Many millennials and Gen Z are choosing to purchase in more affordable regions, with the intention of renting those properties out for income.
South Africa’s property market is experiencing a noticeable shift, which does not follow traditional routes.
Owning a home no longer necessarily means living in it, says Regard Budler, CEO of BetterSure. He says that increasingly, millennials and Gen Z are renting in areas that suit their lifestyle while buying property elsewhere as investment opportunities.
“This approach, often referred to as the ‘rentvestor’ approach, reflects a younger generation that is thinking more flexibly about money, mobility, and long-term security.
"With affordability challenges in major urban centres such as Sandton, Cape Town and Pretoria, younger buyers are choosing exactly which suburbs they want to live in, but also using homeownership as a source of income in other areas. The rentvestor approach essentially helps pay off a dream home,” Budler says.
