🏡 The rental market in Johannesburg is experiencing an upsurge driven by several factors, including loadshedding. 💡 Property RealEstate CapeTown Read more below ⬇️
The rental market in Johannesburg is experiencing an upsurge and is expected to remain on a sustained upward curve as more people choose to rent rather than buy.
“These individuals prefer to rent rather than buy as it offers them the flexibility to move if they find better employment opportunities. “Working close to home remains a priority in a post-pandemic world and increased load shedding has made people reluctant to work far from home due to traffic and nonfunctional robots.
So, too, is lower consumer confidence in the economy and the country, as well as a reduced commitment to bricksand-mortar assets, said Tyson. So many opt to rent, which feeds the supply side, while tenants choose rental over buying as plans to leave the country deter investing in property. In a robust rental market, landlords and agents emerge as winners.
Roodt also suggested that the impact of hybrid working had caused some changes in requirements from prospective tenants.
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