Gross rental yields in South Africa: Cape Town and 5 other cities

The average gross rental yield in South Africa stands at 10.15% (Q1, 2024). Previously, in Q3, 2023 the average gross rental yield stood at 9.69%.

  • Johannesburg
  • Cape Town
  • Durban
  • Centurion
  • KZN South Coast
  • Dolphin Coast
  Last Updated: Mar. 21, 2024
JOHANNESBURG - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Sandton  
Studio $33,938 $481 17.01%
1-Bedroom $44,627 $454 12.21%
2-Bedroom $66,807 $695 12.48%
3-Bedroom $104,721 $909 10.42%
4+Bedroom $303,280 $1,844 7.30%
Johannesburg CBD  
1-Bedroom $18,706 $189 12.12%
2-Bedroom $34,472 $262 9.12%
Bedfordview  
1-Bedroom $39,550 $454 13.77%
2-Bedroom $64,135 $615 11.51%
3-Bedroom $101,414 $962 11.38%
Randburg      
1-Bedroom $33,136 $324 11.73%
2-Bedroom $41,420 $417 12.08%
3-Bedroom $69,426 $615 10.63%
Johannesburg avg. Rental Yields 11.67%
CAPE TOWN - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Cape Town City Bowl  
1-Bedroom $100,265 $639 7.65%
2-Bedroom $114,512 $799 8.37%
3-Bedroom $211,582 $1,491 8.46%
Atlantic Seaboard  
2-Bedroom $266,308 $1,358 6.12%
3-Bedroom $505,986 $3,195 7.58%
Southern Suburbs  
1-Bedroom $70,571 $426 7.24%
2-Bedroom $93,207 $506 6.51%
Milnerton  
1-Bedroom $74,433 $479 7.72%
2-Bedroom $85,218 $692 9.74%
Bellville  
1-Bedroom $41,544 $346 9.99%
2-Bedroom $66,577 $415 7.48%
Cape Town avg. Rental Yields 7.90%
DURBAN - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Umhlanga  
1-Bedroom $68,973 $506 8.80%
2-Bedroom $125,164 $719 6.89%
3-Bedroom $212,647 $1,225 6.91%
Durban Central  
1-Bedroom $24,234 $267 13.22%
2-Bedroom $37,256 $355 11.43%
Amanzimtoti  
1-Bedroom $34,886 $320 11.01%
2-Bedroom $47,669 $453 11.40%
3-Bedroom $79,892 $639 9.60%
Pinetown  
1-Bedroom $31,690 $309 11.70%
2-Bedroom $39,413 $394 12.00%
Durban avg. Rental Yields 10.30%
CENTURION - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Centurion (all locations)  
1-Bedroom $30,891 $328 12.74%
2-Bedroom $42,343 $383 10.85%
3-Bedroom $67,908 $651 11.50%
Centurion avg. Rental Yields 11.70%
KZN SOUTH COAST - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
KZN South Coast (all locations)  
1-Bedroom $29,293 $250 10.24%
2-Bedroom $42,609 $415 11.69%
3-Bedroom $63,860 $586 11.01%
KZN South Coast avg. Rental Yields 10.98%
DOLPHIN COAST - Apartments COST ($) YIELD (p.a.)
TO BUY MONTHLY RENT
Ilembe  
1-Bedroom $58,587 $479 9.81%
2-Bedroom $89,213 $639 8.60%
3-Bedroom $158,054 $879 6.67%
Dolphin Coast avg. Rental Yields 8.36%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide and Gumtree
South Africa´s Historic Rental Yield Data

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in South Africa. We used the local real estate listing website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is $500 and the purchase price is $100,000, the calculation would be: $500 (Monthly Rent) x 12 / $100,000 (Purchase Price) = 6% (Gross Rental Yield).