Still-strong demand for decent rental accommodation in inner cities
Despite difficult economic conditions, inner cities remain attractive to both investors and tenants. Reduced travel time, beating the rising price of energy, easy access to technology, education and employment as well as a range of social and economic amenities fuel the deep demand for affordable accommodation in the downtown areas of SA’s metropolitan spaces. Investors are able to capitalise on higher yields when compared with traditional residential classes as well as increased opportunity for densification and the utilisation of existing infrastructure. This is a real attraction considering the recent increases in construction costs. Our research indicates that nationally there is an increased preference and demand for smaller, self-contained units such as bachelor and one bedroom apartments. This offers affordability, security and privacy.With 90% of the over 92,000 households living in Johannesburg’s inner city renting their accommodation, the demand for decent and affordable a...
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