The prices in real estate in New Germany, in the Kwazulu-natal 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 New Germany has fallen in the last 6 months. In October, the average price per m² was R 6 784. In the following month the price per m² decreased considerably to R 5 506. In the following two months the price per m² has barely changed, going from R 6 145 to R 5 876 per m². The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 6 010,5 to R 6 137 during February y March
Based upon to the price in New Germany (cities & towns), this has gone up in the last 6 months. The price in October is R 991 490, rising in November till R 1 070 948. During the following two months (December, January) the price has had an average incrementation from R 1 031 219 to R 1 113 391,5. 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 1 072 305,25 and R 1 035 357,5 between February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 1 053 268 they are 42 % more affordable than the average price for New Germany. The properties with the highest average price have 4 bedrooms, Their price is 77 % more costly than the average. After that we have properties with 3 bedrooms priced at R 1 245 412.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 1 481 / m², with an average R 5 808 / m² price in New Germany. The properties with the highest average prices have 1 bedroom. They are 104 % more expensive than the average followed by properties with 2 bedrooms with a price at R 6 481 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 1 053 268 it is 35 % cheaper than the average price in New Germany. "Apartment" is seen as the second most affordable property type. The dearest property type is "House" followed by "Townhouse". At a price of R 1 027 778 it is 34 % 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 2 124 / m² followed by "Apartment" priced at R 7 018 / m². "Land" is the most costly type of property with a R 981 008 / m² cost followed by "Flat" with an average price of R 12 166 / m².