Rentals market growing in Boland and Overberg

As many would-be home-owners struggle to obtain mortgages amid current market conditions, the demand for rental properties is growing in many regions – and the Western Cape’s Boland and Overberg regions are no exception, according to a Pam Golding Properties press release.

The busiest and most expensive area within this region is the Franschhoek/Paarl area. “Typically this area has very few lets available under R5 000 per month”, says PGP’s B&O Rentals Manager, Nic Campher. “Most are over R8 000 per month, going up to a ceiling of R35 000 per month for a top-end home in De Zalze golf estate.”

The Somerset West area also attracts high rentals. There are some apartments available from R3 500 per month, but the majority of homes come in at over R6 000 per month, and many fetch in excess of R12 000 per month. The highest price achieved by PGP in this area to date has been R30 000 per month, for a home in the De Zalze Golf Estate.

“Strand traditionally has the best range of stock on the market,” says Campher, “especially in the lower price brackets. We see the highest demand in this area at R2 500 to R3 800 per month. Similarly Gordon’s Bay has many options in the R2 200 to R3 600 per month bracket, with just a few top-end properties fetching upwards of R10 000 per month.”

Further along the coast, areas like Hermanus, Onrus and Gansbaai see more seasonal and holiday activity, and so are more likely to attract shorter-term rentals than the larger towns. In Hermanus, leases are typically under R6 000 per month, dropping to as low as R1 500 to R3 500 per month in Gansbaai.

Article from: www.rodneyhayter.com