Building Costs in South Africa 2024 – STATSSA End-of-Year Release P5041.1 October 2023

Newly Built House in Gauteng Selcourt Springs R695250-R1035250

Newly Built House 2 and 3 Bedroom Units in Gauteng Selcourt Springs – Price R695,250 to R1,035,250 – Gross Floor Area ranging from 40m2 to 80m2 – Developed by ZA Prop Johannesburg South

Building Costs in South Africa 2023-2024 – STATSSA End-of-Year Statistical Release P5041.1 October 2023

The building costs below should give you an indication of how much it will cost to build a house in 2024. The figures are obtained from the end of year statistics released by STATSSA (January to October 2023). The figures should be used as a rough estimate for preliminary planning rather than accurate cost projection for the year 2024.

Value of Building Plans Passed by Larger Municipalities at Current Prices – January to October 2023

The total value of building plans approved for residential buildings in 2023 was R43,002,561,000, an 18.4% decrease from the previous year. From this total, R28,135,048,000 was approved for dwelling houses, R14,225,842,000 was approved for flats and townhouses, and 641,671,000 was approved for other types of residential buildings. Non-residential buildings amounted to R18,277,248,000 and a total of R25,154,594,000 was approved for additions and alterations.

Value of Buildings Reported as Completed by Larger Municipalities at Current Prices – January to October 2023

The total value of building plans approved for residential buildings in 2023 was R28,540,363,000, a 4.3% decrease from the previous year. From this total, R18,479,642,000 was approved for dwelling houses, R9,771,862,000 was approved for flats and townhouses, and 288,859,000 was approved for other types of residential buildings. Non-residential buildings amounted to R11,168,600,000 and a total of R7,716,524,000 was approved for additions and alterations.

Building Costs Per Square Metre – Value of Building Plans Passed by Larger Municipalities at Current Prices – January to October 2023

Dwelling-houses below 80m2 (gross floor area – GFA)

The total number of building plans approved for dwelling-houses below 80m2 (gross floor area – GFA) in 2023 was 6563, a 28.4% decrease from the previous year. In the same period, 322,617m2 of GFA was approved for dwelling houses with a total valuation of R2,310,990,000. This amounts to R7,163 per m2.

Dwelling-houses greater than or equal to 80m2 (gross floor area – GFA)

The total number of building plans approved for dwelling-houses greater than or equal 80m2 (gross floor area – GFA) in 2023 was 10465, a 23.7% decrease from the previous year. In the same period, 3,109,587m2 of GFA was approved for dwelling houses with a total valuation of R25,824,058,000. This amounts to R8,305 per m2.

Flats and townhouses

The total number of building plans approved for flats and townhouses in 2023 was 15011, a 25.6% decrease from the previous year. In the same period, 1,510,861m2 of GFA was approved for dwellings with a total valuation of R14,225,842,000. This amounts to R9,416 per m2.

Other residential buildings

The total gross floor area of building plans approved for other types of residential buildings in 2023 was 81,672m2, a 35.5% decrease from the previous year. In the same period, a total valuation of R641,671,000 was approved for these type of projects. This amounts to R7,857 per m2.

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