It’s going to be a summer to remember. Short-term rentals in Cape Town are booming as tourists arrive seeking a beautiful holiday and local families decide to semigrate. In the wake of the Covid-19 pandemic, travellers plan to make up for lost time and take advantage of the city’s beautiful holiday rentals while enjoying the gorgeous scenery.
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Ciska De Vries, the short-term rental Property Practitioner for Seeff Hermanus, reports an astounding 77.55% increase in Cape Town holiday rentals bookings in 2021. This unprecedented jump in bookings has continued in 2022; weekends are double booked, and school holidays and long weekends are now completely sold out. Sought-after Atlantic Seaboard properties are certainly experiencing the effects of this spike in demand.
Booking.com reveals that daily rental rates range from R1,000 to R18,000, depending on the property type and location. Cape Town is known for its desirable sites, like Clifton Beach or Signal Hill, and these offer the most sought-after locations, with prices ranging from R3,500 to R5,500 per day.
The prices of more luxurious properties, such as villas, range between R8,000 to R18,000 per day.
Seeff predicts that bookings will continue to increase until the end of 2023 as tourists make early reservations en masse. The average duration of stay generally ranges between two to three weeks. However, there are also three-six month commitments from people seeking extended holidays or temporary houses while shopping for a permanent residence.
However, not all short-term rentals in Cape Town are created equal. In some areas, holiday rentals are either flat or declining. To make the most of this summer tourist surge and short-term rental boom, buyers should consult an experienced Property Practitioner to achieve the best property deal.
If you’re a landlord, let Seeff help you capitalise on the boom of short-term rentals in Cape Town and make a wise property investment. Ever considered investing in an Airbnb? It might be the perfect choice for you. For tourists in pursuit of a dreamy short-term stay in Cape Town, browse these holiday properties.