“R40k for a 2 Bedroom?”: Monthly Rental Prices for CPT Apartments Have SA in Disbelief

• A woman shared a long list of Cape Town apartments to show how high monthly rentals have risen as of late
• The Mother City is a hotspot for digital nomads who have been visiting from wealthier countries, making prices soar
• South Africans were stunned by the prices and shared their frustration about foreigners who drive up the housing market

A lady shared a clip of herself scrolling through a property website to highlight how pricey Cape Town apartment rentals have become of late. South Africans were equally stunned by the high prices and shared their thoughts on the recent flux of digital nomads heading to Mzansi.

Soaring valuation

TikTokker lifewithbigglets shared the clip with a caption that read:

"Digital Nomads are taking over and Cape Town locals are in the pits with these rental rates😭"

Many South Africans agreed with the caption and voiced their concerns over skyrocketing apartment prices. In the video she shared, the first apartment seen is a three-bedroom one that costs a whopping R30,000 a month to pay. A two-bedroom apartment in the city centre will set a person back by R15,000.

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See the crazy prices below:

They just keep going up

Digital nomads from wealthier countries tend to come to South Africa because of their stronger currencies. It allows them to purchase things here for cheap, which includes rental prices for them. Several TikTokkers from the US and UK can be found online, posting price breakdowns on how affordable things are in Mzansi.

Local landlords in cities such as Cape Town have taken notice of this and have risen housing rental costs. One housing unit in the video shown above costs R40,000 for only two-bedrooms. South Africans had a lot to say about the situation.

Read the comments below:

Nomfundo_M said:

"R90k p/m is insane considering the fact that an average South African doesn’t earn that amount 😃"

SediBunz shared:

"That time the kitchen doesn’t even have a stove but it’s R15 000 p/m."

idontwanttobealive mentioned:

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"This is why I live with my parents. My mental health is at an all time low and I have zero social life. But I can't afford a decent place in Cape Town 😭"

AmberMackinlay commented:

"Side note, the same apartment I was renting in 2022 for 12.5k is now 25k!"

ziintle said:

"And the mayor sticks his head in the sand and pretends Capetonians aren’t affected."

AmberleeAlexander_ shared:

"It’s seriously ridiculous! I mean with there being so many properties that’s been turned into Airbnb’s. The rental rates will only increase due to it’s scarcity."

Mo posted:

"Pricing out locals. Even the areas close to UCT have gone through the roof."

More Cape Town-based stories from Briefly News

• Briefly News previously reported that a lady received the surprise of her life when her mother and aunt flew to Cape Town to attend her Wesley Guild robing ceremony.
• A man from the UK showed off a side of Cape Town he felt that most influencers wouldn't show on their social media accounts.
• A young woman from Cape Town posted a clip of herself in an emotional state after losing her job.

Source: Briefly News