SA’s residential rental property market continues to show resilience in the face of high-interest rates and weak consumer disposable income, registering low vacancies and payment defaults in the first quarter of 2023. Moneyweb RentalProperty Matshoba_A
South Africa’s residential rental property market continues to show resilience in the face of high interest rates and weak consumer disposable income, registering low vacancies and payment defaults in the first quarter of 2023. This is according to insights shared in TPN’s latest Residential Rental Monitor Report this week. Read:R2.
The worst is reportedly being felt on the extremes of the rental scale, with tenants paying less than R3 000 in monthly rent and those paying over R25 000 feeling the most pressure in trying to keep up with payments. In fact, data reveals that the count of tenants in good standing has continued to decline slightly for three consecutive quarters as consumers buckle under financial pressure.
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