Payprop's head of analytics and data, Johette Smuts and Africa Melane discuss the trend of renting for longer before buying property, or not buying at all.
CAPE TOWN - According to the quarterly PayProp Rental Index, the average age of tenants in the South African rental market is 41.4 years.
"If you want to buy in the centre of town, you'll probably only be able to afford that when you're 50 at the current house prices, in urban areas especially." "The average percentage of salaries that people currently spend on rent is about 29/30% and in the Western Cape it's even higher - the average is 32%.
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