Boland, Winelands and West Coast rentals pick up as buy-to-let prospects return
DEMAND for rental accommodation across the Winelands, Boland and West Coast regions is buoyant, says Seeff ’s managing director for the areas, Pierre Germishuys.
Seeff ’s rental business has grown this year and it now manages more than 300 leases in those areas, with 12 rental agents operating across the regions, says Germishuys.
Business and commercial growth in areas like Worcester, Saldanha and Tulbagh, although to a lesser extent, has fuelled the demand, he says.
“The influx of business means employment growth and consequently an increase in demand for rentals with stock shortages now becoming prevalent across many of the areas. For the first time in years, we can now say that there are good buy-to-let opportunities available here.”
“One of the biggest areas for potential investment, is the affordable sector of the market with rents of below R5 000 to R6 000 a month,” says rentals manager, Marinda Uys.
“De mand f o r f a r mi n g accommodation is also high and in short supply as farms tend to be let out quite quickly through friends and acquaintances and are not formally listed.”
As a general guideline, rents in Worcester range between R6 500 and R7 000 a month and from R7 500 to R12 000 for luxury accommodation. In Paarl, tenants now pay on average R6 000 to R8 000 and over R10 000 for luxury accommodation. Tulbagh rents range between R4 500 and R6 000 on average.
Franschhoek is still largely a short-term rental market, but t he demand f or l ong- t er m rentals is growing, says Uys. Accommodation for young professionals at between R5 500 and R7 500 a month is especially in demand as are family homes at of between R7 500 and R16 000 a month.
Luxury homes are more expensive. Seeff recently concluded a lease on a luxury fourbedroomed home with views in La Ferme Chantelle at R33 000 a month and the old homestead on the historical farm Keerweerder was let out at a similar amount.
Stellenbosch is one of the busiest rental markets, especially for student accommodation, says Uys. Bachelor pads now fetch between R4 500 and R5 500 a month, two-bedroomed units are rented out at R6 000 to R8 000 and three- bedroomed flats at about R10 500 a month.
The economic development on the West Coast, especially around the port and newly launched industrial development zone in Saldanha, has already resulted in a spike in demand for rental accommodation in Saldanha and Langebaan, says Uys.
“As economic growth continues and new jobs are created, this demand is set to swell significantly.”
“Average rents in Saldanha are now around R5 600 and R7 000 in Langebaan, although corporate rentals range between R11 000 and R17 000 a month. Cheaper accommodation at between R3 000 and R5 600 a month, though is especially in demand. Langebaan is also a popular holiday village and with the November to April tourist season upon us, short- ter m accommodation will be in demand with visitors prepared to pay daily rentals of up to R4 000 for a house or apartment in a good location and with luxury amenities.”
C a l l Ma r i n d a U y s o n 021 876 4592 or 079 837 8933 or e-mail firstname.lastname@example.org.