Property Prices in Durban, South Africa

Index Info
Price to Income Ratio: 3.32
Mortgage as Percentage of Income: 34.43%
Loan Affordability Index: 2.90
Price to Rent Ratio - City Centre: 8.25
Price to Rent Ratio - Outside of Centre: 10.62
Gross Rental Yield (City Centre): 12.13%
Gross Rental Yield (Outside of Centre): 9.42%
Rent Per Month
Edit Range
Apartment (1 bedroom) in City Centre 6,285.71 R 4,500.00-8,500.00
Apartment (1 bedroom) Outside of Centre 5,450.00 R 4,000.00-7,000.00
Apartment (3 bedrooms) in City Centre 11,366.67 R 8,500.00-20,000.00
Apartment (3 bedrooms) Outside of Centre 11,291.67 R 9,000.00-16,000.00
Buy Apartment Price
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Price per Square Feet to Buy Apartment in City Centre 1,052.89 R 743.22-1,393.53
Price per Square Feet to Buy Apartment Outside of Centre 1,252.58 R 836.12-1,672.24
Salaries And Financing
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Average Monthly Net Salary (After Tax) 18,695.54 R
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 8.45 7.00-12.00

These data are based on 141 entries in the past 18 months from 22 different contributors.
Last update: August 2022

Sources and References
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1 Comments so far
Nico Le Roux on Jan 06, 2019:
Please help
Using your data for Durban South Africa

Price to Income Ratio

Median Apartment Price per Square Meter to Buy Apartment R 10,133.82
Fmilial disposable income R 15,123.92

My formula works out 58.9064541

public double calculateMedianHousePriceOutsideOfCentre() {
return getBuyPricePerSquareMeterOutsideOfCentre() * 90;
}

public double calculateMedianHousePriceCityCentre() {
return getBuyPricePerSquareMeterCityCentre() * 90;
}

public double calculateMedianHousePrice() {
return (calculateMedianHousePriceCityCentre() + calculateMedianHousePriceOutsideOfCentre()) / 2;
}

public double calculateHousePriceToIncomeRatio() {
return calculateMedianHousePrice() / calculateMedianFamilyDisposableIncomeYearly();
}

Nico Le Roux
Krygsman1@gmail.com