Residential

Gauteng: SA’s most affordable rental market

Mooikloof Estate, Pretoria.

Gauteng is home to the largest rental market in South Africa and according to TPN, its rental market stands at about 48% of all households.

Seeff says it is still ‘cheaper’ to rent a home in Gauteng when compared to the Cape. The average rental for Gauteng sits at around R8 379 compared to the Western Cape at R9 399 and KwaZulu-Natal at R8 381 based on PayProp data.

While rental rates generally remain under pressure in the province, Seeff notes that top-end tenants have paid up to R55 000 per month for a home in Dainfern Valley Estate and R92 700 per month for a luxury penthouse in Park Central in Rosebank.

Pretoria East is now a high-demand rental area for its apartments, townhouses, and estates, according to PG van der Linde, rentals manager for Seeff Pretoria East. The area includes a choice of suburbs which cater to various price points from affordable apartments to luxury estates and suburbs which attract business and government executives as well as ambassadorial staff.

For students and young professionals, areas such as Lynwood and Metro Park are popular due to close proximity to schools and the University of Pretoria. The area is cosmopolitan with restaurants and eateries with many new upmarket developments. Rates start from around R13 000 for sectional title and upwards of R30 000 for full title in the estates and boomed off areas.

Centurion popular for its easy access to Pretoria, Midrand, and Johannesburg. Tiaan Pretorius, manager for Seeff Centurion says the area has an active rental market and rents have remained stable. Top attractions for the rental market include great schools and amenities and a high volume of security complexes and estates. Rates for apartments range from about R7 000 to R10 000 per month while houses in security estates rent for around R15 000 to R20 000 on average per month.

Sandton, Fourways, and Midrand remain prime areas for access to the Sandton and Midrand CBDs. Rochelle Holland, rentals manager for Seeff Sandton says rental rates have remained fairly stable. While top-end rentals can range to about R195 000 per month for a spectacular high-end estate in Sandhurst, there are many affordable areas for young professionals and families alike.

The highest demand is in the R7 000 to R12 000 per month range. Apartments in areas such as Rosebank and Dunkeld West which offer modern living is priced at around R27 000 to R28 000 per month.  Affordability is a key characteristic of Midrand. Apartments start from just R6 000 and houses upwards of R8 000 although top-end homes can go to as much as R25 000 to R40 000 per month.

Randburg offers solid middle-class affordability close to Sandton and business nodes. John O’Reilly, rental expert for Seeff Randburg says Randburg is a vast area characterised by affordability combined with a great location with easy access to Sandton and many business nodes, top schools, and amenities.

Johannesburg South offers some of the most affordable rentals. While the more affordable rental market experienced significant challenges, Claire Store from Seeff Southcrest says areas such as Southcrest, Verwoerdpark and Alberton are doing well as they offer some of the best value.

These areas are safe and well-maintained and offer proximity to schools which is great for young families. Rates range from around R7 000 to R10 500 on average per month but can go to R12 500-for a top property.