Residential Rentals Are Booming in 2022
Category Rentals
The Atlantic Seaboard is taking the lead.
The Atlantic Seaboard has long been a hotly desired area to own and rent in. And while the appetite for buying and selling continues to grow, the demand for rentals is booming.
Indeed, the growth in the rental markets for both the Atlantic Seaboard and City Bowl this quarter (as reported in June 2022) is the highest it's been post-pandemic. With the shortage of stock in the rental market, particularly in the higher price brackets, landlords are achieving higher market rental prices.
The factors that have contributed to the recent boom include the resurgence of semigration, with the majority of upcountry tenants from Gauteng. Interestingly, instead of semigrant enquiries predominantly being from families, a large percentage are now also from young professionals. Of course, there are also foreigners who have been contracted to work in Cape Town. Some properties are also being rented by tenants who first want to 'test' the lifestyle, job and investment opportunities that Cape Town and the Atlantic Seaboard area have to offer before making a long-term commitment to buy.
The Atlantic Seaboard is one of the safest, most central and exclusive areas in Cape Town, is home to many trendy restaurants, bars, beaches and shops, and offers a sophisticated, cosmopolitan lifestyle.
Homeowners in the area who might be on the fence about selling should consider letting now.
Seeff offers above-board service and many years of experience. With over 40% of our leases being concluded in the higher price brackets, trust us to help you secure the highest market-related rental price for your property.
Should you be interested in learning more about our landlord services, or want to know more about the current and expected future property market conditions, reach out to one of our property experts - we'd love to help.
In addition, you can also request a free rental valuation to make sure you get the right return on your investment.
Author: Seeff Atlantic Seaboard & City Bowl
