A lack of Cape Town investment properties has led proprietors to increase rentals by two-digit rates.
The explanation behind the lack is that more financial specialists are leasing their properties in the City Bowl and the encompassing region for shorter stays, utilising the online accommodation stage Airbnb.
PayProp CEO Louw Liebenberg told the daily paper that the development of Airbnb and the guarantee of higher returns has persuaded proprietors to expel their properties from the long haul rental market.
Liebenberg said they have additionally observed a “major move” of inhabitants from Johannesburg and Pretoria to Cape Town and the Cape Winelands district.
This has prompted to a surge sought after, especially in the R15,000+ every month section.
He cautioned that in spite of the fact that the Western Cape rental market will keep on outperforming different locales throughout the following year, occupants would not have the capacity to retain rental increments uncertainly.