Boland, Winelands and West Coast rentals pick up as buy-to-let prospects re­turn

Weekend Argus (Saturday Edition) - - PROPERTY - SATUR­DAY

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 marinda.uys@seeff.com.

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