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Article: Rental market undergoes renaissance.(Business Report)
- Article from:
- The Star (South Africa)
- Article date:
- March 7, 2008
CopyrightCOPYRIGHT 2008 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: Roy Cokayne Pretoria
The residential property rental market is strengthening to a point where it could promote an overall sector recovery, according to the First National Bank (FNB) residential property rental markets barometer released yesterday.
It revealed that 75 percent of rental properties were snapped up in less than a month of coming onto the market. Eighty percent of letting agents indicated that the market was stronger than six months ago.
In addition, only 3 percent of letting agents suggested activity levels had declined in their areas in the past six months and 82 percent said there was a shortage of available rental stock ...