The rent prices in real estate in Riebeeck Valley, 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 Riebeeck Valley has had a strong fall during the last 6 months. In October, the average price per m² was R 5 579. In November this price barely changed remaining at R 5 579 per m². The price for the following two months in (December, January) had a considerable fall of 1 with regard to the previous two months. The price per m² has had a considerable rise of 136 % 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 2 819,5 to R 3 826 during February, and March.
When referring to the price in Riebeeck Valley (cities & towns), this has risen in the last 6 months. In our first sample month during October, the average price is R 6 909. In November This price remains at R 6 909. During the following two months (December, January) the average price had a considerable rise of 126 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 89 %, going from R 7 795,5 to R 6 957,5 in February and March.