How Much Does Rent Cost In South Africa
According to the latest PayProp Rental Index, the national average rental in South Africa for the first quarter of 2024 was R7 786. However, average rentals vary widely from one province to another – from a low of just R5 222 in North West to a high of R9 171 in the Western Cape.
How much is rent per month in South Africa?
Rental costs in South Africa
Monthly rent for a one-bedroom apartment in the middle of Johannesburg can cost R4,000 to R11,000. Meanwhile, a suburban flat will cost you under R8,000 a month.
How much should you spend on rent South Africa?
According to experts, the figure to consider spending on rent is no more than 30% of a monthly takeaway income. This means after-tax, after regular monthly commitments, and after any deductions.
How much do houses cost in South Africa?
For the year to date, Lightstone statistics also reveal that 79% of sales comprised homes under R3 million and over half (53%) under R1.
This is how much the average house costs in South Africa.
| # | AVERAGE HOUSE PRICE | PRICE |
|---|---|---|
| 1 | Major Metro Areas | R1 213 493 |
| 2 | Upper Income Area | R2 641 917 |
| 3 | Middle Income Area | R1 396 396 |
| 4 | Lower Income Area | R868,887 |
How much do you need to earn to live comfortably in South Africa?
If you currently earn R15,000 per month and apply the 80% rule, you will need at least R12,000 per month after retirement to maintain your current living standard.
How much does a 4 bedroom house cost in South Africa?
Average price by major full title segment
| Q4 2024 | ||
|---|---|---|
| Full Title Average Price | R1 093 590 | R1 207 773 |
| 2 Bedrooms and fewer | R601 037 | R667 811 |
| 3 Bedrooms | R1 107 127 | R1 226 782 |
| 4 Bedrooms and more | R1 724 817 | R1 860 795 |