Demand for property to rent is experiencing a high, according to Harcourts S. A. CEO Richard Gray, with entry level property prices of R400,000 being out of the reach of many young execs on the Western Cape.
With middle class buyers paying from R750 000 to R1.6m for a family home, demand for property to rent is receiving attention from investors says Gray. "With IRs remaining regularly low, mortgages are awfully cheap and 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 lease, in opposition to 20 to 30 years. "
Gray comments that cost is an enormous issue, although not the only issue, "Many families with good incomes are in the market for property to lease for several reasons, work mobility is a good reason and also the desire to be near a good school is one more reason why folk look for property to rent."
According to Gray, a typical family may have their own rental properties, and choose to lease rather than own their own family home. No matter what the reason that people are taking a look at property to hire, Gray claims that there are is a large 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 it comes down to property to hire Harcourts has found that there is very rarely an issue with of middle revenue family property. "
Harcourts S. A. offers a full property to hire service, from finding suitable rental properties for speculators and landlords to purchase , matching tenants with the right property to hire, and a full rental service whereby the speculators relinquish the day by day administration issues to Harcourts.
Gray points towards the Cape West Coast as an example where investors are at present getting property to lease thanks to the industrial development section (IDZ) at Saldanha being given the green light, "Over the next 20 years it is anticipated that there will be an influx of young qualified folk hunting for higher density housing units due to employment opportunities arising from the IDZ. "
Gray claims the existing residential housing stock is also at capacity and there are possibilities for backers who are supplying property to rent in the way of family houses close to 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 buyers paying from R750 000 to R1.6m for a family home, demand for property to rent is receiving attention from investors says Gray. "With IRs remaining regularly low, mortgages are awfully cheap and 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 lease, in opposition to 20 to 30 years. "
Gray comments that cost is an enormous issue, although not the only issue, "Many families with good incomes are in the market for property to lease for several reasons, work mobility is a good reason and also the desire to be near a good school is one more reason why folk look for property to rent."
According to Gray, a typical family may have their own rental properties, and choose to lease rather than own their own family home. No matter what the reason that people are taking a look at property to hire, Gray claims that there are is a large 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 it comes down to property to hire Harcourts has found that there is very rarely an issue with of middle revenue family property. "
Harcourts S. A. offers a full property to hire service, from finding suitable rental properties for speculators and landlords to purchase , matching tenants with the right property to hire, and a full rental service whereby the speculators relinquish the day by day administration issues to Harcourts.
Gray points towards the Cape West Coast as an example where investors are at present getting property to lease thanks to the industrial development section (IDZ) at Saldanha being given the green light, "Over the next 20 years it is anticipated that there will be an influx of young qualified folk hunting for higher density housing units due to employment opportunities arising from the IDZ. "
Gray claims the existing residential housing stock is also at capacity and there are possibilities for backers who are supplying property to rent in the way of family houses close to 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 SA offer property for sale, property to rent,homes for sale, commercial leasing, rural property sales, lifestyle property and business for sale right across S. A..
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