February 19, 2017
A shortage in Cape Town rental properties has allowed landlords to increase rent by double-digit percentages, the Sunday Times reported. The reason for the shortage is that more investors are renting out their properties in the City Bowl and the surrounding area for shorter stays, using the online hospitality platform Airbnb. PayProp CEO Louw Liebenberg told the newspaper that the growth of Airbnb and the promise of higher returns has motivated owners to remove their properties from the long-term rental market…
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