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Cost Per m² Formula:
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Cost per square meter is a metric used in South Africa to compare property values, construction costs, and rental prices on a standardized basis. It helps evaluate the relative expense of different properties or projects.
The calculator uses the simple formula:
Where:
Explanation: This calculation standardizes costs regardless of property size, allowing for fair comparisons between different properties or projects.
Details: Calculating cost per square meter is essential for property valuation, budgeting construction projects, comparing rental rates, and making informed real estate investment decisions in South Africa.
Tips: Enter the total cost in ZAR and the area in square meters. Both values must be positive numbers. The calculator will automatically compute the cost per square meter.
Q1: What is a good cost per m² for houses in South Africa?
A: This varies by location and quality, but typically ranges from ZAR 8,000/m² for basic construction to ZAR 25,000/m² for high-end finishes in major cities.
Q2: How does cost per m² differ by region in South Africa?
A: Costs are generally higher in Cape Town and Johannesburg compared to smaller towns. Coastal areas may have additional construction costs.
Q3: Should I include land cost in the calculation?
A: For construction projects, typically only building costs are used. For property valuation, include both land and building costs.
Q4: How accurate is cost per m² for comparing properties?
A: It's a useful starting point but doesn't account for layout efficiency, special features, or location premiums within neighborhoods.
Q5: What's the average cost per m² for office space in SA?
A: Office space typically ranges from ZAR 12,000 to ZAR 35,000 per m² depending on location and quality of finishes.