Building Costs Per Square Metre in Western Cape Province, South Africa

Building Costs Per Square Metre in Western Cape Province, South Africa

The Western Cape province of South Africa has 6 districts if you include the City of Cape Town, and 24 local municipalities. The Western Cape is an ideal region for building a luxury, exclusive or exceptional home due to its coast which provides a picturesque scene and high market value. There are some of the world’s most beautiful villas and mansions in this coastal region. Building an upper class home in the Western Cape tends to be more expensive than building the same home in other regions of South Africa. The only other province with comparable building rates is KZN (KwaZulu Natal), which is also a coastal region. However, we shall look at the average cost of building different types residences, commercial properties and industrial buildings without separating them into quality classes (i.e. architectural and material specifications). If you need the cost of building luxury, middle class, standard and economic houses, visit the AECOM South Africa report.

Average Regional Building Costs Per Square Metre in the Western Cape Province  – Residential Buildings

Buildings reported as completed to larger municipalities at current prices by type of building:

Across all major municipalities in the Western Cape Province, the STATSSA average building cost per square m2 for different types of buildings based on finished projects / completed buildings is as follows:

Regional Building Costs Per Square Metre in the Western Cape Province 2021 COMPLETED PROJECTS

Residential Buildings:

Dwellings < 80m2

The number of newly built single family dwellings smaller than 80m2 in gross floor area was 90 in January and 278 in December of the year 2020 respectively. The first quarter of 2021 registered 127 newly completed residential dwellings of this size, which was an increase of 41.1%.

The national aggregate gross floor area of these dwellings was 4,424m2 in January and 13,180m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 5,394 square metres, which was an increase of 21.9%.

The total estimated valuation of completed projects was R24,953,000 in January and R77,969,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R31,275,000 which was an increase of 25.3%.

From this data, the building cost per m2 for completed dwellings < 80m2 is:

As at December 2020 – R5,916 per m2

As at March 2021 – R5,798 per m2

Dwellings > 80m2

The number of newly built single family dwellings greater than 80m2 in gross floor area was 154 in January and 203 in December of the year 2020 respectively. The first quarter of 2021 registered 110 newly completed residential dwellings of this size, which was a decrease of -28.6%.

The national aggregate gross floor area of these dwellings was 44,827m2 in January and 57,934m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 26,356 square metres, which was a decrease of -41.2%.

The total estimated valuation of completed projects was R308,989,000 in January and R386,481,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R177,820,000 which was a decrease of -42.5%.

From this data, the building cost per m2 for completed dwellings > 80m2 is:

As at December 2020 – R6,671 per m2

As at March 2021 – R6,745 per m2

Flats and Townhouses

The number of newly built flats and townhouses in the Western Cape was 141 in January and 878 in December of the year 2020 respectively. The first quarter of 2021 registered 1033 newly completed residential dwellings of this size, which was an increase of 632.6%.

The national aggregate gross floor area of these dwellings was 24,782m2 in January and 78,245m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 62,875 square metres, which was an increase of 153.7%.

The total estimated valuation of completed projects was R193,315,000 in January and R624,500,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R473,356,000 which was an increase of 144.9%.

From this data, the building cost per m2 for newly completed flats and townhouses in the Western Cape is:

As at December 2020 – R7,981 per m2

As at March 2021 – R7,529 per m2

Other Residential Buildings

The national aggregate gross floor area of these dwellings was [not given] in January and 225m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 309 square metres, which was an increase of [not given]%.

The total estimated valuation of completed projects was [not given] in January and R1,602,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R2,086,000 which was an increase of [not given]%.

From this data, the building cost per m2 for these other types of residential buildings in the Western Cape is:

As at December 2020 – R7,120 per m2

As at March 2021 – R6,751 per m2

Office and Banking Space

The national aggregate gross floor area of newly built office and banking space was 2,091m2 in January and 4,625m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 5,908 square metres, which was an increase of 182.5%.

The total estimated valuation of completed projects was R18,034,000 in January and R40,555,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R44,516,000 which was an increase of 146.8%.

From this data, the building cost per m2 for newly completed Office and Banking Space in the Western Cape is:

As at December 2020 – R8,769 per m2

As at March 2021 – R7,535 per m2

Shopping Space

The national aggregate gross floor area of newly built shopping space was 5,944m2 in January and 1,355m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 2,968 square metres, which was a decrease of -50.1%.

The total estimated valuation of completed projects was R43,665,000 in January and R10,537,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R19,400,000 which was a decrease of -55.6%.

From this data, the building cost per m2 for newly completed Shopping Space in the Western Cape is:

As at December 2020 – R7,776 per m2

As at March 2021 – R6,536 per m2

Industrial and Warehouse Space

The national aggregate gross floor area of newly built industrial and warehouse space was 15,985m2 in January and 17,570m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of [not given] square metres, which was a decrease of -100%.

The total estimated valuation of completed projects was R109,432,000 in January and R122,826,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of [not given] which was a decrease of -100%.

From this data, the building cost per m2 for newly completed Industrial and Warehouse Space in the Western Cape is:

As at December 2020 – R6,991 per m2

As at January 2020 – R6,846 per m2

As at March 2021 – [not given] per m2

Other Non-Residential Buildings

The national aggregate gross floor area of newly built non-residential buildings classed as Other (See Notes*) was 15,927m2 in January and 4,130m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 4,298 square metres, which was a decrease of -73%.

The total estimated valuation of completed projects was R112,035,000 in January and R27,745,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R24,828,000 which was a decrease of -77.8%.

From this data, the building cost per m2 for these other types of non-residential buildings in the Western Cape is:

As at December 2020 – R6,718 per m2

As at January 2020 – R7,034 per m2

As at March 2021 – R5,777 per m2

Dwellings/Houses (Additions & Alterations)

The national aggregate gross floor area of newly completed alterations and additions for dwellings/houses in the Western Cape  was 40,127m2 in January and 25,847m2 in December of the year 2020 respectively. The first quarter of 2021 registered a total gross floor of 27,523 square metres, which was a decrease of -31.4%.

The total estimated valuation of completed projects was R284,623,000 in January and R185,054,000 in December of the year 2020 respectively. The first quarter of 2021 registered a total valuation of R181,792,000 which was a decrease of -36.1%.

From this data, the building cost per m2 for newly completed  Additions & Alterations (Dwellings/Houses) in the Western Cape is:

As at December 2020 – R7160 per m2

As at March 2021 – R6,605 per m2

Download the STATSSA 2021 Report

NOTES:

**(%) The percentage change between cumulative figures for 2020 and 2021.

**Other Residential Buildings includes hotels, hostels, boarding house and other tourism accommodation.

**Other Non-Residential Space includes educational, recreational, medical and religious buildings.