The high levels of activity recorded at the top end of the winter rental market have continued into spring.
Pam Golding Properties (PGP) reports that its Western Cape Rentals division has concluded some 460 leases in the months of August, September and October 2009 alone. These take the year to date total for new leases to the value of over R75m.
High-priced deals were concluded across virtually all regions of the Cape metro area, including the Southern Suburbs, City Bowl, Atlantic Seaboard and Western Seaboard. Some of the notable deals included the following:
- R50k per month in Fresnaye - R50k per month in Bishopscourt - R49k per month in Bantry Bay - Monthly leases of R45k, R36,750, R35k, and R32,500 in Constantia - R26,500 and R26k per month in Camps Bay - R20k per month for an apartment in Clifton - R31,080 per month in Higgovale, R25k in Oranjezicht and R18k in Tamboerskloof - R19k per month for a City Bowl apartment - R25k monthly lease in Sunset Links and R16k in Sunset Beach
PGP's Western Cape rentals director Dexter Leite says the company also concluded four leases for two-bedroomed apartments at Mont Clare, the new development in Claremont, at R8,500 per month.
PGP's Western Cape rentals director Dexter Leite says the highest demand by far is for long-term leases of unfurnished apartments and homes.
"This is worth noting for those owners who might be considering renting out their properties over next year's World Cup period," he says.
"The level of demand and rates achievable during this period are still unknown. Short term lets require full furnishing and equipping of properties and carry with them the inherent risks of short-term holiday lets. We would therefore advise owners to carefully weigh up the pros and cons of seasonal high-paying, high-risk short term lets, versus those of long-term, relatively low-risk unfurnished lets."
Leite says enquiries from property owners are coming in steadily. Many are from owners wishing to let out their own (fully furnished) homes for the World Cup.
For more information contact PGP's Western Cape rentals division on 021 673 4300 or send an email.
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