Head of Data and Analytic at PayProp Johette Smuts talks to Kieno Kammies about the trends picked up in the rental market in its latest rental index.
It still shows the Cape is the most expensive place to rent in SA, but it also shows the market is showing signs of recovery.
The Western Cape is still the most expensive market to rent in and it has been that way for a very long time.— Johette Smuts, Head of Data and Analytic - PayProp
She says, however, the 10% rental hikes in the province are no longer taking place.
This is caused by a combination of factors - from supply and demand to affordability.— Johette Smuts, Head of Data and Analytic - PayProp
Consumers are under pressure and not everyone can afford an increase of 10% in their rental every year. At some stage, a landlord must just settle for a 5% increase or the property will stand empty which makes it a lot more expensive.— Johette Smuts, Head of Data and Analytic - PayProp
Listen to the insightful interview below:
This article first appeared on CapeTalk : Cape Town still most expensive place to live in SA, but rental hikes drop