The prices in real estate in Langebaan, in the Western Cape 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 Langebaan has increased strongly during the last 6 months. In January, the average price per m² was R 239 878. In the following month the price per m² increased considerably to R 411 536. The price for the following two months in (March, April) had a considerable increment of 148 %. The price per m² has had a considerable deflation of 49 % 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 404 130 to R 198 130,5 during May, and June.
Based upon to the price in Langebaan (cities & towns), these have remained the same in the last 6 months. In our first sample month during January, the average price is R 2 927 075. In February This price remains at R 2 908 594. During the following two months (March, April) the average price fell 95 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of R 2 838 353,5 and R 2 858 669 between May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 2 753 650 they are 36 % more affordable than the average price for Langebaan. The properties with the highest average price have 4 bedrooms, Their price is 47 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 723 275.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 12 075 / m², with an average R 188 154 / m² price in Langebaan. The properties with the highest average prices have 1 bedroom. They are 1117 % more expensive than the average followed by properties with 2 bedrooms with a price at R 17 061 / m².
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of R 2 753 650 it is 59 % cheaper than the average price in Langebaan. "Flat" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "House". At a price of R 2 947 175 it is 69 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Townhouse" at an average cost of R 15 710 / m² followed by "Apartment" priced at R 22 141 / m². "Farm" is the most costly type of property with a R 2 551 547 / m² cost followed by "Land" with an average price of R 1 117 604 / m².