Holiday rentals fetch up to R21 000

Foreigners are once again expressing keen interest in renting property in the Western Cape and particularly the Atlantic Seaboard this festive season, and are prepared to pay as much as R21 000 a day for exceptional properties.

As the festive season approaches, many homeowners in popular areas may be contemplating whether a small fortune can be made by renting out their homes for the peak holiday season.

Pam Golding Properties' rentals director for the Western Cape Metro region, Dexter Leite, says the holiday rental market tends to be heavily focused on the Atlantic Seaboard. He says he has noted interest from foreigners seeking rental terms of a month or two, for example in Hout Bay, where rentals vary from R1800 to R3000 per day in high season, and Llandudno where the figure can rise as high as R10 000 rand per day.

Leite adds that there has been an increase in foreign interest for the months of January, February and March, at rates of around R20 000 per month.

However, he says the chief holiday rental demand is seen in Clifton, Bakoven, Bantry Bay and Camps Bay, where owners often vacate their homes for the high season so as to maximise rental returns.

"The most popular period for these rentals is from 20 December through to 6 January, when rentals of up to R4000 per day can be achieved — although a few exceptional properties can demand as high as R21 000 per day," says Leite.

Still a market for buyers too

PGP says there is still a market for both buyers and renters of holiday homes.

PGP's MD for the Western Cape Metro region, Mick Joyce, says Cape Town's Western Seaboard remains one of the most popular areas for buyers of holiday homes, particularly along the long stretches of beachfront from the Lagoon Beach through Dolphin Beach and Bloubergstrand up to Melkbosstrand.

PGP's Blouberg area manager Madelon Venter reports that there is also considerable interest from overseas buyers, including Germans and UK residents who have purchased holiday homes in this area.

PGP adds that further up the West Coast, the town of Langebaan remains popular for holiday homes, particularly those along the beachfront, with access to the lagoon.

Area manager Stephanie Wynne Cole says there is a good mix of buyers who utilise these homes for their own family holidays, and those who capitalise on the buy-to-let market, where rentals of around R1600 to R2500 per day.

Along the South Peninsula, the market for holiday homes has quietened somewhat, according to the agents. However, area manager Colleen Curtis reports that towns such as Fish Hoek, Kommetjie and Scarborough remain popular for their beaches and sea views, as well as their laid-back atmosphere. Prices here are reported to range from around R700 000 for apartments up to around R3-million for larger homes.

Src: Iafrica.com (Evan Pickworth)
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