South Africa's luxury homes are back in high demand, especially by foreigners, after the pandemic-induced downturn.
But it's a five-bedroom home in Upper Constantia, rented to an Irish tenant for R130,000 per month, that set a record.South Africa's super luxury property rental market is bouncing back in the wake of the Covid-19 pandemic's worst, with foreign tenants paying upwards of R100,000 per month for homes in high-end suburbs, according to Seeff Property Group.
Cape Town remains the most popular destination for overseas visitors and foreign-rented holiday homes, with interest in Camps Bay, Fresnaye, and Tamboerskloof in the City Bowl surging post-lockdown, according to Jessica Marais, rentals manager for Seeff Atlantic Seaboard.Examples of this fresh demand for high-end homes along Cape Town's Atlantic Seaboard include a Camps Bay property rented to a family from Sweden for R100,000 per month.
The Upper Constantia property, rented to a tenant from Ireland, costs R130,000 per month, setting a new record, according to Jacqui Bush, rentals agent for Seeff Constantia. The foreign tenant paid for a three-year lease upfront.
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