The prices in real estate in Franskraalstrand, in the Western Cape 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 Franskraalstrand has had a strong decrease during the last 6 months. In November, the average price per m² was R 14 030. In the following month the price per m² decreased to R 12 153. The price for the following two months in (January, February) decreased 89 % with regard to the prior two months. The price per m² has decreased 94 % 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 12 377 to R 11 659,5 during March, and April.
Based upon to the price in Franskraalstrand (cities & towns), this has gone downing the last 6 months. In our first sample month during November, the average price is R 3 686 667. In December This price remains at R 3 835 000. During the following two months (January, February) the average price fell 90 % 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 3 575 677,25 to R 2 572 930,5, which means a 72 % fall.