Everitt cited recent data from FNB which shows buy-to-let property purchases accounted for 11% of all home purchases in the first quarter of this year, up from 10% in the same period of 2021, despite continued high vacancy rates in most of the rental market.
“ where AirBnB has met a lot of resistance, and where demand is actually already rising for rental apartments in luxury high-rise buildings and rental homes in South Africa’s most sought-after suburbs and lifestyle estates,” he said. Further demand is coming from affluent empty-nesters who have decided to sell their family homes and rent rather than own to enjoy a more carefree retirement and be able to travel more easily and plan more activities with friends.
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