Good news for property owners in the Western Cape is that the province is in the enviable position of having high demand and a lack of supply. This has accelerated the rate at which rental prices are increasing – and are expected to continue increasing. However, although property owners will be able to demand higher rental prices, they will have to ensure that tenants are able to afford these higher prices. The risk is that tenants desperate for accommodation might start falling behind on their rental payment commitments as the pressure of higher living costs starts to bite.
Excerpt from the TPN Vacancy Survey
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