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
    • 20 Apr 2018
      Whenever changes in the political ecosystem of a traditional property market create uncertainty, smart investors begin to look elsewhere for new opportunities. Property experts at IP Global have analysed the trends and crunched the numbers to find new markets to explore in Europe and the United States.
    • 20 Apr 2018
      Energy and water self-sufficiency are increasingly important factors in home buyers’ choice of property – especially in Cape Town where the extreme drought of the past few years has made municipal supply costly as well as uncertain.
    • 19 Apr 2018
      During the last decade, rampant development has progressively transformed Cape Town’s property landscape with densification being the order of the day, but there are still one or two hidden gems like Scarborough which have retained their original character, offering an inimitable lifestyle and an attractive investment opportunity.
    • 19 Apr 2018
      The rental market is a cut-throat sector of the real estate market that waits for nobody. According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, first-time renters need to be fully prepared before they even start the process of looking for a place to rent in order to avoid the disappointment of losing out on their ideal property.
    • 19 Apr 2018
      Choosing to buy your first home instead of continuing to rent is a big decision that will usually take some time to put into action, but the sooner you can save up a sizeable deposit, the closer you will be to reaching your goal.
    • 18 Apr 2018
      Selling your home is no small task and as you will quickly find out, there are a lot of misconceptions about the process. Gerhard van der Linde, Seeff's MD in Pretoria East lists the top 5 misconceptions when you are selling your home.
    • 18 Apr 2018
      The Cape Town municipality is now installing water-management devices at properties that have been non-compliant with the new level 5 water restrictions and there are talks of fines between R5,000 and R10,000 for households that use too much water.
    • 17 Apr 2018
      The recent interest rate cut has stoked the coals in the first-time buyer’s market. At least for the next two months until the next interest rate announcement, homeowners are guaranteed lower monthly instalments than in the previous quarter. But, is it wise to take out a 100% bond just to enter the property market while interest rates are low?
        
    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