Holiday Rentals This Summer
The holiday rental market, especially along the coast, is expected to have a great summer again. However, most bookings often are during the last three months of the year, with many holidaymakers not getting what they want but having to take what is available.
Locals and Internationals
Although holidaymakers tend to leave bookings a bit late, there is no shortage of eagerness to get away for a holiday. Many also book anyway, wanting to get out of the house and to a lovely coastal holiday house. With international travel open to all, we expect both International and South Africans to flock to holiday destinations this summer. We expect the Western Cape, Garden Route and Eastern Cape to be the regular hot spots. The attraction is endless, and there is no doubt that those who can travel will head to our coastlines and find good value too. The beaches, lifestyle and tourist attractions remain a crucial differentiator for our coastal areas.
We have noted that more and more weekend visitors in and around our village as people look to escape the cities and enjoy the ‘open gates’ after all the restrictions. What is very positive to note is the number of holiday bookings already for December ’22 and January ‘23. A new trend seems to be that our guests have more downtime with extended school holidays and are eager for mini breakaways. 90% of bookings are local South Africans, with only about 10% international, mainly from Europe.
Not Enough Stock
Our biggest frustration is loads of enquiries, but booking confirmations are slow. We expect it will pick up drastically closer to December as people will want to get away, but it seems to take a lot longer to decide and pay the deposits in the winter hibernation months. Also, many Landlords are unsure whether they will rent their home this summer or use it themselves. Many tenants are waiting to book places, but we do not have the confirmed stock. The Canals remain our primary choice destination, second to Cape St Francis and achieve the highest daily rates by a significant margin.
Permanent and Month-To-Month Rentals
The holiday daily rental rates have remained relatively flat with a slight decrease in some rates. The rate for an average three-bedroomed home is around R5000/night, and for a luxury 6-8 bedroomed villa, starting at around R12 500/night up to R25,000 per/night. Permanent and month-to-month rentals are also booming in St Francis Bay and Cape St Francis. Available permanent rental homes are in very short stock, and we place tenants generally within 24 hours after a property has become available.
If you have either a holiday home or permanent home available to let, please do not hesitate to contact either Yolande Stanton on 082 556 5101 or Les Peens on 066 228 1182