Middle-income rental vacancies rising.

Because of the downward phase in South Africa’s economy, the number of vacant rental properties are rising at a steep pace. 

 

According to Andrew Schaefer, MD of national property manager Trafalgar, this occurrence in the market signals the reducing of disposable income and falling confidence in future growth as more first time tenants don’t move from their parents’ homes, people double up to save money and couples considering splitting up can’t afford to.

 

As a dramatic rise in vacant properties occur, there are an expecting turn in the market within the next 18 months.

 

-Andrew Schaefer

 

Read the full Story here.