select
|

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.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
    • 16 Nov 2017
      Cape Town’s popularity as a world-class tourist destination has resulted in a spike in the number of homes available for holiday lets and fuelled investor demand for sectional title units with short term rental potential.
    • 15 Nov 2017
      Sappi, one of South Africa’s oldest global companies and a leading global supplier of sustainable woodfibre products, has moved its global and regional headquarters to a new site on the corner of Oxford and 14th Avenue in Rosebank.
    • 15 Nov 2017
      There’s an old saying in real estate that you should seek to make a profit when you buy, not only when you sell – and a large part of succeeding at that endeavour is buying a home in an area with desirable features that will enhance the resale value of your property.
        
    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