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Northern suburbs tenants the best in the Cape

A recent survey by credit bureau TPN has suggested that tenants in South Africa’s more affordable suburbs may be more reliable than their counterparts in wealthier areas – and it’s named parts of Cape Town’s Northern Suburbs as the best areas for tenants who pay their rent consistently and on time. 


Aerial view of property in Brackenfell

The suburbs of Oakglen in Bellville and Protea Heights in Brackenfell were among the top performers, with TPN finding 97 percent and 96 percent of their respective tenants to be in good standing.
 
Pam Golding Properties’ area principal for these areas, Keimpe Weistra, says the suburbs are both inhabited mostly by young professionals and young families. “These are hard-working young people who want to ensure they maintain a good credit record, and who therefore tend to be conscientious and reliable tenants,” he says. “There is substantial demand for rentals in these areas, and new stock is typically snapped up within a week of becoming available. Coupled with the good rental returns one can expect to earn, this makes them the ideal place for investor buyers to purchase.”
 
Landlords in Protea Heights can expect to earn up to R4700 per month in income for a three-bedroomed apartment, while a townhouse can fetch as much as R6 000 to R8 000 per month. Around 40 percent of the area’s sectional title homes are currently tenanted. In Oakglen, a one-bedroomed apartment can fetch R3900 per month, going up to R5500 for a two-bedroomed unit and R6500 for a townhouse.
 
Besides the appeal of high demand, good rental returns and reliable tenants, affordability is another major draw-card for both investors and those buying to live in the area. They can expect to pay between R480 000 and R700 000 for a sectional title property in Protea Heights, with townhouses fetching between R800 000 and R1.3 million. Freestanding homes in the area cost between R800 000 and R3 million. In Oakglen, apartments are priced up to R350 000 for a one-bedroomed unit and R550 000 for a two-bedroomed unit, while a townhouse can cost up to R900 000. Buyers can expect to pay between R1.1 million and R1.45 million for a free-standing home.


This four-bedroomed home in Protea Heights is on the market through Pam Golding Properties, priced at R1.599 million. The low-maintenance home has open plan kitchen and living areas, an indoor braai room and double garage with direct access.  It is located close to schools and other amenities.
 
Weistra says accessibility is another appealing feature of both suburbs. “They are located close to the R300 and N1 highways, offering easy access to both Cape Town and Stellenbosch,” he notes, “and with easy access to train stations and bus routes for those who rely on public transport.”
 
Good schools are another draw-card – La Rochelle Primary in Oakglen and Bastion Primary in Protea Heights both have solid reputations, while the new Bastion High is currently under construction. A Curro private school is also expected to be built soon in nearby Sonkring, while a new school for children with intellectual disabilities will open its doors in Oakglen in 2015. “These new schools should all drive demand from families wanting to settle in the area,” says Weistra.


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