House prices have been relatively stable in South Africa, with homeownership levels at around 60% of the population. The average national price for an entry-level home (80–140 sqm) is around ZAR 937,000, with an average medium-size house currently costing around ZAR 1,255,000.
Average Price Of Homes In South Africa
How much do you need to buy a house in South Africa?
In most cases, buying a home will require you to put down a deposit that amounts to between 10% and 20% of the home price. The remainder will then be covered by the lender once you’ve successfully applied for a home loan.
How much should you spend on a house in South Africa?
A high-end house in a good price range should cost approximately R8 000-R13 000 square meters. The cost of having a home with a standard square meter ranges from R5,000 to R6,000. The price per square meter of a high-quality home is around R20 000, with the costs higher than that.
How much is a small house in South Africa?
Seeff said that the cost of a tiny home depends on its size and amenities. It said that the average price for a small home is likely to set you back around R270,000 to R850,000.
Why are houses expensive in South Africa?
In many areas of South Africa and Cape Town, in particular, the supply and demand for new housing developments do not match, he notes.
In Cape Town, you find a lot of people in the lower end of the market are struggling to find new developments and so demand is greater than the supply of new property.
What house can I afford South Africa?
What house you can afford to buy with your monthly salary in SA
| GROSS MONTHLY SALARY | HOME VALUE* |
|---|---|
| R49 900 | R1 500 000 |
| R41 600 | R1 250 000 |
| R33 300 | R1 000 000 |
| R23 300 | R700 000 |