Cape Town – One in four properties along the Atlantic Seaboard, usually the playground of the rich who are renting and buying property, are standing empty – a direct result of the coronavirus pandemic that has kept overseas visitors and investors away.
The vacancy survey 2020 for Q4 was compiled by TPN Credit Bureau, specialists in property market trends.
TPN Managing Director Michelle Dickens said empirical data was sought to reach these figures. Data is collected monthly from clients, estate agents and landlords. This is then used to establish market trends.
Dickens said the Atlantic Seaboard is battling with a high vacancy rate of 24.44%, and that 60% of…