The prices in real estate in Nelspruit, in the Mpumalanga region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Nelspruit has fallen in the last 6 months. In October, the average price per m² was R 10 859. In November this price pretty much remained the same at a value of R 10 511 per m². In the following two months the price per m² has increased 106 %, going from R 10 685 to R 11 369 per m². The price per m² has had a considerable deflation of 76 % 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 11 027 to R 8 365 during February, and March.
Based upon to the price in Nelspruit (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 2 904 375. During November the price had a considerable reduction till R 2 275 930. During the following two months (December, January) the average price fell 93 % 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 2 501 900,5 to R 2 026 224,5, which means a 81 % 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 1 731 293 they are 62 % more affordable than the average price for Nelspruit. The properties with the highest average price have 4 bedrooms, Their price is 83 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 873 944.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 4 407 / m², with an average R 5 862 / m² price in Nelspruit. The properties with the highest average prices have 1 bedroom. They are 36 % more expensive than the average followed by properties with 2 bedrooms with a price at R 7 471 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 1 731 293 it is 50 % cheaper than the average price in Nelspruit. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Farm". At a price of R 3 195 399 it is 437 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House" at an average cost of R 4 660 / m² followed by "Townhouse" priced at R 6 648 / m². "Farm" is the most costly type of property with a R 18 541 / m² cost followed by "Commercial" with an average price of R 9 924 / m².