More South African properties are standing vacant – but that could change in the coming months
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More South African properties are standing vacant – but that could change in the coming months

The South African Tenant Profile Network annual report published at the end of 2020 showed that vacancies in South Africa’s residential property market were more than double those recorded at the start of that year.

The figure rose from 5% to 11% – but is slowly showing first signs of improvement, says Rowan Alexander, director of the Cape Town estate agency, Alexander Swart Property.

Particularly hard hit were the two price categories that are always the first to feel the effects of a tough economic period: those homes renting below R3,000 per month and those renting above R25,000 per month, said Alexander.

Alexander said that three main factors have impacted on the rental market – all of which are likely reversible and…

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