Demand from multi-national companies continues to stimulate residential rental market

Posted On Wednesday, 23 March 2016 11:06 Published by
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“While many South African consumers have started to feel the economic pinch in recent months, the demand for accommodation in the greater Johannesburg area has continued unabated, and this has ensured that the residential rental property market in much of the region has remained robust.

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The letting market in certain centres also continues to be stimulated by multi-national corporates seeking upmarket homes for their employees.”

So says Rupert Finnemore, the regional head of Pam Golding Properties in Gauteng. According to Finnemore, Johannesburg, the economic powerhouse of South Africa, is continuing to attract visitors from all over the world, as well as multinational companies seeking to create a presence for themselves on the continent. He points out that the executives and representatives of these companies require suitable, upmarket accommodation while working in the country.

“Over the last 10 years there has been an increasing demand from corporates from all over the world to rent residential properties for their employees and their families in Johannesburg, Sandton and the northern suburbs. Many of these organisations rent homes on behalf of their staff, while others provide a rental allowance which enables their executives to find their own accommodation.”

“Whatever the case, there is little doubt that the demand from corporates and their employees is assisting to drive the upmarket segment of the rental property in certain desirable suburbs of Johannesburg, and investors have been able to take advantage of the excellent buy-to-rent opportunities that have been available in such areas.”

According to Finnemore, corporate rental clients of Pam Golding Properties are from leading companies from a range of sectors. The corporates are for the most part multinational companies that in some cases are seeking to accommodate hundreds of employees.

 

 

Last modified on Wednesday, 23 March 2016 11:20

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