POLITICALLY AWEH: Why is rent so expensive in Cape Town, and would rent control help?
Rent in Cape Town keeps climbing, and its Airbnbs keep multiplying. Politically Aweh set out to figure out why it’s so expensive, and spoke to the Rent Control Group. Deputy Mayor Eddie Andrews, meanwhile, says there’s ‘no chance’ of rent control — ‘market goes where market goes’.
The cost of rent in Cape Town continues to soar, accompanied by a surge in Airbnb listings. The Fair Rent Campaign, initiated by the Rent Control Group, aims to shed light on the reasons behind this escalating expense. Deputy Mayor Eddie Andrews firmly asserts that rent control is not a feasible solution, maintaining that the market dictates the course.
Since the end of 2020, property prices have surged by approximately 30%, with the average monthly rent reaching around R12,500, a nearly 10% increase year-on-year. Cape Town's housing market has become increasingly unaffordable, with even Freedom Front Plus's Corné Mulder expressing concerns over the city's unaffordability. To address this issue, the Rent Control Group proposes targeted rent control measures, advocating for regulation rather than freezing rental costs, implementing affordable housing policies, and encouraging the national government to enforce a rental law.
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