The rent prices in real estate in Soshanguve, in the Gauteng 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 Soshanguve has risen strongly during the last 6 months. In October, the average price per m² was R 69,47. In November this price barely changed remaining at R 70,6 per m². The price for the following two months in (December, January) had a considerable rise of 911 %. The price per m² has risen 111 % 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 353,96 to R 391,43 during February, and March.
When referring to the price in Soshanguve (cities & towns), this has risen considerably in the last 6 months. The average price for October is R 4 425. During November the price had a slight fall till R 4 052. During the following two months (December, January) the average price had a considerable rise of 561 % 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 158 % during the last two months.
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 4 167 they are 53 % more affordable than the average price for Soshanguve . The properties with the highest average price have 4 bedrooms, Their price is 52 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 4 897.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 37 / m², with an average R 64,91 / m² price in Soshanguve. The properties with the most expensive average prices have 2 bedrooms. They are 9 % more expensive than the average followed by properties with 1 bedroom with a price at R 56 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of R 4 167 it is 55 % more affordable than the average price in Soshanguve. "House" is seen as the second most affordable property type. The most expensive property type is "Land" followed by "House". At a price of R 4 499 it is 39 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Land" at an average price of R 1 / m² followed by "Apartment" priced at R 58 / m². "House" is the most affordable type of property with a R 59 / m² value followed by "Apartment" with an average price of R 58 / m².