The rent prices in real estate in Rustenburg, in the North West region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per m² in Rustenburg has fallen during the last 6 months. In October, the average price per m² was R 87,81. In the following month the price per m² fell considerably to R 69,44. In the following two months the price per m² has practically remained the same, going from R 78,62 to R 80,72 per m². The price per m² has fallen 93 % 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 79,67 to R 73,72 during February, and March.
When referring to the price in Rustenburg (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 14 795. In November This price remains at R 15 330. In the following two months the average price has hardly changed with regard to the previous two months from R 15 062,5 to R 15 300,5. 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 15 181,5 to R 13 471,5 in February and March.
The graph displaying the average rent price for bedrooms illustrates that those properties with 3 bedrooms are the most affordable ones. At a price of R 12 839 they are 44 % more affordable than the average price for Rustenburg . The properties with the highest average price have 4 bedrooms, Their price is 50 % more expensive than the average. After that we have properties with 1 bedroom priced at R 14 889.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 39 / m², with an average R 74,39 / m² price in Rustenburg. The properties with the most expensive average prices have 1 bedroom. They are 19401 % more expensive than the average followed by properties with 2 bedrooms with a price at R 83 / m².
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of R 12 839 it is 55 % more affordable than the average price in Rustenburg. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "House". At a price of R 18 950 it is 94 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Commercial" at an average price of R 33 / m² followed by "Townhouse" priced at R 78 / m². "Apartment" is the most expensive type of property with a R 24 919 / m² value followed by "Farm" with an average price of R 15 048 / m².