Last Updated: Sep. 5, 2023
JOHANNESBURG - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
Sandton
Studio	$37,915	$464	14.69%
1-Bedroom	$45,105	$438	11.65%
2-Bedroom	$68,931	$663	11.54%
3-Bedroom	$106,077	$849	9.60%
Johannesburg CBD
1-Bedroom	$22,818	$197	10.36%
2-Bedroom	$34,227	$263	9.22%
Bedfordview
1-Bedroom	$36,084	$478	15.90%
2-Bedroom	$61,025	$531	10.44%
3-Bedroom	$95,464	$1,008	12.67%
Randburg
1-Bedroom	$32,370	$337	12.49%
2-Bedroom	$41,391	$398	11.54%
3-Bedroom	$66,331	$584	10.57%
Johannesburg avg. Rental Yields			11.72%
CAPE TOWN - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
Cape Town City Bowl
Studio	$87,557	$512	7.02%
1-Bedroom	$103,742	$637	7.37%
2-Bedroom	$116,743	$645	6.63%
Atlantic Seaboard
1-Bedroom	$137,969	$796	6.92%
2-Bedroom	$262,672	$1,247	5.70%
3-Bedroom	$504,118	$2,123	5.05%
Southern Suburbs
1-Bedroom	$68,719	$398	6.95%
2-Bedroom	$92,864	$610	7.88%
Milnerton
1-Bedroom	$67,101	$478	8.55%
2-Bedroom	$87,557	$604	8.28%
Bellville
1-Bedroom	$37,410	$371	11.90%
2-Bedroom	$67,340	$451	8.04%
Cape Town avg. Rental Yields			7.52%
DURBAN - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
Umhlanga
1-Bedroom	$67,658	$531	9.42%
2-Bedroom	$127,091	$716	6.76%
3-Bedroom	$212,260	$1,274	7.20%
Durban Central
1-Bedroom	$25,896	$265	12.28%
2-Bedroom	$36,880	$337	10.97%
Amanzimtoti
1-Bedroom	$36,084	$345	11.47%
2-Bedroom	$48,555	$414	10.23%
3-Bedroom	$74,238	$642	10.38%
Pinetown
1-Bedroom	$31,574	$308	11.71%
2-Bedroom	$37,092	$371	12.00%
Durban avg. Rental Yields			10.24%
CENTURION - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
Centurion (all locations)
1-Bedroom	$31,441	$324	12.37%
2-Bedroom	$41,921	$356	10.19%
3-Bedroom	$75,352	$610	9.71%
Centurion avg. Rental Yields			10.76%
KZN SOUTH COAST - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
KZN South Coast (all locations)
1-Bedroom	$29,186	$265	10.90%
2-Bedroom	$42,452	$364	10.29%
3-Bedroom	$63,678	$462	8.71%
KZN South Coast avg. Rental Yields			9.96%
DOLPHIN COAST - Apartments	COST ($)		YIELD (p.a.)
	TO BUY	MONTHLY RENT
Ilembe
1-Bedroom	$58,372	$451	9.27%
2-Bedroom	$91,272	$663	8.72%
3-Bedroom	$155,215	$876	6.77%
Dolphin Coast avg. Rental Yields			8.25%
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

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).