The cheapest and most expensive rental hotspots in SA
Own a rental property? Here’s a look at the most expensive and cheapest rental prices per province. Take a look.
The current economic crisis and cost of living have most South Africans tightening their belts. If you’re looking for rental properties, take a look at the cheapest rental property hotspots in South Africa, according to BusinessTech.
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THE CHEAPEST RENTAL PROPERTY MARKETS IN SA
If you own a rental property, we have some good news. According to the latest PayProp Rental Index for the second quarter of 2023, rental prices showed year-on-year growth across all nine provinces. According to BusinessTech, South Africa’s positive rental growth has been on a positive trajectory for the past seven years, accelerating to 4.4% year-on-year.
“This is the fastest we’ve seen since the 5.3% measured in Q4 2017, and it is still trending upwards,” the report states.
In plain terms, the national average rent for the second quarter is R8 375, up 4.4% from R8 032 in Q2 2022.
According to the report, the most expensive province for rentals is the Western Cape (average rent price R9 730), with North West rentals coming in the cheapest with an average rental price of R5 985.
The average rent in Gauteng is R8 691. In KZN, it’s R8 817, while the national average is R8 375.
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HERE’S A LOOK AT THE CHEAPEST RENTAL OPTIONS
WESTERN CAPE
Are you looking for an apartment rental in Cape Town? This bachelor apartment in Cape Town Central is available for R9 000 per month. According to Pam Golding, it has an open-plan main bedroom, kitchen, living room, and 24-hour security. It’s available for long-term rent and is the perfect lock-up-and-go bachelor unit with courtyard views.
GAUTENG
This gorgeous one-bedroom apartment in Menlo Park is in a high-security complex, creating a safe and secure living environment for its residents. Security features include dedicated 24/7 CCTV security, high-speed fiber connectivity, USB wall charging points, and solar geysers. According to RE/MAX, the first-floor apartment available for R9 000 consists of one bedroom with an en-suite bathroom, a massive balcony, and one allocated covered parking bay.
KWA-ZULU-NATAL
Need to rent an apartment in Ballito? This two-bedroom home is perfect and available for R8 500 per month. According to Private Property, the apartment’s complex has access control, 24-hour security guards, a large and sparkling communal swimming pool, a clubhouse, and a gymnasium.
