INSIDE YOUR POCKET – Residential rental sector benefits from low vacancies amidst higher interest rates
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GUEST - Waldo Marcus, Industry Principal at TPN Credit Bureau
The residential rental sector continued to perform strongly with low vacancies in the fourth quarter of 2023, continuing its recovery trend of the previous three quarters, according to TPN Credit Bureau’s latest Vacancy Survey Report. Waldo Marcus, Industry Principal at TPN Credit Bureau says higher interest rates and low consumer confidence are amongst the reasons for this strong performance. “The current environment has deterred many South Africans from home ownership, resulting in a shift to the more secure and predictable alternative of renting residential property.”
The residential rental sector continued to perform strongly with low vacancies in the fourth quarter of 2023, continuing its recovery trend of the previous three quarters, according to TPN Credit Bureau’s latest Vacancy Survey Report. Waldo Marcus, Industry Principal at TPN Credit Bureau says higher interest rates and low consumer confidence are amongst the reasons for this strong performance. “The current environment has deterred many South Africans from home ownership, resulting in a shift to the more secure and predictable alternative of renting residential property.”
