Rosebank remains a rental hotspot

Along the trendy streets of Rosebank, large apartment complexes co-exist with high-end shopping malls, offering little bits of absolutely everything. With Rosebank’s pleasant working, shopping and entertainment setting, it’s no wonder the area has become a suburb of choice for many living in the city.

However, its popularity has also resulted in a high entry barrier for those looking for property to rent in Rosebank . For example, you can expect to pay on average R18 000 per month for a two-bedroom, two-bathroom apartment at The Vantage “This means that purchasers at The Vantage who are renting out their units are achieving a gross yield of between 9%-10%, which is excellent for residential rentals,” says Chris Renecle, MD of Renprop.

Owners at The Tyrwhitt, which is the second Renprop and Grapnel Property Group development in the area, are also seeing positive outcomes in terms of rental yields as a result of the high demand for property. Those buying-to-rent expecting high yields on one and two-bedroom apartments as well as capital growth. “Around 16% of the units at The Vantage have been resold at prices of up to 30% more than the original launch price,” he says.

The fact that residential stock is increasingly difficult to find in Rosebank can be ascribed to its commercial district that continues to develop, as well as its location between the Johannesburg and Sandton CBD. Rosebank is also experiencing a boom in premium comfort facilities and boasts well-developed public transport infrastructure.

If renters are able to afford property in Rosebank, they can get to the front of the rental queue by attending the inspection, submit a cover letter with their application and call the agent to discuss the property as soon as it is listed online.