The prices in real estate in Malelane, in the Mpumalanga 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 Malelane has had a strong decrease during the last 6 months. In November, the average price per m² was R 4 240. In December this price pretty much remained the same at a value of R 4 127 per m². The price for the following two months in (January, February) had a considerable decrease of 67 with regard to the prior two months. The price per m² has had a considerable deflation of 69 % 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 3 486,25 to R 2 416,5 during March, and April.
Based upon to the price in Malelane (cities & towns), these have remained the same in the last 6 months. In our first sample month during November, the average price is R 2 446 471. In December This price remains at R 2 452 273. During the following two months (January, February) the price has had an average incrementation from R 2 449 372 to R 2 709 473. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 92 %, going from R 2 579 422,5 to R 2 371 597,5 in March and April.