The prices in real estate in Nelson Mandela Bay, in the Eastern Cape region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per m² in Nelson Mandela Bay has remained the same in the last 6 months. In October, the average price per m² was R 5 022. In the following month the price per m² decreased to R 4 275. The price for the following two months in (December, January) had a considerable increment of 137 %. The price per m² has had a considerable deflation of 66 % 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 5 506,5 to R 3 616 during February, and March.
Based upon to the price in Nelson Mandela Bay (cities & towns), this has fallen considerably in the last 6 months. In our first sample month during October, the average price is R 1 026 067. In November This price remains at R 999 829. During the following two months (December, January) the average price had a considerable reduction of 79 % 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 907 543,5 to R 750 140, which means a 83 % 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 852 842 they are 57 % more affordable than the average price for Nelson Mandela Bay. The properties with the highest average price have 4 bedrooms, Their price is 87 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 002 970.
With regard to the average price per m² , those properties with 3 bedrooms are the most costly ones at a cost of R 4 292 / m², with an average R 3 654 / m² price in Nelson Mandela Bay. The properties with the highest average prices have 4 bedrooms. They are 1093 % more expensive than the average followed by properties with 1 bedroom with a price at R 7 213 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 852 842 it is 29 % cheaper than the average price in Nelson Mandela Bay. "Commercial Property" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial Property". At a price of R 689 172 it is 34 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Commercial Property" at an average cost of R 1 944 / m² followed by "House" priced at R 4 158 / m². "Apartment" is the most costly type of property with a R 7 666 / m² cost followed by "House" with an average price of R 4 158 / m².