Rental Market in Overdrive

The rental market in Muizenberg and surrounds is in overdrive and there’s no end in sight. Recently the number of rental enquiries received by Glendyr Dade Properties has increased by at least three fold, this despite the fact that very little stock is available and as a result fewer “to let” adverts are being posted.

The City of Cape Town says that the influx of people into Cape Town has reached an unprecedented high and the trend is not expected to change with the result that we at GDP are achieving record rentals prices as competition heats up for the few available properties in the rental market. Some prospective tenants have even opted to buy as the disparity between rental prices and bond repayments have shrunk to such a degree as to be negligible in many instances.

So if you’re thinking of moving remember to have a careful look at what’s available before handing in notice on your current lease as there seems to be an ever accelerating demand.

 

Derek Ross

Glendyr Dade Properties