select
|

Landlords make the most of demand for holiday rentals

Property owners in Sea Point and Green Point are increasingly asking their agents to offer shorter leases of six to nine months to tenants in furnished apartments so they can take advantage of the lucrative holiday market.

“These two suburbs are popular for their convenience and accessibility to Cape Town’s CBD, beaches, parks, restaurants, theatres and shows. This makes them favourite destinations for holidaymakers and other short term renters like swallows,” says Glenda Luitingh, sales manager at Jawitz Properties Atlantic seaboard.

“Sea Point and Green Point are also seen as ideal springboards for settling into living in the Mother City. People who move to Cape Town for the first time from overseas or from other areas of the country find Sea Point and Green Point to have a bit of everything.

“These areas are perfectly equipped and situated as a great place to base yourself initially while exploring Cape Town and deciding where to eventually settle,” says Luitingh. “The proximity to the CBD and the Waterfront is very appealing with every amenity imaginable just down the road, many within walking distance. Those looking for a lock up and go lifestyle are also fans.”

As a result, there is a huge demand for accommodation, including unfurnished rentals, cottages, pet friendly accommodation and also garden apartments.

In the summer months, Sea Point is extremely popular; particularly the Sea Point promenade which on warm summer evenings is packed with dog walkers, exercisers and sundowner enthusiasts. The winter months are just as popular with bustling restaurants and plenty to do.

Green Point is sought after for its cosmopolitan feel and wealth of shops and restaurants and a hop, skip and a jump away at the Cape Quarter Lifestyle Centre, visitors can choose from many delicious eateries and coffee shops and explore a good variety of speciality stores.

Green Point has enjoyed substantial urban renewal since the 2010 World Cup and the addition of the Green Point Stadium. This economic boost has inspired additional refurbishments and renovations of older apartment blocks, as well as new developments coming on stream.

Entry level rentals in Sea Point are between R5 500 and R6 000 for studio apartments and in Green Point the same would be R6 500.

“These are about the lowest rents you’ll pay in these areas. Some rentals can go as high as R100 000 a month. The average rental, however, is between R10 000 and R20 000 for one- or two-bedroom apartments,” says Luitingh. “Two examples in the area are The Ivory and 7 on Tramways which still offer lucrative buy-to-let investment opportunities. It’s a positive, buoyant market and certainly the place to be.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 19 Feb 2018
      Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
    • 16 Feb 2018
      Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
    • 15 Feb 2018
      One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
    • 15 Feb 2018
      While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 14 Feb 2018
      The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK