SA’s most prestigious rental suburbs

The market is fairly tough at the moment, whether you are looking at listing property for sale in Johannesburg, or even trying to find the perfect place to rent.

For many, the first prize is to own a home so that they are investing their money in a long-term asset, but there are also a lot of people who prefer to rent and cut out a lot of the admin and costs that come with purchasing a home. And often, when times are tougher people would normally opt to look at the rental market.

However, despite the tough conditions, there is interest in the luxury rental market, mainly due to the number of business executives, foreigners and major companies that are prepared to fork out a premium price.

When looking at rental prices across the board, the Western Cape is unsurprisingly the most expensive. Looking at data pulled from Private Property in July this year, the median rental price in the Mother City was at a whopping R13 500.

In Gauteng, that asking price drops considerably, with the median rental price being at R9000. KwaZulu-Natal was R500 higher in price, while the lowest priced province was the Free State, with the rate being R5995.

Reports from many experts in the market suggest that there has been a slowdown in the rental market, largely due to the increased cost of living, high petrol prices and other financial pressures, and this has prevented landlords from lifting prices.

Despite this, there are still some people willing to pay the maximum, and from the same Private Property report they showcased the top five most expensive suburbs to rent in:

Atlantic Seaboard – Waterfront 1: R45 000

Fourways, Sunninghill and Lonehill – Dainfern Valley: R45 000

Atlantic Seaboard – Clifton: R42 000

Sandton and Bryanston – Inanda 1: R40 000

Southern Suburbs – Constantia: R35 000