How Airbnb has made renting in Cape Town even more pricey

Lack of affordable accommodation in Cape Town is an ongoing issue and may be intensified by the rise of online hospitality company Airbnb.

Property management firm PayProp says Airbnb has driven down rental availability and driven up rental prices in the CBD.

Owners are renting out their properties in the City Bowl and the surrounding area for shorter stays, explains PayProp CEO Louw Liebenberg.

He says long-term property stock prices are pushed up due to the quick returns from short-term rentals.

People are putting up their accommodation for rent on Airbnb for short-term rentals with the expectation that they will get higher income.

Louw Liebenberg, PayProp CEO

Liebenberg advises that the effects of Airbnb are most evident in the Mother City and other coastal towns.

He says Airbnb has caused competition for property to become even more intense in the province.

According to Liebenberg, the high demand and costs of rental property has affected the R15,000+ per month bracket the most.

Take a listen to his analysis:

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Local estate owners want govt to buy them out of illegally occupied land

Local estate owners want govt to buy them out of illegally occupied land

The private land was illegally occupied in Philippi East and property owners want courts to compel government to buy them out.

Local tourism bucking the world Airbnb trend

Local tourism bucking the world Airbnb trend

Most countries are banning Airbnb but it seems to be doing well in SA. Alan Winde says the world can learn from us in this regard.

CT and Jhb make property luxury list for the very wealthy

CT and Jhb make property luxury list for the very wealthy

Cape Town has become a hot destination for the wealthy as property prices become unattainable for average people.

Household chores that listeners really can't stand (or can't live without)

Household chores that listeners really can't stand (or can't live without)

Domesticity not your thing? Imagine a life free of grocery lists or dirty pots and pans... If only.

Why you should read the fine print before renting a car

Why you should read the fine print before renting a car

There's very little indemnity when it comes to hired cars. Consumer journalist Wendy Knowler shares tips on how to cover yourself.

South Africans are buying smaller houses - research

South Africans are buying smaller houses - research

Most South African property buyers are feeling the pinch and opting for smaller houses rather than big luxury homes.

Demand for water-wise properties is skyrocketing

Demand for water-wise properties is skyrocketing

Head of Gumtree Property says drought conditions increasing demand for properties with boreholes, no lawns, and small gardens.

City making rental stocks safer with social housing unit

City making rental stocks safer with social housing unit

Crime, drugs and gangsterism in City-owned rental stock areas have been the focus of the unit, which will see more investment.

Improve your Life: Knowing your rights regarding property rentals

Improve your Life: Knowing your rights regarding property rentals

Experts in property rentals offer advise on rights and responsibilities of both the landlord and tenant on The Pippa Hudson Show.

The Sharing Economy has a discrimination problem, who will fix it?

The Sharing Economy has a discrimination problem, who will fix it?

A study found that black Airbnb hosts get less for a similar property than white hosts. Some can't get a booking because of race.

Trends that are shaping African tourism (according to Airbnb)

Trends that are shaping African tourism (according to Airbnb)

The “sharing economy” and other trends will be discussed this week at the World Travel Market Africa conference in Cape Town.

60% of top end Atlantic Seaboard property buyers are Capetonians

60% of top end Atlantic Seaboard property buyers are Capetonians

Atlantic Seaboard property doesn't come cheap, but Capetonians are still dominating the top end market of the local real estate.

Why more Joburgers are flocking to buy property in Cape Town

Why more Joburgers are flocking to buy property in Cape Town

According to Pam Golding Properties, up to 40% of property buyers on the Cape's Atlantic Seaboard at the moment are from Gauteng.

Popular articles
LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

AfriForum will prosecute Duduzane Zuma after NPA declined to do so in 2015 following a 2014 accident where a woman died.

How we invented the modern concept of sleep

How we invented the modern concept of sleep

Dr Bodhisattva Kar reveals how industrial capitalism influenced the world's current sleep patterns.

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

The Money Show’s Bruce Whitfield interviews Adams about his attitude to money (hopes and fears, successes and failures, etc.).

Kloof Street residents living in fear as crime multiplies

Kloof Street residents living in fear as crime multiplies

A Cape Town man was stabbed to death on Saturday while trying to assist two women who were being mugged on Kloof street.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.