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Ever wanted to know property price differences between the Mother City and the City of Gold? We take a look at the shocking difference!
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With thousands of Joburgers making their way down to the Cape, 'semigration' is a real thing. This is the only thing keeping property in South Africa alive.
According to financial journalist, Alison Goldberg, South Africa's property market is on a steady decline. Purchasing a home might not even be worth it during such tough economic times.
We have compared property prices in Cape Town and Johannesburg on a two bedroom house and two bedroom apartment.
Take a look what we found...
The Stats
South African bank, FNB, has recently conducted a report on the average house price in 2017. The report was based on the following six major metros:- Tshwane;
- Joburg;
- Ekurhuleni;
- Ethekwini;
- Nelson Mandela Bay;
- Cape Town.
| Demographics | Average House Price |
| Upper Income Areas | R2 892 000 |
| Middle Income Areas | R1 517 000 |
| Low Middle Income Areas | R952 964 |
| Low Income Areas | R503 305 |
Sandton Vs. Camps Bay
Rivonia- Sandton
With the hustle and bustle of the streets, expensive restaurants and the many malls, Sandton is a city on its own.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R870 000 to R2 980 000.
- For a two bedroom apartment, buyers can expect to pay between R900 000 to R2 295 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R8 600 to R18 000/ per month.
- For a two bedroom apartment, tenants can expect to pay between R7 750 to R33 000/ per month.
Camps Bay
This suburb is best known for its white, sandy beaches and 'over the top' monstrosities. Prepare to sit down when you see these prices.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R12 200 000 to R13 450 000.
- For a two bedroom apartment, buyers can expect to pay between R4 600 000 to R15 950 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R27 500 to R85 000/ per month.
- For a two bedroom apartment, tenants can expect to pay between R15 500 to R42 000/ per month.
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Krugersdorp Vs. Bellville
Krugersdorp
These two suburbs can be compared to each other as they host the same lifestyle and atmosphere. These areas could be classified as middle to lower middle income areas.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R420 000 to R946 000.
- For a two bedroom apartment, buyers can expect to pay between R160 000 to R570 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay R11 880/ per month. (only one property available)
- For a two bedroom apartment, tenants can expect to pay between R3 950 to R7 200/ per month.
Bellville
Bellville is a combination of residential and industrial all in one little suburb. Property prices are reasonable but it is far from the city centre.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R450 000 to R2 495 000.
- For a two bedroom apartment, buyers can expect to pay between R480 000 to R1 999 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay R7 800/ per month.
- For a two bedroom apartment, tenants can expect to pay between R5 650 to R8 500/ per month.
Fourways Vs. Claremont
Fourways
This suburban neighbourhood is located just outside the business hub of Johannesburg. This is the fastest developing suburb in the city.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R443 450 to R1 900 000.
- For a two bedroom apartment, buyers can expect to pay between R749 000 to R2 500 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R5 000 to R27 000/ per month.
- For a two bedroom apartment, tenants can expect to pay between R4 500 to R18 000/ per month.
Claremont
Claremont is a growing commercial and residential area that is just 15 minutes away from the city centre. Property prices vary depending on the area.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R1 795 000 to R345 000.
- For a two bedroom apartment, buyers can expect to pay between R1 425 000 to R3 495 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R10 000 to R20 500/ per month.
- For a two bedroom apartment, tenants can expect to pay between R8 500 to R24 000/ per month.
Greenside Vs. Woodstock
Greenside
This suburb is a restaurant hub, with a variety of restaurants all located within metres from each other.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R1 795 000 to R3 450 000.
- For a two bedroom apartment, buyers can expect to pay anything from R3 800 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R13 500 to R25 000/ per month.
- For a two bedroom apartment, tenants can expect to pay between R7 500 to R11 500/ per month.
Woodstock
This suburb is hip and vibrant with a village atmosphere. Woodstock is an arts hub and has quickly been taken over by a younger crowd.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R1 295 000 to R4 490 000.
- For a two bedroom apartment, buyers can expect to pay anything between R1 150 000 to R3 195 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R11 950 to R15 500/ per month.
- For a two bedroom apartment, tenants can expect to pay between R12 000 to R20 000/ per month.
Rosebank Vs. Cape Town CBD
Rosebank
This Johannesburg suburb has become a popular hang out for young professionals. With a variety of shopping malls and popular tourist destinations in the area, this is a great place if you enjoy mingling.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R4 500 000 to R6 500 000.
- For a two bedroom apartment, buyers can expect to pay anything between R1 600 000 to R4 682 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R15 000 to R24 000/ per month.
- For a two bedroom apartment, tenants can expect to pay between R11 000 to R37 500/ per month.
Cape Town CBD
The CBD offers people a wide diversity of cultures. This is the business and creative hub of the city.Average Sale Price
- For a two bedroom house, buyers can expect to pay between R2 299 000 to R3 249 000.
- For a two bedroom apartment, buyers can expect to pay anything between R1 395 000 to R12 500 000.
Average Rental Price
- For a two bedroom house, tenants can expect to pay between R8 500 to R28 000/ per month.
- For a two bedroom apartment, tenants can expect to pay between R8 000 to R80 000/ per month.
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