Why is rent so expensive in Cape Town, and would rent control help?

Detailed summary

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…

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’.

Cape Town property prices have risen about 30% since the end of 2020, well ahead of every other metro, according to Stats SA. The average rent in the city is now about R12,500 a month, up nearly 10% in a year. Even the Freedom Front Plus’s Corné Mulder told us: “Cape Town has become completely unaffordable for everyone.”

But why is housing in Cape Town getting so expensive, and what can be done about it? The Politically Aweh team set out to investigate.

Our host, KG, attended the launch of the Fair Rent Campaign by the Rent Control Group.

Opening of the article, excerpted from Daily Maverick. To read the rest, open the article on the publisher's site.