The prices in real estate in Paarl, in the Western Cape region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per m² in Paarl has increased during the last 6 months. In October, the average price per m² was R 20 551. In the following month the price per m² increased to R 21 716. In the following two months the price per m² has increased 109 %, going from R 21 133,5 to R 23 024 per m². The price per m² has decreased 94 % 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 22 078,75 to R 20 847,5 during February, and March.
Based upon to the price in Paarl (cities & towns), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is R 4 465 922. During November the price went through a considerable rise reaching R 5 302 594. During the following two months (December, January) the average price had a considerable increase of 123 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 130 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 6 778 300 they are 72 % more affordable than the average price for Paarl. The properties with the highest average price have 4 bedrooms, Their price is 59 % more costly than the average. After that we have properties with 3 bedrooms priced at R 5 164 792.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 15 206 / m², with an average R 17 300 / m² price in Paarl. The properties with the highest average prices have 1 bedroom. They are 74 % more expensive than the average followed by properties with 2 bedrooms with a price at R 21 665 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 6 778 300 it is 69 % cheaper than the average price in Paarl. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "House". At a price of R 8 806 519 it is 168 % 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 15 424 / m² followed by "Apartment" priced at R 29 212 / m². "Commercial" is the most costly type of property with a R 17 513 457 / m² cost followed by "Townhouse" with an average price of R 8 197 251 / m².