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The real deal on property prices - CT vs. Jhb

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.

By Melissa Cohen

15 Nov 2017

The real deal on property prices - CT vs. Jhb

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.

The table below shows the average property price for each area in 2017:

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.
Although the area is the richest suburb in South Africa, property prices are not bad at all. You could purchase a six bedroom house with an amazing living space for R12,990,000.

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.

Continue reading the full article on CompareGuru.