How much it costs to build a home in South Africa
Considering building your next home from scratch instead of buying an existing one? Experts advise you consider what province you live in and the cost of building materials before making your decision.
Interested in building your new home instead of buying one? With the recent increase in residential construction, and building professionals reporting an improvement in business confidence, we look at what it would cost to build a new home in the country.
According to Stats SA’s data for January to July 2018, KwaZulu-Natal is the most expensive province to build a new home in at R9,610 per m2. Gauteng comes in second at R7,870 per m2, while the Western Cape is third at R7,020 mer m2. The cheapest provinces are the North West at R5,060 mer m2, Limpopo at R5,270 per m2 and Mpumalanga at R5,690 per m2.
According to adrian Goslett, Regional Director and CEO of RE/Max Southern Africa, “it is interesting to discover that KwaZulu-Natal is more expensive than the bustling metropoles of Gauteng and the Western Cape where one has come to expect to pay a premium on most living expenses.” With this in mind, experts advise that those looking to build a new property in KwaZulu-Natal instead consider buying a home that they can build onto and renovate.
While Kwazulu-natal as the most expensive province to build property in is surprising, experts reveal that the reason for this could be that if supply of building materials in the province is low, prices can be driven up to make up for the potential loss in profit. Additionally, if materials are imported, they will be more expensive, and therefore drive up the building costs.
If you’re looking to build your new home, consider what province you’re and what the materials will cost you before taking the plunge.
