SA’s post-lockdown rental rebound
The post-lockdown surge in rental activity may not be enough to mop up an oversupply of flats and townhouses to let
Estate agents have reported a flurry of activity in the rental market in recent months, as South Africans adjust to post-lockdown shifts in their housing needs. Of course, many who lost their jobs or took pay cuts have been forced to downsize. But upsizing and interprovincial relocations are apparently equally common, driven by thousands of previously office-bound staff now working from home.
An anecdotal rise in emigration-related selling is seemingly also fuelling demand for rental housing, albeit temporarily, while those looking to leave the country wait for international travel restrictions to be lifted.