Lexpress Property Trends Lexpress Property Trends EN Light Version | Page 43

GENERAL ASSESSMENT: PROPERTIES FOR RENT
the main source with a share that has
however decreased in 2018 (37%),
followed by South Africa with a strong
growth since 2015 (from 14% to 25%).
Reunion Island, as third largest source,
is also on the decrease for this period.
Apartments for rent
Regarding apartments for rent, more
than 4,000 listings have been posted
on LexpressProperty.com in 2018.
The number of searches done by
potential clients have exceeded 12
million in 2018. These searches and
potential customers resulted in nearly
8,000 leads, sent through information
request forms.
Listed apartments mainly have 3-
bedrooms (55%), or 2 bedrooms (31%).
Demand is also largely skewed towards
the 3- or 4-bedroom format. A regular
demand of about 16% for 1-bedroom
apartments can be observed, when
supply share is only 7%.
The share of apartments listed with
pool is growing, from 50% in 2014 to
54% in 2018 – mainly communal pools.
Leads are skewed towards apartments
without pools, likely due to rent price:
58% of the leads in 2018 compared to
46% of supply.
Supply of apartments for rent, in
2018, is located predominantly in the
North (41%, +6% vs 2014) followed by
the Centre (29%, -9%) and the West
(28%, +2%). Demand is adjusting to
supply in the last 2 years, with however
a clear peak for the share of leads for
the Centre, compared to what this
region represents in supply.
Regarding apartments listed for rent,
the Top 5 of most represented towns
has Flic en Flac leading comfortably
ahead of Grand Bay, Pereybere, Quatre
Bornes and Tamarin. Demand however
sees Quatre Bornes in 2 nd position and
Beau Bassin 5th, followed by Tamarin.
segment of 3-bedroom apartments.
For 3-bedroom apartments for rent,
the median rent is of Rs 35,000, the
lowest quarter being at less than Rs
25,000 and the highest quarter at
more than Rs 60,000.
France remains the main source of
foreign demand with about one third of
leads. Reunion Island as second largest
source in 2015 has a decreased share
to the benefit of South Africa, 2 nd largest
source in 2018 with 20% of leads.
While the majority of apartments are
listed at less than Rs 40,000 (68% in
2018), their share has decreased in
the last 5 years (78% in 2014), to the
benefit of apartments of more than
Rs 60,000, whose share has increased
from 9% in 2014 to 18% in 2018.
Key Facts :
A noteworthy growth of demand for
apartments between Rs 20,000 and
60,000 (30% in 2014 vs 45% in 2018) can
be observed, despite demand being
mainly skewed towards apartments of
less than Rs 20,000 (49% in 2018).
• Regarding rental, since 2017, the
trend has revered with supply of
apartments being slightly predo-
minant (51% of listings in 2018) as
compared to houses (49%).
• Demand follows similar trends
with 53% of leads in 2018 for apart-
ments and 47% for houses, with a
constant growth for apartments.
Average prices by rental segment
have remained relatively stable over
5 years, with however a slow but
regular growth of the least expensive
segment, and an adjustment, with
a slight decrease of the average rent
for the most expensive segment
since 2016.
The same trend as above can be
observed for average prices by price
• Rental prices are currently mis-
matched to demand which seeks
less expensive rents than that
supplied by the market.
2014 - 2018 : PROPERTIES FOR RENT*
*Assessments conducted on 20,947 listings over 5 years and 52,616 leads emails received during the same period for the same properties
(excluding telephone calls and complementary marketing campaigns on LexpressProperty.com)
BREAKDOWN BY TYPE: HOUSES/APARTMENTS
SUPPLY: LISTINGS
Apartments & Penthouses
Houses & Townhouses
DEMAND: LEAD EMAILS
LEXPRESSPROPERTY TRENDS
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