{"id":798086,"date":"2024-11-02T17:00:00","date_gmt":"2024-11-02T15:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=798086"},"modified":"2024-11-01T16:11:37","modified_gmt":"2024-11-01T14:11:37","slug":"the-difference-between-a-r750-vs-r300000-per-month-apartment-for-rent-in-joburg","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/798086\/the-difference-between-a-r750-vs-r300000-per-month-apartment-for-rent-in-joburg\/","title":{"rendered":"What R750 vs R300,000 per month gets you when renting in Joburg"},"content":{"rendered":"\n

South Africa\u2019s economic hub, Johannesburg, lures those across the economic spectrum \u2013 and the city’s rental property caters to everyone. <\/p>\n\n\n\n

With a population of over 6 million people, Johannesburg’s residents range from the lowest earners to the wealthiest individuals in the country. <\/p>\n\n\n\n

Determining who qualifies as \u201cpoor\u201d, and \u201crich\u201d in South Africa is a difficult task, since definitions can vary quite widely. <\/p>\n\n\n\n

According to Statista<\/a>, as of 2024, an individual living in South Africa with less than R1,109 per month was considered poor. <\/p>\n\n\n\n

Furthermore, individuals having R796 a month available for food were living below the poverty line according to South African national standards. <\/p>\n\n\n\n

Estimates for what is considered \u201crich<\/a>\u201d range from R39,600 per month to as much as R162,300 per month.<\/p>\n\n\n\n

Since affordability is a key factor for renters, budgets can range significantly across these economic groups.<\/p>\n\n\n\n

The general rule of thumb is that rent should not exceed 30% of one’s monthly income, meaning that lower-income renters would ideally spend no more than R332.70 per month, while higher earners can allocate R11,880 or more.<\/p>\n\n\n\n

Looking at properties currently available for rent in Johannesburg on Property 24, wealthier South Africans have plenty of choices for affordable housing.<\/p>\n\n\n\n

However, in Gauteng, there are no properties currently available for less than R750, which is the least expensive property currently being advertised.<\/p>\n\n\n\n

This means that for “poor” South Africans, rent either has to be split between multiple people, or they have to rely on informal housing as an alternative. <\/p>\n\n\n\n

Below is the least and most expensive apartment currently available to rent in Johannesburg on Property 24.<\/p>\n\n\n\n

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The Sentinel \u2013 R750 per month<\/h2>\n\n\n\n
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This unfurnished, 0.5-bedroom apartment is located in Hillbrow, Johannesburg, and can be leased from the Indluplace<\/a> rental agency. <\/p>\n\n\n\n

The Sentinel<\/a> at 171D Van Der Merwe Street offers communal rooms starting from just R750 per month. <\/p>\n\n\n\n

Currently, this rental is available for no deposit, 50% off the first month\u2019s rent, and no admin fees. <\/p>\n\n\n\n

New tenants also receive a R100 Uber Eats voucher. Designed for convenience, these rooms each include a private kitchen, bathroom, and built-in cupboards. <\/p>\n\n\n\n

The building\u2019s prime location provides easy access to daily essentials, nearby BRT stations, and a short walk to Parktown, Park Station (Gautrain), and local taxi ranks.<\/p>\n\n\n\n

Additional perks include 24-hour security, prepaid electricity, water metering, parking, and an on-site building manager.<\/p>\n\n\n\n

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Houghton Estate \u2013 R300,000 per month<\/h2>\n\n\n\n
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On the other end of the spectrum, many of South Africa\u2019s wealthiest people also opt for Johannesburg.<\/p>\n\n\n\n

Whether they are drawn by the financial opportunities from South Africa\u2019s \u201cRichest Square Mile\u201d in Sandton, the array of luxury properties, or the wide variety of lifestyle activities \u2013 there is plenty of draw for the country\u2019s highest earners.<\/p>\n\n\n\n

While Joburg\u2019s richest residents would likely opt to buy property rather than rent, at least in the long term, there is still an array of luxury rentals available for these people.<\/p>\n\n\n\n

Currently, the most expensive property<\/a> on offer in Johannesburg is a fully furnished 2-bedroom, 2.5-bathroom, 630 m\u00b2 penthouse in Houghton Estate, which is currently available for R300,000 per month from the Infinity Realty Group SA<\/a>.<\/p>\n\n\n\n

Nazia Shah, Director of Infinity Realty Group SA, explained that “Houghton Estate is one of Johannesburg\u2019s most prestigious areas, known for its exclusivity, proximity to the city\u2019s business centres, and quiet, leafy streets.” <\/p>\n\n\n\n

“This makes it an ideal location for those seeking a balance of luxury living with convenient access to essential services and city amenities.”<\/p>\n\n\n\n

Shah told BusinessTech that the property offers the following features:<\/p>\n\n\n\n