• We compared properties which are currently in the market for R2 million across South Africa. 
  • That amount will get you a 40m² flat in Cape Town - or a farm with a large double-storey house in Mbombela. 
  • For more stories, go to Business Insider SA.

Last week's rate cut made it slightly cheaper to buy a home - on a home loan of R2 million, your monthly instalment will be around R330 smaller.   

If this was the enticement you needed to get on the property ladder, you'll also find that it's a buyer's market out there. In the past months, only 2% of home-sellers sold their properties for their initial asking price.

But how much bang you'll get for your buck will depend on your location.

We compared properties in various places in South Africa, and found that R2 million could get you a 40m² flat in Cape Town - or a farm with a large double-storey house in Mbombela. 

Here are R2 million properties currently on sale across the country: 

Johannesburg

2-bedroom apartment in Melrose Estate

Property24

You can get a 2-bedroom flat of 98m² in the popular Melrose Estate cluster, with monthly rates of R2,200.

3-bedroom house in Melville

Property24/Leadhome

If you are in the market for something a bit bigger, this home also has a separate laundry and studio, with parking for three vehicles.

Pretoria

3-bedroom house in Brooklyn

Property24/Harcourts

Situated in a cluster complex, the main bedroom is en-suite and all bedrooms are carpeted. It also has an automated double garage with direct access. 

Durban

4-bedroom house in Westridge

Property24/Rawson

Described as a "modernly designed architectural masterpiece", the house has a "sunken kitchen", office and aircons throughout. The erf size is 1,223 hectares. 

Polokwane

4-bedroom house in Ivy Park

Property24/KellerWilliams

The house has three lounges, three garages with three carports, and two outside rooms with a toilet and a shower. The plot of more than 1,000m²  also has a borehole  with safe water. 

Bloemfontein

6-bedroom house in Fichardt Park

Property24/Harcourts

Situated on a 1,064 m² erf, this property could be operated as a guest house. Each of the six rooms has its own kitchenette and en-suite bathroom.

Rustenburg

8-bedroom house in Protea Park

Property24/Properties 4 U
The 1,490 m² plot contains a large house with 3 living areas, 6 bathrooms, a swimming pool and double garages.

Mbombela

Farm with 4-bedroom house

Property24/Aida

Situated on 2.1 hectares, the property is situated close to Mbombela. The farm has citrus trees for personal use and small camps for free-range chickens. 

Kimberley

4-bedroom house in Royldene

Property24/BSR

The 1,397m² property has a heated pool, a garage for 4 vehicles and double carport. 

Cape Town 

1-bedroom apartment in the city centre

Property24/Live Real Estate

R2 million will buy you a 40m² one-bedroom apartment located "extremely high up" inside one of the tallest residential buildings on the Cape Town Foreshore. The apartment comes fully furnished and you will have access to an outdoor swimming pool and gym. 

4-bedroom house in Observatory

Property24/Pam Golding

If you are looking for something slightly bigger, this "starter home" with a single bathroom on a 186m² plot is currently in the market.

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