The prices in real estate in Bethlehem, in the Free State 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 Bethlehem has had a strong decrease during the last 6 months. In October, the average price per m² was R 4 477. In November this price pretty much remained the same at a value of R 4 513 per m². The price for the following two months in (December, January) had a considerable decrease of 75 with regard to the prior two months. The price per m² has had a considerable deflation of 82 % 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 3 930 to R 3 233 during February, and March.
Based upon to the price in Bethlehem (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 1 956 417. In November This price remains at R 2 000 544. In the following two months the average price has remained the same with regard to the previous two months from R 1 978 480,5 to R 1 993 926,5. During the last two months the average price has had a strong fall compared to the previous four going from R 1 986 203,5 to R 1 678 889, which means a 85 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 680 000 they are 27 % more affordable than the average price for Bethlehem. The properties with the highest average price have 1 bedroom, Their price is 12 % more costly than the average. After that we have properties with 4 bedrooms priced at R 1 724 621.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 5 835 / m², with an average R 3 364 / m² price in Bethlehem. The properties with the highest average prices have 1 bedroom. They are 54830 % more expensive than the average followed by properties with 3 bedrooms with a price at R 8 908 / m².
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of R 1 680 000 it is 14 % cheaper than the average price in Bethlehem. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Farm". At a price of R 8 319 345 it is 14586 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "Townhouse" at an average cost of R 11 198 / m² followed by "House" priced at R 1 113 961 / m². "Commercial" is the most costly type of property with a R 245 089 289 / m² cost followed by "Farm" with an average price of R 8 319 345 / m².