The prices in real estate in Empangeni, in the Kwazulu-natal region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Empangeni has fallen in the last 6 months. In October, the average price per m² was R 3 358. In the following month the price per m² increased to R 3 772. The price for the following two months in (December, January) had a considerable decrease of 82 with regard to the prior two months. The price per m² has had a considerable deflation of 79 % 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 3 235,75 to R 2 571 during February, and March.
Based upon to the price in Empangeni (cities & towns), this has gone up considerably in the last 6 months. The price in October is R 1 229 763, rising in November till R 1 401 700. During the following two months (December, January) the price has had an average incrementation from R 1 315 731,5 to R 1 412 625,5. Based on an analysis of the first four prices and the last two months the average price has gone up 109 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 440 948 they are 69 % more affordable than the average price for Empangeni. The properties with the highest average price have 4 bedrooms, Their price is 27 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 383 167.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 1 751 / m², with an average R 2 425 / m² price in Empangeni. The properties with the highest average prices have 1 bedroom. They are 186 % more expensive than the average followed by properties with 2 bedrooms with a price at R 5 246 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 440 948 it is 63 % cheaper than the average price in Empangeni. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Townhouse". At a price of R 1 759 302 it is 149 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Flat" at an average cost of R 65 / m² followed by "House" priced at R 1 817 / m². "Apartment" is the most costly type of property with a R 7 598 / m² cost followed by "Townhouse" with an average price of R 7 499 / m².