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 December, the average price per m² was R 11 624. In January this price pretty much remained the same at a value of R 11 201 per m². The price for the following two months in (February, March) had a considerable increment of 1073 %. The price per m² has had a considerable increase of 210 % 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 66 955,75 to R 140 602,5 during April, and May.
Based upon to the price in Langebaan (cities & towns), this has gone downing the last 6 months. The average price for December is R 3 077 444. During January the price had a slight fall till R 2 756 331. During the following two months (February, March) the average price fell 90 % 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 2 768 403,25 and R 2 713 682 between April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 2 818 301 they are 45 % more affordable than the average price for Langebaan. The properties with the highest average price have 4 bedrooms, Their price is 17 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 471 888.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 9 671 / m², with an average R 10 161 / m² price in Langebaan. The properties with the highest average prices have 1 bedroom. They are 96 % more expensive than the average followed by properties with 2 bedrooms with a price at R 13 328 / m².
The graph displaying the average prices displays the property type "Office" as the most affordable one. At an cost of R 2 818 301 it is 73 % cheaper than the average price in Langebaan. "Land" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of R 2 408 921 it is 5 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Office" at an average cost of R 990 / m² followed by "Land" priced at R 1 036 / m². "Apartment" is the most costly type of property with a R 18 662 / m² cost followed by "Townhouse" with an average price of R 15 501 / m².