Bargains abound in SA’s reeling rental market
Residential rental prices have fallen by as much as 40% in some areas, amid a growing oversupply of housing stock as more and more tenants struggle to pay rent
Anyone looking to rent an apartment over the next few months is likely to be in the pound seats, as a flood of rental properties is expected to come to the market. Stock levels have already risen in most cities across SA as Airbnb, holiday property owners and "aparthotel" operators make their units available for long-term rental in a bid to secure an income while SA’s tourism and travel industry remains in lockdown.
Houses that were for sale before Covid-19 hit SA — and which haven’t yet sold — are also increasingly being placed in the rental pool.