Assessing rental prices across SA
If you are choosing to rent or buy property for sale in Johannesburg, the current list of median rental prices in South Africa could interest you. With the assistance of Private Property, we have assessed the cost of rentals from around the country.
Choosing to rent or rather buy property for sale in Johannesburg is a personal decision and both of them come with a range of benefits.
When opting to purchase a property, you gain a long-term asset that could grow in value. Achieving this requires quite a bit of admin and financial security, and is likely to cost more than it would to simply rent. However, going this route means that in the future you could recuperate your spend, which is something that is not available to you when renting.
The benefit of going for a rental is the more affordable monthly rate, while it is also an option that offers immense flexibility, making it ideal for those who may not yet want to settle, or move around regularly due to work reasons. Added to this, you are not responsible for the maintenance of the property, so if a geyser bursts you simply have to alert the owner.
At present, with the technical recession and ever-increasing living costs, landlords also find themselves being unable to lift rental prices, making it an attractive option for many across the country.
Private Property recently scoured through data from their website in July 2018 to determine the median rental price in provinces around the country. This snapshot gives you a good indication of what you can expect to pay wherever you may decide to settle.
Gauteng was in third place on the list with a median rental price of R9000. Of course, rental prices can drastically change when moving to more affluent areas, and in the same report Private Property pointed out some of the most expensive rental suburbs in South Africa. Gauteng dominated that list with five spots, where prices went as high as R45 000.
On average, the most expensive province to rent in was the Western Cape, which did not really come as a shock. The Mother City is infamous for high living costs, but what was interesting was the margin at which they lead by. Their median rental price was R13 500 per month, which was R4000 more than second-placed Kwa-Zulu Natal.
Check out the full list of provinces with prices below:
- 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
