Simon’s Town Real Estate News

Property Building Cost Average at R4 883.91

July 19, 2007 – 11:07 am | by Johan

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According to John Loots, a property strategist at FNB, contractors may suffer the consequences of the rising interest rates. But he adds that the 2007  first quarter slow down may be short lived.

If we exclude low cost housing the average building cost for the first quarter 2007 is at R4 883.91 m2 and less than the R5104.12 (last quarter 2006). This is not really any different from using a base of R5000 m2.

Simon’s Town properties sell on average for R10 000 per m2. Given a R1.2 million plot and a 200 meter square property we get to a R2.2 million home. This is a little more than what the average property is selling for in Simon’s Town.

By the way: The R5000 per m2 is a lot when you compare it to the R2000 per m2 recorded in 1998 before the property boom.

Regards

Johan Horak

Tell: 082 870 2004  or 021 786 4028

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Tags: Building cost, Inflation, Trend

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Tags: Building cost, Inflation, Trend