Can old office space be solution to new rentals in CBD?
Good Morning Cape Town with Lester Kiewit · 20 July 2026 · 8m
Speaker 1: Can you join the conversation. Speaker 2: With you with Cape Talk. We have for some time now talking about affordability of Speaker 2: property, but also rentals, especially if you're a young professional, you're someone who's moving up Speaker 2: in life. You want to live closer to where your work. But yeah, the Cape Speaker 2: Down CBD, it's a thriving place to visit, to work, to invest. By this becoming Speaker 2: increasingly difficult for the people who work in the Cape Town CBD or surrounds to Speaker 2: actually love their young professionals on middle income salaries finding themselves priced out of the Speaker 2: long term rental market despite thousands of apartments in the city center. The numbers help Speaker 2: to explain what's happening. Around seventy percent of the residential units in the Cape Town Speaker 2: CBD are either hotel managed or listed as short term rentals. Across Cape Town, there Speaker 2: are more than twenty six thousand active AIRB and blessings. But if you also look Speaker 2: at the price of a single unit in the city of Cape Down, there's been Speaker 2: some research according to Murray clark Is, the CEO of Neighborhoods, that they are only Speaker 2: eighty five eight five long term rental properties under twelve thousand rand A month available Speaker 2: at any given point. It's an alarming figure. Good morning, Murray, really appreciate your time. Speaker 2: Murray is the CEO of Neighborhood. They're part of the developers who are turning the Speaker 2: Golden Acre into new long term rental accommodation. But that figure only eighty five long Speaker 2: term rental units available under or around twelve thousand Rand a month. What does this Speaker 2: tell you…
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