ACQUIRING
Investing in residential rentals
The new era for Eastern Cape investors
Since the beginning of covid , it has been quite a scary period for the property industry . The commercial industry has suffered greatly as businesses transformed their standard office set up to remote working setup . Some commercial property owners converted their properties into residences , boosting the residential property sector even further during this difficult time . This means there ’ s still room for young investors to take chance at the residential property sector .
Despite the challenges brought about by the pandemic coronavirus , The Trust for Urba Housing Finance ( TUHF ), Eastern Cape regional team has highlighted the differences in the nodes of East London and Gqeberha ( formally Port Elizabeth ) and how there are still opportunities in these nodes for investors to capitalise on .
Despite the geographical difference between the two cities , the contrast in the residential rental property market could not be more significant . The areas these cities cover create a multi-polar economic situation that is shaping the future of development in the province .
When looking at East London , TUHF portfolio manager for the Eastern Cape , Letlatsa Lekhelebana says In the pre-pandemic days , East London has had a very active retail economy .
“ This is hardly surprising given that this city has three levels of government based there namely the
26 JULY 2021 SA Real Estate Investor Magazine