The residential rental market is booming in the Northern Cape.
A survey conducted by the South African Institute for Race Relations (IRR) revealed that the province has the fastest-growing monthly rental rates.
The average monthly residential rate is just over R7 000, compared to R4 000 in 2010.
IRR’s Kerwin Lebone says the most plausible reason could be the construction of the Square Kilometre Array (Ska) in the province.
“This is not the case with the Northern Cape, which is why we were surprised by this fast-growth in rentals, and so we tried to explain it by doing an explanation in some of the reasons why this might be so, and the most possible one was the construction of the Ska in the province, and we know that there are a lot of people who are already arriving in the area to help with the construction of the Square Kilometre Array (SKA) and we think that is one of the reasons why rental might be going up at such a vast rate.”
