The rent prices in real estate in Vereeniging, in the Gauteng 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 Vereeniging has had a strong fall during the last 6 months. In October, the average price per m² was R 48,05. In the following month the price per m² fell considerably to R 27,56. The price for the following two months in (December, January) had a considerable fall of 85 with regard to the previous two months. The price per m² has had a considerable rise of 150 % 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 34,9 to R 52,51 during February, and March.
When referring to the price in Vereeniging (cities & towns), this has risen considerably in the last 6 months. The average price during our first sample month during October, is R 8 745. During November the price went through a considerable rise reaching R 12 246. During the following two months (December, January) the price has had an average rise from R 10 495,5 to R 11 587. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 88 %, going from R 11 041,25 to R 9 732,5 in 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 10 174 they are 63 % more affordable than the average price for Vereeniging . The properties with the highest average price have 4 bedrooms, Their price is 7 % more expensive than the average. After that we have properties with 3 bedrooms priced at R 8 182.
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 59,23 / m² price in Vereeniging. The properties with the most affordable average prices have 2 bedrooms. They are 7 % more affordable than the average followed by properties with 1 bedroom with a price at R 53 / m².
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of R 10 174 it is 47 % more affordable than the average price in Vereeniging. "Flat" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "House". At a price of R 8 055 it is 0 % 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 9 / m² followed by "Flat" priced at R 32 / m². "Townhouse" is the most expensive type of property with a R 91 / m² value followed by "Apartment" with an average price of R 72 / m².