South Africa

South Africans Hope To Rent Out Their Rental Properties During 2010

South African residents are holding onto rental property in the hopes of benefiting during the 2010 World Cup...

Nov 9, 2009 6:55:02 AM

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Owners are keeping their investment properties empty until the World Cup soccer tournament in 2010 said Seef Properties, a real estate company operating throughout South Africa.

"I am increasingly being asked by owners to withhold their investment property to ensure availability during the World Cup," Jules Arnott of Seef Properties said in a press statement, according to Sapa.

Arnott said that Match, the FIFA-endorsed ticketing and accommodation booking agents for VIPs, sponsors and media to the World Cup, did not cater for the marketing of non-graded residential accommodation for the average fan.

He said there was "a huge demand" for beds predicted (65,000 in some cities on peak nights), especially in central areas such as those with easy access to the Greenpoint stadium in Cape Town.

"It would certainly make sense to market your property for rent during the football World Cup," Arnott said.

"It's a once in a lifetime opportunity and excluding peak holiday seasons when we accommodate our regular clients visiting from overseas and paying on favourable currency rates, most home owners will not see rental amounts like this being achieved, even in peak holiday seasons."

He said last month a home in Camps Bay had been listed that would be let out for R90 000 per day.

Peter Pedroncelli, Goal.com