The prices in real estate in Thabazimbi, in the Limpopo 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 Thabazimbi has had a strong decrease during the last 6 months. In October, the average price per m² was R 4 799. In the following month the price per m² decreased considerably to R 3 092. The price for the following two months in (December, January) had a considerable decrease of 67 with regard to the prior two months. The price per m² has decreased 85 % 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 3 295,75 to R 2 809,5 during February, and March.
Based upon to the price in Thabazimbi (cities & towns), these have remained the same in the last 6 months. The price in October is R 1 421 754, rising in November till R 1 524 447. In the following two months the average price has remained the same with regard to the previous two months from R 1 473 100,5 to R 1 411 351. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from R 1 442 225,75 to R 1 361 720,5 in February and March.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of R 1 393 667 they are 44 % more affordable than the average price for Thabazimbi. The properties with the highest average price have 1 bedroom, Their price is 320 % more costly than the average. After that we have properties with 4 bedrooms priced at R 2 400 565.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of R 1 694 / m², with an average R 3 264 / m² price in Thabazimbi. The properties with the highest average prices have 1 bedroom. They are 179111 % more expensive than the average followed by properties with 4 bedrooms with a price at R 5 055 / m².
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of R 1 393 667 it is 8 % more expensive than the average price in Thabazimbi. "Farm" is seen as the second dearest property type. The dearest property type is "Apartment" followed by "Farm". At a price of R 11 829 286 it is 1420 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 571 760 / m² followed by "Apartment" priced at R 7 936 773 / m². "Farm" is the most costly type of property with a R 11 829 286 / m² cost followed by "Apartment" with an average price of R 7 936 773 / m².