Checkout the 10 most expensive suburbs to rent property in SA
DURBAN - Private Property has just released their list of the most expensive suburbs to rent property in South Africa.
The rental data showed that the Western Cape is currently the most expensive province to rent in with a median rental price of R13 500 per month.
According to Private Property, the cost of renting is driven by the demand in the suburb and demand in a suburb is influenced by a variety of factors including affordability, transport links, lifestyle, security amongst other things.
Below is a table that ranks median rental prices from most expensive to least expensive:
|Province||Median Rental Price|
According to reports, the rental market is slowing down with huge increases in the cost of living consumers are under financial pressure and it limits the increases that landlords can put into action.
The upper end of the market is starting to experience an oversupply of luxury homes for rent. However, there are many business executives, wealthy foreigners and multinational companies that are still prepared to pay a premium for rentals in elite areas.
Here is a table that shows the most expensive median rental prices according to Private Property for July 2018:
|Area||Suburb||Median Rental Price|
|Atlantic Seaboard||Waterfront 1||R45000|
|Fourways, Sunninghill and Lonehill||Dainfern Valley||R45000|
|Sandton and Bryanston(North)||Inanda 1||R40000|
|Rosebank and Parktown||Melrose Arch||R33000|
|Fourways, Sunninghill and Lonehill||Fourways Gardens||R32000|
|Pretoria East (South)||Woodhill||R30000|
|Atlantic Seaboard||Bantry Bay||R30000|
According to the above table the three most expensive suburbs to rent in is Waterfront, Dainfern Valley and Clifton.
In Waterfront, R45000 rent per month a person can get an 2 bedrooms, 2 bathrooms, fully furnished apartment at the V&A Marina. The apartment overlooks the water and is in close proximity to surrounding amenities.
For R45000 a month a person can get a 4 bedroom house to rent that has an open plan lounge and fully covered patio.
For R42000 per month a person get a 2 bedroom apartment in Clifton that overlooks the ocean. The apartment has an open plan living and dining area as well as an entertainment area.
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