SA Rental Property Demand Pulls Financier Attention
Demand for property to rent is experiencing a high, according to Harcourts SA CEO Richard Gray, with entry level property prices of R400,000 being beyond reach of many young execs on the Western Cape.
With middle class consumers paying from R750 000 to R1.6m for a family home, demand for property to rent is receiving attention from stockholders asserts Gray. "With rates remaining consistently low, mortgages are very cheap and landlords who can afford a family home in a good area are discovering they can pay their investment off in 10 to 15 years on a property to hire, in contrast to 20 to 30 years. "
Gray comments that price is an enormous issue, although not the only issue, "Many families with good incomes are in the market for property to lease for a variety of reasons, work mobility is a good reason and also , the need to be close to a good school is a different reason why folk look for property to rent."
According to Gray, a normal family may have their own rental properties, and choose to rent rather than own their own family home. Whatever the reason that folks are having a look at property to rent, Gray says that there are is a huge demand for property to rent and that many of the tenants are in higher earnings bracket with stable employment.
"Landlords favour a tenant with stable employment and diverse social connections within a community, when talking of property to rent Harcourts has found that there is very rarely an issue with renters of middle revenue family houses. "
Harcourts S. A. offers a full property to lease service, from finding suitable rental properties for financiers and landlords to purchase , matching tenants with the right property to rent, and a full rental service whereby the speculators pass over the day by day administration issues to Harcourts.
Gray points towards the Cape West Coast as an example where backers are at present getting property to rent thanks to the economic development zone (IDZ) at Saldanha being given the green light, "Over the next 20 years it is predicted that there will be an inflow of young qualified people looking for higher density housing units due to employment opportunities stemming from the IDZ. "
Gray says that the existing residential housing stock is also at capacity and there are possibilities for backers who are offering property to lease in the way of family homes near the IDZ,"In the short term quality properties across the sector will experience demand pressure, which is going to have a repercussion on price," concludes Gray.
With middle class consumers paying from R750 000 to R1.6m for a family home, demand for property to rent is receiving attention from stockholders asserts Gray. "With rates remaining consistently low, mortgages are very cheap and landlords who can afford a family home in a good area are discovering they can pay their investment off in 10 to 15 years on a property to hire, in contrast to 20 to 30 years. "
Gray comments that price is an enormous issue, although not the only issue, "Many families with good incomes are in the market for property to lease for a variety of reasons, work mobility is a good reason and also , the need to be close to a good school is a different reason why folk look for property to rent."
According to Gray, a normal family may have their own rental properties, and choose to rent rather than own their own family home. Whatever the reason that folks are having a look at property to rent, Gray says that there are is a huge demand for property to rent and that many of the tenants are in higher earnings bracket with stable employment.
"Landlords favour a tenant with stable employment and diverse social connections within a community, when talking of property to rent Harcourts has found that there is very rarely an issue with renters of middle revenue family houses. "
Harcourts S. A. offers a full property to lease service, from finding suitable rental properties for financiers and landlords to purchase , matching tenants with the right property to rent, and a full rental service whereby the speculators pass over the day by day administration issues to Harcourts.
Gray points towards the Cape West Coast as an example where backers are at present getting property to rent thanks to the economic development zone (IDZ) at Saldanha being given the green light, "Over the next 20 years it is predicted that there will be an inflow of young qualified people looking for higher density housing units due to employment opportunities stemming from the IDZ. "
Gray says that the existing residential housing stock is also at capacity and there are possibilities for backers who are offering property to lease in the way of family homes near the IDZ,"In the short term quality properties across the sector will experience demand pressure, which is going to have a repercussion on price," concludes Gray.
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Harcourts South Africa offer property for sale, property to rent,homes for sale, commercial leasing, rural property sales, lifestyle real-estate and business for sale right across SA.
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