg . The properties with the highest average price have 4 bedrooms, Their price is 2 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 10 667.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 7 / m², with an average R 87,92 / m² price in Pietermaritzburg. The properties with the most expensive average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 2 bedrooms with a price at R 75,48 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of R 15 336 it is 60 % more affordable than the average price in Pietermaritzburg. "Office" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Flat". At a price of R 18 981 it is 92 % more expensive than the average price.
According to the average cost per m², the most affordable property is "House" at an average price of R 28 / m² followed by "Office" priced at R 48 / m². "Commercial" is the most expensive type of property with a R 120 / m² value followed by "Flat" with an average price of R 111 / m².