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 |
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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).