The prices in real estate in Sandton, in the Gauteng 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 Sandton has remained the same in the last 6 months. In October, the average price per m² was R 13 473. In November this price pretty much remained the same at a value of R 14 002 per m². In the following two months the price per m² has barely changed, going from R 13 737,5 to R 13 775,5 per m². The price per m² has decreased 90 % 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 13 756,5 to R 12 355 during February, and March.
Based upon to the price in Sandton (cities & towns), this has fallen considerably in the last 6 months. The average price for October is R 3 126 667. During November the price had a slight fall till R 2 865 131. During the following two months (December, January) the average price fell 88 % 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 2 816 195,75 to R 2 368 286,5, which means a 84 % 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 2 443 036 they are 66 % more affordable than the average price for Sandton. The properties with the highest average price have 4 bedrooms, Their price is 114 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 723 537.
With regard to the average price per m² , those properties with 4 bedrooms are the cheapest ones at a cost of R 8 083 / m², with an average R 10 672 / m² price in Sandton. The properties with the highest average prices have 2 bedrooms. They are 17 % more expensive than the average followed by properties with 1 bedroom with a price at R 12 418 / m².
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of R 2 443 036 it is 44 % cheaper than the average price in Sandton. "Apartment" is seen as the second most affordable property type. The dearest property type is "Office" followed by "Commercial". At a price of R 5 033 333 it is 285 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "Commercial" at an average cost of R 3 747 / m² followed by "House" priced at R 6 937 / m². "Office" is the most costly type of property with a R 8 108 267 / m² cost followed by "Apartment" with an average price of R 13 933 / m².