The rent prices in real estate in Umhlanga, in the Kwazulu-natal 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 Umhlanga has fallen during the last 6 months. In October, the average price per m² was R 184,5. In November this price barely changed remaining at R 184,21 per m². In the following two months the price per m² has practically remained the same, going from R 184,35 to R 189,47 per m². The price per m² has had a considerable fall of 74 % 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 186,91 to R 137,65 during February, and March.
When referring to the price in Umhlanga (cities & towns), this has risen in the last 6 months. The rent price in October is R 19 804, rising in November till R 22 025. During the following two months (December, January) the price has had an average rise from R 20 914,5 to R 23 858,5. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of R 22 386,5 and R 21 853,5 between 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 21 725 they are 46 % more affordable than the average price for Umhlanga . The properties with the highest average price have 4 bedrooms, Their price is 100 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 25 150.
With regard to the average price per m², those properties with 3 bedrooms are the most expensive ones at a cost of R 102,24 / m², with an average R 101,89 / m² price in Umhlanga. The properties with the most expensive average prices have 1 bedroom. They are 62 % more expensive than the average followed by properties with 2 bedrooms with a price at R 127,44 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of R 21 725 it is 7 % more affordable than the average price in Umhlanga. "Flat" is seen as the second most affordable property type. The most expensive property type is "Office" followed by "Commercial". At a price of R 60 551 it is 351 % more expensive than the average price.
According to the average cost per m², the least affordable property would be "Apartment" at an average price of R 104,32 / m² followed by "Flat" priced at R 125 / m². "Commercial" is the most expensive type of property with a R 193 / m² value followed by "House" with an average price of R 170,45 / m².