leisure property
Rise of the ‘staycation’
As cost-of-living increases and high interest rates bite, many potential holidaymakers have chosen to stay at home this year — yet landlords are not budging on short-term rental rates
24 November 2022 - 05:00
Despite the local hospitality sector gearing up for a bumper post-Covid festive season, industry players in coastal resorts are reporting a slower-than-expected uptake of short-term lets.
It seems higher interest rates and soaring living costs are to blame, forcing many South Africans to put December holiday plans on hold and opt for a “staycation” instead...
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