Two homes in Cape Town have broken the record for the most expensive rental properties in South Africa.<\/p>\n
According to real estate group, Dogon, the first home is a R220,000 per month property on the Atlantic Seaboard, while the second property is a R450,000 a month home in Constantia.<\/p>\n
Speaking to BusinessTech, Dogon rental manager Odette Maartens said it was difficult to say for certain that the rentals were record-breaking, as there is no active registry for rentals like there is for sales.<\/p>\n
At the same time, she said that the rentals were far and away the largest she had seen in the market and at her 10 years at Dogon.<\/p>\n
“It’s also at a time when rentals have been at a low in the market, so it’s surprising that we’ve done two record-breaking deals in a month,” she said.<\/p>\n
“It’s also encouraging, as the middle-class market and traditional renters have expressed concern over the weakening economy and political issues”.<\/p>\n
Maartens was unable to confirm the exact specifications of the properties, to keep their location and ownership private.<\/p>\n
However, she said that both properties could be considered “extremely high-end” and “spectacular”, with the Constantia property taking up multiple stands, and holding significant historical value.<\/p>\n
In 2016, Dogon Properties was responsible for the record-breaking sale of a Cape Town home for R290 million.<\/p>\n
Rental prices in Cape Town<\/strong><\/p>\n Earlier this month,\u00a0property group Seeff said that\u00a0the rentals sector of the Cape metro remains the strongest performer in the country.<\/p>\n It said that while\u00a0R80,000 a month seemed high just two years ago, top-end properties in Clifton now commanded R150,000 to R170,000 a month.<\/p>\n Karyn Farrell, rental admin manager for Seeff Atlantic seaboard and City Bowl, said that the suburbs commanding the highest monthly rents are Clifton, Bantry Bay, Fresnaye and the V&A Waterfront, but Camps Bay is also highly rated.<\/p>\n The highest monthly rents are R80,000 at the Waterfront, R170,000 in Bantry Bay\/Fresnaye and R150,000 in Clifton, Seeff said.<\/p>\n While the most popular monthly rental range is between R25,000 and R40,000, rents even in Mouille Point can now reach R100,000 a month. At the V&A Waterfront you can rent an opulent penthouse for R170,000 a month.<\/p>\n
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