The prices in real estate in Nelspruit, in the Mpumalanga 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 Nelspruit has increased strongly during the last 6 months. In April, the average price per m² was R 9 762. In May this price pretty much remained the same at a value of R 9 742 per m². The price for the following two months in (June, July) had a considerable increment of 5536 %. The price per m² has had a considerable deflation of 20 % 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 274 790,75 to R 53 850,5 during August, and September.
Based upon to the price in Nelspruit (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during April, is R 2 378 691. During May the price went through a considerable rise reaching R 2 853 600. During the following two months (June, July) the price has had an average incrementation from R 2 616 145,5 to R 2 962 985,5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 89 %, going from R 2 789 565,5 to R 2 476 506,5 in August and September.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 500 438 they are 70 % more affordable than the average price for Nelspruit. The properties with the highest average price have 4 bedrooms, Their price is 34 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 258 535.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 8 732 / m², with an average R 9 279 / m² price in Nelspruit. The properties with the highest average prices have 1 bedroom. They are 53 % more expensive than the average followed by properties with 2 bedrooms with a price at R 12 040 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 2 500 438 it is 68 % cheaper than the average price in Nelspruit. "Apartment" is seen as the second most affordable property type. The dearest property type is "Farm" followed by "House". At a price of R 3 136 926 it is 99 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Land" at an average cost of R 5 832 / m² followed by "House" priced at R 9 039 / m². "Flat" is the most costly type of property with a R 811 409 / m² cost followed by "Farm" with an average price of R 21 271 / m².