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TPN Vacancy Survey Report Q1 2024

Residential rental vacancies in South Africa have reached historic lows, with the national vacancy rate decreasing to 4.42% in the first quarter of 2024, the lowest level since 2016. This trend is driven by high interest rates making homeownership unattainable for many, leading to increased demand for rental property.  

The TPN Rental Market Strength Index indicates a strong rental market with high demand and balanced supply, particularly in the R12 000 to R25 000 per month rental band. While this is good news for property owners, investors should be cautious of potential tenant defaults due to constrained household budgets.  

Download the full Q1 2024 Vacancy Survey Report for a complete picture of vacancy trends in the current residential rental market.