3 Trends in the Pretoria Property Market Investors Need to Know

PUBLISHED 9 OCT 2020   

3 Trends in the Pretoria Property Market Investors Need to Know

 

As a response to the global pandemic, the Pretoria property market is changing. While the shortage of affordable houses to buy was once a definite driver for the rental market, first-time buyers and investors are using the latest property crash as a golden egg to fuel property rentals in Pretoria.

 

Over the past decade, Pretoria has grown in popularity among renters, particularly upcoming professionals and young families looking to move to smaller spaces or trendy apartments. Once labelled Johannesburg’s sleepy neighbour, the Jacaranda City offers appealing leafy suburbs, affordable property rentals, and the convenience of the city at your doorstep. Whether you are an investor looking for an excellent ROI or a seasoned buy-to-let property owner, here are three rental trends that are sure to see Pretoria’s property market well into the new decade.

 

  1. Retirement and Family Gated Residential Communities

     

    Crime rates in South Africa are high, and as a result, people not only want a house with an excellent security system. They want the complete package: a secure home in a safe and leafy suburb where they can raise their children or retire with peace of mind. The Pretoria rental market is witnessing a significant number of retirees and families migrating from bigger properties to townhouses in gated villages in Pretoria. Security is a prime requirement for renters, and people want an environment where their kids can ride their bikes, play on the front lawn, and not feel trapped behind burglar bars.

     

  2. Generation Rent Is Here to Stay

     

    Millennials are not buying homes at the same age their parents did. Traditionally, for Boomers and Gen X, renting was the first step before purchasing a house. Today’s new breed of young adults would rather rent apartments and townhouses in trendy areas than get tied down. While one would think it is because they cannot afford a bond, the reality is they prefer to stay flexible and fluid. Millennials are opportunity seekers, and this enables them to get-up-and-go at the drop of a hat, whether it is for travel or work opportunities.

     

  3. Single-Family Rental Homes are a Hot Commodity

 

The millennial market aside, as empty nesters face tumultuous economic times and downsize or as more and more families look for alternative ways to cut back on their living expenses, Pretoria’s rental market will only continue to grow. In expanding suburbs like Hazeldean, Menlyn Maine, Silver Lakes, and Lombardy, where estates cater for a wide range of clients that range from stack bachelor units to townhouses and freestanding houses, rental demand is high. With new developments going up all the time, such as schools, medical facilities, shopping malls, office parks, and restaurants, coupled with the tremendous amount of job opportunities created, it is no wonder families, retirees, and young professionals prefer to rent in Pretoria.

 

Now is a Good Time to Purchase and Rent

 

Despite the economic difficulties and pandemic, this is the market for buyers. For renters, there are some incredible properties to rent in Pretoria that price well, so it is a great time to snap up your dream property, townhouse, or loft apartment at a rental you can actually afford.

 

At Huurkor, we are a family run business that has helped thousands of families, students, retirees, and young professionals purchase, sell, and rent homes, flats, townhouses, and loft apartments throughout Pretoria and Johannesburg. If you are looking for property to rent in Pretoria, make sure you contact Huurkor Sales. Not only do we have over 50 years of experience and expertise in the property market, but we have a vast portfolio. Contact us to view the latest property to rent in the most beautiful suburbs of Pretoria.