The prices in real estate in Frankfort, in the Free State region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per m² in Frankfort has increased strongly during the last 6 months. In November, the average price per m² was R 926. In the following month the price per m² increased considerably to R 1 617. In the following two months the price per m² has increased 114 %, going from R 1 271,5 to R 1 450,5 per m². The price per m² has decreased 92 % 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 1 361 to R 1 254 during March, and April.
Based upon to the price in Frankfort (cities & towns), this has gone up in the last 6 months. The average price during our first sample month during November, is R 1 476 667. During December the price went through a considerable rise reaching R 2 192 857. During the following two months (January, February) the average price fell 93 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from R 1 772 139,5 to R 1 250 937,5, which means a 71 % fall.