A booming township property market has the potential to reinvigorate the economy, and is providing property entrepreneurs with vast opportunities to succeed, especially in the township rental market.
The size of the approximate R1 billion informal back room rental market across South Africa’s townships stands at about five to eight million rooms and is growing every year as the rental market bounces back after a Covid–induced slump.
It’s hard to get exact figures, given the informal nature of the business but those numbers are about as close as you will get, says Modicai Mnculwan, the owner of RoomKing.co.za, a new online platform that seeks to formalise the market by connecting landlords and tenants in
