Property prices for rent in Eastern Cape region

The price per m² in Eastern Cape has risen considerably in the last 6 months. During October, the average price per m² was R 66,16. The following month (November) the price rose to R 73,79 per m². In the following two months (December, January) the rent price per m² has increased notably to a 120 %. In the last two months, the price per m² has had a significant rise of 153 %. This has been obtained by comparing the price of R 76,92 for the first four months of the sample with regard to the previous 4 months and the price of R 117,54 per m² for the last two months (February, March).

When referring to the price in Eastern Cape(region), this has risen in the last 6 months. October has an average price of R 11 244. During Novemberthe price had a slight fall till R 10 332. The average price for the following two months (December, January) rose from R 10 788 to R 11 849. During the last two months the price has had a considerable rise of 134 % with respect to the previous four months going from R 11 318,5 a R 15 220.

The graph displaying the the average rent price per number of bedrooms shows that those with 1 bedroom are the most affordable ones. They are 74 % cheaper than the average price in Eastern Cape followed by those with 2 with an average price of R 7 129. The most expensive properties have 4 bedrooms. They are 31 % more expensive than the average followed by those properties with 3 bedrooms priced at R 13 330.

Based on the average price per m² those properties with 3 bedrooms are the most affordable ones with a price of R 27,61 / m² being R 114,05 / m² the average for Eastern Cape. The properties with the highest average price are those with 1 bedroom. These are 84 % more expensive than the average followed by those with 2 bedrooms with a price of R 85,3 / m².

The graph displaying the average rent price according to the property type shows "Commercial" as the most affordable one. With an average cost of R 15 389 it is 57 % cheaper than the average in Eastern Cape. This is followed by "Townhouse" with a cost of R 10 067. The most expensive property type is "Land" and is 44 % more costly than the average, followed by "House" with a cost of R 18 603.

Based upon the average cost per m² the most affordable property type is "Townhouse with a an average price of R 40,65 / m², followed by "Commercial" with a price of R 42 / m². "Apartment" with an average price of R 170,63 / m² is the most expensive type of property followed by "House" at a price of R 143,74 / m².