The prices in real estate in Simons Town, in the Western Cape region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Simons Town has had a strong decrease during the last 6 months. In October, the average price per m² was R 22 556. In the following month the price per m² decreased to R 20 068. The price for the following two months in (December, January) had a considerable decrease of 38 with regard to the prior two months. The price per m² has had a considerable deflation of 0 % 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 14 693,75 to during February, and March.
Based upon to the price in Simons Town (cities & towns), this has fallen considerably in the last 6 months. The average price during our first sample month during October, is R 4 698 034. During November the price went through a considerable rise reaching R 5 707 143. During the following two months (December, January) the average price had a considerable reduction of 69 % 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 4 383 794 to , which means a 0 % fall.