What to expect when renting property around SA
Considering the current economic conditions, you may be wondering whether you should look at property for sale in Roodepoort, or rather find a rental. If the latter option appeals to you, we have taken a look at the average rental prices across SA.
In the current economic climate, it may seem to be more beneficial to enter the rental market rather than by property for sale in Roodepoort.
The country is feeling the crunch after moving into a technical recession, along with a number of other factors such as rising fuel costs and other living expenses. In the rental market, this means that landlords are restricted when it comes to increases unless they are willing to sit with an empty investment.
A lot of people also simply prefer renting because of the flexibility that it offers as tenants. In general, renting is slightly cheaper than taking on a home loan and you also don’t need to worry about maintenance, as the landlord is responsible for that.
However, the rental market differs from province to province, and Private Property pulled data from their website dated from July 2018 to look at the median rental prices that were on offer around the country.
There is no surprise that the Western Cape is at the top of the list. Renowned for higher living costs, this coastal province has a median rental price of R13 500. This is significantly higher than the second-placed province, Kwa-Zulu Natal, which has a median rental price of R9500.
Gauteng is found in third place, where the rental price drops to an average of R9000. The full list is as follows:
- Western Cape: R13 500
- KwaZulu-Natal: R9500
- Gauteng: R9000
- Northern Cape: R8800
- Limpopo: R7798
- Mpumalanga: R7400
- North West: R7280
- Eastern Cape: R6000
- Free State: R5995
In the luxury rental market, both the Western Cape and Gauteng were dominant, boasting 9 of the top 10 most expensive suburbs to rent – with Dainfern Valley and Waterfront placed 1st both boasting rental prices of R45 000. KwaZulu-Natal was the only other province to feature on the top 10 list, with the suburb of Zimbali breaking in at ninth place.
