7 of Gauteng's popular rental areas and what you'll pay
Category Rental Property
The greater Johannesburg/Pretoria rental market continues to perform well.
Although there are still some challenges, the market has stabilised following the crisis period resulting from the Covid-19 lockdowns where many people experienced financial distress, says Samuel Seeff, chairman of the Seeff Property Group.
Generally, as with most rental markets, Seeff says the rental markets in the metros remain competitive, and landlords need to note the importance of pricing correctly for the market to avoid the risk of the property remaining vacant.
He says working with credible and experienced rental agents is also vital to minimise the risks associated with poor tenant selection, rental prices that are set too high for the market and vacancies.
Below Seeff's experts elaborate on the popular rental areas:
Sandton, Fourways and Midrand
The Sandton, Fourways and Midrand areas are among the most in-demand rental areas as these are home to many business and commercial nodes as well as the Sandton and Fourways CBD areas. The areas offer a fabulous lifestyle with access to amenities, leisure facilities and top-class schools including many private schools, says Charles Vining, MD for Seeff Sandton
"The greater Sandton area, therefore, boasts a dynamic and high demand rental market. Rental rates tend to vary depending on the suburb and type of property, but those in the R7 000 to R12 000 per month range are most in demand.
Apartments around Norwood, Craighall, Killarney and Saxonwold are available from around R7 500 for a one-bed unit. Expect to pay upwards of R8 500 per month for a one-bed unit in areas such as Parktown, Houghton and Rosebank.
New developments, however, are priced upwards of around R18 000 per month for one bed depending on the area and what the development offers. New two-bed apartments from around R27 400 per month in Rosebank and R28 000 in Dunkeld West. Currently also have new penthouses in Rosebank from around R92 700 per month at the top end of the apartment market, explains Vining.
"Houses from around R23 000 in Parkhurst and a townhouse in Sandown for R36 000. Luxury houses tend to range upwards of R40 000 to R50 000 per month in areas such as Hurlingham, Bryanston, Sandhurst and so on. Top-end homes on the market currently range from R62 000 per month in Atholl, R80 000 in Morningside, R90 000 in Hyde Park and R195 000 in Sandhurst.
Midrand is renowned for its affordability with rentals ranging from around R6 000 to R12 000 per month on average for apartments. Houses in the Midrand area can range from around R8 000 on average with top-end homes reaching rates of around R25 000 to R40 000.
Randburg
The greater Randburg area is vast with many business and commercial nodes and hence a vibrant rental market. It is also often sought for its access to great schools and offers excellent infrastructure and amenities as well as proximity to Sandton for some areas, says Duane Butler, licensee for Seeff Randburg.
Popular rental areas include Linden and surrounds, Randpark Ridge and Ferndale.
Linden provides a range of quality rental options, good schools and proximity to Sandton, Rosebank and Auckland Park as well as green spaces such as Delta Park and Johannesburg Botanical Gardens.
Expect to pay between R6 200 and R11 400 per month on average in Linden, but four-bed homes can range between R16 000 and R18 000, says Butler.
"Linden tenants are often students of young single individuals looking for quality, safe bachelor pads, one-bed units or garden cottages in close proximity to Sandton, Rosebank or Auckland Park. We also see young couples who tend to look for two-bedroomed apartments as well as families looking for freestanding units or houses with a garden.
Randpark Ridge offers more affordable rentals west of the N1 Highway while good-sized properties are available at a fair monthly rental. The suburb is quieter with an out of the city feel and offers great access to the highway. It is only a 15-minute drive to be completely out of the city towards Magaliesburg and Hartebeespoortdam and only 16km from Sandton Central.
Rental rates start at around R5 900 per month for a one-bed apartment and range to R11 000 for three beds. Houses can range from R15 000 to R16 000 per month, notes Butler.
"Tenants around the Randpark Ridge area tend to be young families looking for two to three bedroomed properties. More established families or professionals also look in the area for its quality, good-sized rental homes in what is regarded as a good neighbourhood to live in.
Ferndale offers a very central location and a large variety of rental options that cater for most needs. It is a very diverse neighbourhood in terms of demographics. There is a good mix of residential homes, shops and commercial property. Rental prices are low compared to neighbouring Bryanston and other nearby sought-after areas, hence it offers a great location, he says.
Rentals start at around R5 500 for a one-bed apartment and range to R11 200 for three beds.
"Ferndale comprises a diverse profile of tenants, from students to professionals along with families and individuals as the area offers a large variety of properties at affordable rental prices which caters to a diverse range of property needs.
Johannesburg South
Claire Store, an intern rental agent from Seeff Southcrest branch says the Johannesburg South area is renowned for its value for money and hence home to a dynamic rental market with high demand from tenants.
Popular areas include Southcrest, Verwoerdpark and Alberton. The most in-demand range for rentals tends to be in the R7 000 to R10 500 per month range although rentals can range to around R12 500 and upwards depending on the property.
These neighbourhoods are popular because they are well maintained and generally safe. They are also close to schools and shopping centres. Tenants tend to be young couples with children and they tend to look mostly for ground floor and pet-friendly properties, says Store.
Pretoria East
The greater Pretoria East area is one of the most in-demand in Pretoria for a variety of reasons including the wide range of suburbs and estates available, offering something to suit every buyer's need and budget. The area is also home to a number of luxury suburbs and estates which tend to attract high-end tenants, says PG van der Linde, rentals manager for Seeff Pretoria East.
"Popular areas for rentals tend to be around Lynnwood and Menlo Park for student accommodation, young professionals and families. The areas are close to many of Pretoria's top schools and the University of Pretoria, hence it is very popular amongst most tenants.
There are also new upmarket developments that fetch high prices compared to the same sized properties in other areas, says Van de Linde. The average sectional title unit will rent out for around R13 000 to R17 000 (furnished) per month while full title properties can easily rent out for around R30 000 per month, especially if located in boomed off areas and estates. The area is also vibrant with many restaurants and eateries.
Another popular neighbourhood in Pretoria East is Equestria which falls into the more affordable rental price bracket, according to Van de Linde.
"Here you may find sectional title units at around R7 000 to R9 000 per month depending on the complex and size of the units, and whether it has a garden or is a stack unit. The area is ideal for starter homes for young people and families before they move on to something bigger. It is also perfect for scaling down and offers good security and proximity to many amenities.
Woodhill Golf Estate and neighbouring estates tend to attract higher rentals for the luxury homes and gated security on offer. Woodhill falls under the higher price bracket and is very popular with embassies and businesses renting properties for employees, says Van de Linde.
Properties tend to rent out for upwards of R30 000 and can go as high as R70 000 to R80 000. Security and lifestyle are the main priorities for tenants.
Centurion
Centurion is a vast area that is hugely popular for rental properties for a variety of reasons, says Tiaan Pretorius, manager for Seeff Centurion.
It is ideally located for access to Pretoria, Midrand and Johannesburg and is home to excellent schools and amenities. There are also many security complexes and gates estates to choose from.
"The most in-demand rental range is around R7 000 to R8 500 per month for two-bed units and R9 000 to R10 000 for three-bed units. Security estates average around R15 000 to R20 000 per month but can go from R20 000 to R25 000 depending on the property and estate.
Author: Property24
