The rent prices in real estate in Southern Peninsula, in the Western Cape 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 Southern Peninsula has risen strongly during the last 6 months. In November, the average price per m² was R 29,21. In the following month the price per m² rose to R 31. The price for the following two months in (January, February) had a considerable rise of 155 %. The price per m² has had a considerable rise of 129 % 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 38,36 to R 49,44 during March, and April.
When referring to the price in Southern Peninsula (cities & towns), this has risen considerably in the last 6 months. The average price for November is R 20 400. During December the price had a considerable fall till R 17 082. During the following two months (January, February) the average price had a considerable rise of 157 % 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 increased 110 % 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 24 183 they are 71 % more affordable than the average price for Southern Peninsula . The properties with the highest average price have 4 bedrooms, Their price is 23 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 19 738.
With regard to the average price per m², those properties with 4 bedrooms are the most affordable ones at a cost of R 19 / m², with an average R 49,17 / m² price in Southern Peninsula. The properties with the most expensive average prices have 2 bedrooms. They are 71 % more expensive than the average followed by properties with 1 bedroom with a price at R 80 / m².
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of R 24 183 it is 55 % more affordable than the average price in Southern Peninsula. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Apartment" followed by "House". At a price of R 10 989 it is 4 % more expensive than the average price.
According to the average cost per m², the most affordable property is "Apartment" at an average price of R 18 / m² followed by "House" priced at R 87 / m². "House" is the most expensive type of property with a R 87 / m² value followed by "Apartment" with an average price of R 18 / m².