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Western Cape Remains South Africa's Top Performing Rental Market

Cape Town nr 1 Cup

The Western Cape continues to shine as the best performing rental market in South Africa, according to the latest Rental Index Quarterly Report for Q4 2023. The province excelled across several key metrics compared to the rest of the country:




PayProp Rental Index Q4 2023
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Rents & Growth: The Western Cape is still the most expensive province to rent in, with an

Payprop Rental index 2023 Q4
Payprop Rental index 2023 Q4

average rent of R10,118 in Q4 2023, up 3.9% year-on-year. This was enough to finally take the province's average rent past the R10,000 mark.


Tenant Risk: An incredible 50.7% of Western Cape tenants are classified as minimum risk, by far the highest percentage in South Africa and well above the 37.7% national average. The province also has the lowest share of high-risk tenants at just 16.9%.




Payprop Rental index 2023 Q4
Payprop Rental index 2023 Q4

Arrears: Only 14.3% of Western Cape tenants are in arrears, the lowest figure nationwide and below the 17.0% national average. Tenants in arrears owe an average of 62.5% of monthly rent, also the country's lowest.


Income & Spending: Western Cape tenants earn more on average (R45,824) than those in any other province. They spend the 2nd lowest percentage on debt (39.3%) and have the 3rd highest disposable income (31.3%).


The Western Cape's remarkable outperformance makes it an extremely attractive market for rental property investors. Capitalise on this province's continued success with an investment at Haasendal Estate, an established secure lifestyle estate in a high-growth area with a proven 8+ year track record.



Through Rentalprop, part of the House of Realtors group, you can invest in apartments from R900,000 and houses from R1,900,000 at Haasendal Estate. Situated in a prime rental node with strong tenant demand, these properties represent an excellent long-term investment prospect underpinned by the Western Cape's thriving rental market.


To learn more about how you can benefit from the Western Cape's rental market leadership with a Haasendal Estate investment, contact Christo Booysen today at 082 494 9255. Our experienced area specialists are ready to help you become part of this exceptional growth story.



The Links Haasendal Estate
The Links Haasendal Estate

Anton Mulder, House of Realtors, Haasendal Estate
Anton Mulder, House of Realtors, Haasendal Estate

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