The prices in real estate in Krugersdorp, in the Gauteng 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 Krugersdorp has had a strong decrease during the last 6 months. In October, the average price per m² was R 9 654. In the following month the price per m² decreased to R 8 828. In the following two months the price per m² has barely changed, going from R 9 241 to R 9 197 per m². The price per m² has had a considerable deflation of 72 % 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 9 219 to R 6 599,5 during February, and March.
Based upon to the price in Krugersdorp (cities & towns), these have remained the same in the last 6 months. In our first sample month during October, the average price is R 1 969 669. In November This price remains at R 1 995 938. During the following two months (December, January) the price has had an average incrementation from R 1 982 803,5 to R 2 208 914. During the last two months the average price has had a strong fall compared to the previous four going from R 2 095 858,75 to R 1 662 642, which means a 79 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 435 375 they are 70 % more affordable than the average price for Krugersdorp. The properties with the highest average price have 4 bedrooms, Their price is 104 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 435 304.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 4 246 / m², with an average R 4 681 / m² price in Krugersdorp. The properties with the highest average prices have 2 bedrooms. They are 53 % more expensive than the average followed by properties with 1 bedroom with a price at R 5 621 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 435 375 it is 66 % cheaper than the average price in Krugersdorp. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 2 173 975 it is 242 % 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 3 631 / m² followed by "Apartment" priced at R 4 954 / m². "Flat" is the most costly type of property with a R 309 683 / m² cost followed by "Commercial" with an average price of R 35 813 / m².