5 super luxury properties you can rent in South Africa – including one for R195,000 per month

The luxury housing rental market continues its strong recovery, say Seeff Property Group’s rental agents.

Areas such as the Cape Town Atlantic Seaboard, Constantia Upper, Bishopscourt, Sandton, Paarl, Franschhoek and luxury estates, in particular, are once again achieving monthly rentals of over R100,000 per month.

Rental rates have also escalated notably in the high-demand price brackets on the Atlantic Seaboard according to Jessica Marais, rentals manager for Seeff Atlantic Seaboard.

With the economies opening up and international travel once again back in demand, Seeff expects a strong summer and tourist season. Already, we have achieved significant rentals over the last year, said Samuel Seeff, chairman of the Seeff Property Group.

These include R130,000 per month in Upper Constantia on a three-year lease which was paid upfront by a tenant from Ireland and two high-value rentals in Camps Bay of R100,000 and R95,000 per month, respectively. In Sandton/Johannesburg North, Seeff also secured a significant R92,700 per month for a penthouse in the Park Central development in Rosebank.

Stock shortages and premium rental rates

According to Jessica Marais, there has been a tremendous uptick in luxury rental demand this year across the high-end suburbs such as Camps Bay, Fresnaye and Tamboerskloof in the City Bowl.

Demand is coming from local and foreign tenants. Seeff has concluded a number of high-end rentals to foreign tenants. These include R100,000 per month in Camps Bay to a family from Sweden, R80,000 per month in Fresnaye to a family from Switzerland and R70,000 per month in Camps Bay to an American corporate tenant.

Looking ahead to the approaching summer high-season period, she notes that stock levels are quite depleted with quality properties renting out quite quickly. Due to the high demand for luxury rentals, rental prices are up by between 15% to 20% from last year.

Constantia Upper and Bishopscourt record rentals

Jacqui Bush, rentals agent for Seeff Constantia said there is now strong demand from international tenants. Aside from achieving a record rental of R130,000 per month in Constantia Upper, she is working with various clients from the US and UK.

They are looking for premier properties in Constantia Upper, often coming to South Africa for work or business, and demand high-quality rentals. While there is generally adequate stock at the high end of the market, she said there is a shortage of mid-market stock in the R20,000 to R30,000 per month range on the back of high demand.

Sandton/Johannesburg North attracts more tenants from other African countries

The greater Sandton and Johannesburg North areas are prime rental markets for luxury rentals driven by local demand as well as international (including from other African countries), according to Rochelle Holland, rentals manager for Seeff Sandton.

She also noted that there has been a huge increase in demand across the Sandton and Joburg North area this year, especially in golf estates in the Fourways area and in suburbs close to the Sandton CBD.

These include Morningside in the R25,000 to R35,000 per month range as well as Hyde Park and Sandhurst, generally in the R70,000-plus per month range.

While the majority of high-end leases are concluded with local tenants, she said there has been an uptick in demand from international tenants as well as from other African countries. Many are relocating to Joburg for work purposes and mainly look at the inner Sandton suburbs.

Numerous corporate relocation agencies have also reached out to Seeff’s agents in the Sandton and Fourways areas, specifically looking for properties within security estates in the R30,000 to R65,000 per month rental price bracket.

Pretoria East is a hotspot for luxury estate rentals

PG van der Linde, rentals manager for Seeff Pretoria East said the area is in high demand for luxury rentals, especially in the security estates. The market is driven by demand from high-end tenants including government officials and foreign embassy staff.

Luxury homes rent for upwards of around R30,000 to between R70,000 and R80,000 per month with security and lifestyle the main priority for tenants. In Woodhill Golf Estate, for example, a rental of R64,000 per month was achieved.

Winelands property attracting foreign and semigration tenants

Aside from residential rentals, Moira Atkinson, a rental agent with Seeff Franschhoek said there has been increased demand from foreign visitors as well as people emigrating to the Cape.

It is expected that both the Cape Peninsula as well as the surrounding coastal and winelands areas will be in hot demand over the approaching summer and holiday season. This, said Atkinson, will naturally further boost the demand for rentals.

Seeff is also observing that the renewed trend of semigration to the Cape is adding further impetus to the rental market with people moving here often looking to rent before they buy.

KwaZulu Natal North Coast attracts local and foreign tenants

Aside from local tenants, especially from upcountry, the KZN North Coast area is also popular with international tenants. Semigration is also a big driver of demand for rentals in the area.

Brett Botsis, the licensee for Seeff Umhlanga, said the rental market continues to perform well as the area is now a hotspot for high-net-worth buyers and tenants.

Rates for high-end properties range from around R35,000 per month to as much as R60,000 in Hawaan Forest Estate and R100,000 per month for a luxury house in Umhlanga Rocks.

Market stock in estates in the Zimbali/Ballito area such as Zimbali currently ranges from around R45,000 to R55,000 per month.

Rental properties:

Camps Bay – R80,000/month for this 4-bed townhouse villa overlooking the Atlantic Ocean

Constantia Upper – R130,000/month for this spectacular estate with a 5-bed main residence plus two cottages and three staff suites

Sandhurst – R195,000/month for this spectacular Sandhurst estate

Pretoria East, Mooikloof Equestrian Estate – R65,000/month for a super luxury 1,400sqm home on 1ha of land in this top-end estate

Franschhoek – R65,000/month for this luxury home in the La Bella Vita Estate within the Santé Winelands Estate where you can reside among vineyards

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