A new report shows the most exclusive areas in South Africa when it comes to renting property.
The report, compiled by the country’s largest processor of residential rental transactions PayProp, and detailed in the Sunday Times, showed that Midstream Estates in Centurion, Tshwane, beat the more well-known affluent areas in Cape Town.
PayProp’s data for the fourth quarter of 2016 put the average monthly rental price in Midstream Estates at R16,000, ahead of suburbs including: Hout Bay, Sea Point, Franschhoek and Camps Bay.
The top five suburbs in the report all commanded an average rental price exceeding R12,000 per month, versus the average price of R7,062.91 per month.
Top 10 most expensive suburbs to rent property in South Africa
|2||Hout Bay||Western Cape|
|3||Sea Point||Western Cape|
|5||Camps Bay||Western Cape|
Other notable suburbs in PayProp’s report included: Tokai and Constantia, in Cape Town, while Bryanston and Fourways, located in North Joburg, also featured in the top 15.
Average rental in South Africa’s nine provinces in Q3 2016
|#||Eastern Cape||R5 226|
|#||Free State||R5 225|
|#||North West||R4 697|
|#||Northern Cape||R7 562|
|#||Western Cape||R7 529|