As the post-pandemic economy continues to open up, the luxury housing rental market is on a recovery path thanks to increased demand from both local and foreign tenants. But this has seen consumers coughing up as much as nearly R300 000 per month for a high-end home in one of the country's priciest suburbs.
Areas such as the Cape Town Atlantic Seaboard, Constantia Upper, Bishopscourt, Sandton, Paarl, Franschhoek and luxury estates in particular are once again achieving monthly rentals of over R100 000 per month, according to rental agents at the Seeff Property Group.
On top of that, the opening up of borders after the Covid-19 pandemic has seen more high-end international tenants heading back to SA, often for business purposes.
Higher-end rentals in the greater Sandton and Johannesburg North areas are also popular among tenants from other African countries.
Supplied Pam Golding Properties
Gauteng
Rochelle Holland, rentals manager for Seeff Sandton, says there has been a huge increase in demand across the Sandton and Johannesburg north area this year, especially in golf estates in the Fourways area and in suburbs close to the Sandton CBD. These include Morningside - R25 000 pm to R35 000 pm - as well as Hyde Park and Sandhurst - generally in the R70 000-plus pm range.