The prices in real estate in Belabela, in the Limpopo region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Belabela has had a strong decrease during the last 6 months. In October, the average price per m² was R 7 980. In the following month the price per m² decreased considerably to R 6 273. The price for the following two months in (December, January) had a considerable decrease of 74 with regard to the prior two months. The price per m² has had a considerable deflation of 67 % 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 6 205,25 to R 4 188 during February, and March.
Based upon to the price in Belabela (cities & towns), this has gone downing the last 6 months. The average price for October is R 1 810 301. During November the price had a slight fall till R 1 570 472. In the following two months the average price has remained the same with regard to the previous two months from R 1 690 386,5 to R 1 666 347,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 86 %, going from R 1 678 367 to R 1 448 956,5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 384 474 they are 74 % more affordable than the average price for Belabela. The properties with the highest average price have 4 bedrooms, Their price is 87 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 848 567.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 1 979 / m², with an average R 4 092 / m² price in Belabela. The properties with the highest average prices have 2 bedrooms. They are 48 % more expensive than the average followed by properties with 1 bedroom with a price at R 5 692 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 384 474 it is 65 % cheaper than the average price in Belabela. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 721 554 it is 57 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 3 480 / m² followed by "Apartment" priced at R 4 226 / m². "Townhouse" is the most costly type of property with a R 7 631 / m² cost followed by "Flat" with an average price of R 4 737 / m².