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Atlantic Seaboard, City Bowl landlords coining it

PIC 2 - CAMPS BAY DESINGER SUITE - R30K PER MONTHRental yields in the City Bowl and Atlantic Seaboard are expected to hold firm in the 6% to 7% range due to a poor economic climate which tends to cap rental rates and, consequently, yields.

This is according to Dinis Martins, Seeff’s COO for the areas, who said the biggest demand was in the R20,000 to R30,000 per month range, which would generally be for two- and three-bedroomed apartments.

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“There is also still an upsurge in the demand for rentals in the R40,000 to R55,000 per month range, these being primarily on the Atlantic Seaboard and for luxury properties with a good location and preferably with good views,” he said, noting that the short-term market has seen tremendous growth with landlords achieving anything upwards of R1,000 a day in Sea Point to R5,000 to R6,000 per day on average. “Luxury properties can achieve upwards of R20,000 per day.”


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