@ossidiianink i hope you can help your locals, because in Knysna and Plett the municipality is pathetic. Airbnb just needs to be slowed down and business should not be renting out multiple properties.
News was never designed to be charismatic. It's all about facts without opinion or sensation otherwise it's called propoganda or an opinion piece. This shows how this industry is failing the public, in my opinion.
Thank you Dan and eNCA for allowing this type of information to be relayed to the people! This type of show is exactly what we need, bringing the truth with a bit of humour. Please keep this going strong and keep informing the people!!!
I had a nice home I was renting in bo-kaap in 2022, the landlord told me that he will let me move to the roof top apartment at the end of the month and that he will draw up the agreement closer to the time, 1 week before moving upstairs, the landord told me that he is cancelling the agreement due to the fact he wants to airBnB the place, then told me I had 1 week to move out as I don't have a lease agreement anymore, I have 2 dogs and it was really difficult to find a place.
You had a cushy rental deal, not a nice home. If you did, you would have bought it in stead of renting. In 2022 nobody could chase you out of your home if it was yours. If the landlord wanted your rental property for his child, you would have been out of there, just as hard.
@@ossidiianink he will most probably not be able to afford a rental in Cape Town anymore. Unless if you give him a micro apartment, which is 100 times worse than where he stays now, plus a commute to work every day...
Every newly bought house has been turned into an Airbnb in Bokaap, by overseas foreigners. Exactly what the DA aims for to turn Bokaap into another De Waterkant. There's no principle or ethics involved to keep the area as cultural heritage since its inception in the 1700's.
A few years ago I got an offer to work for a firm in Cape Town. They were going to pay R15K and decent apartments were R11K and above. Unfortunately, I didn't take offer.
@@mindfulness4603 It's the estate agents chasing up prices. There's no regulation to question it. Its time that we the people take it up with Govt. How does one explain that in the 90's, one could buy a property in Camps Bay for approx R1.2mil and now its R25mil or Clifton R100mil. Why are the estate agents given carte blanche. Our food and meds follows. No control.
@@jbnacive3390 You need to earn minimum R40k to rent a decent apartment in CT if you're lucky. Nothing under R15 000pm. It's a train wreck. When do you save to buy one starting at R2.5mil.
Our family were living in a wonderful rental in Camps Bay for 3 years. The owner gave us a 3 month warning that the rent was going to TRIPLE, so we had to move out. They have converted our house into a airbnb lodging house. It looks terrible now. 17 Rontree Avenue Camps Bay
Dan, you're tackling a sore point with locals. Thank you. Airbnb are also owned by many overseas 'investors', but the money doesn't stay in South Africa. Some dont even pay levies. Any young graduate who earns a good income would opt to buy a nice property for stability, but there is NOTHING to keep them here, so they jump ship and offer their skills overseas. The engine of our society. But then, point me in the direction of a clever politician. They're all shortsighted and self absorbed. I know many professionals aged mid 30's who cannot afford a starter home in a good area, especially so where they grew up. The greedy landlords start @R15 000plus per month for a one befroom in the City, relative to the massive increase in property prices , starting at R2.5mil. There was a time when in certain fairly upend areas, a village section were designated for the young or elderly scaling down. There were rent controlled areas and or buildings too. Not with this Govt. Everything everywhere across the board prices are sky high. The same apply to old heritage areas where people are forced out of their homes due to higher rates and electricity bills. It is a shocking state of affairs and downright despicable for Govt to make more about the often tacky tourists, sharing a coke and cake bought at a supermarket and eating it at a restaurant where the manager had to intervene, than the hardworking SAfrican contributing in more ways than one to the economy. The property developers these days have carte blanche, there's no guideline or height restriction. It's shocking what politicians have been reduced to when greed rules. They DO NOT look after the people first. Airbnb has been limited in NZ, Spain and other countries too.
Any young and smart graduate with a decent income would be smart to NOT buy property, not in SA. I too would leave and it would mainly be due to safety, not the price of rent or buying....
I know highly educated late 30's, who wont go overseas. The West is failing too. Many run to the MEast, 100% safe, no tax, no interest rates, free schooling and healthcare.
As a POC who grew up on the Cape Flats and now own an Air-Bnb in Cape Town cbd, I have to say that Air-Bnb has been a gamechanger for individuals like me. People who did not grow up with money. Though initially tough, I invested in a small apartment in the city which paid itself off basically and which has now enabled me to purchase my second investment property. That said however, I do agree that the industry needs to be regulated. A huge percentage of AirBnb's are owned by the same, wealthy Capetonians.
@MusehanaH thank you for the compliment. As I mentioned, without Air-Bnb carrying some of the cost, the other being my salary I, and others like me would likely not be able to have access to markets or properties in Cape Town's more affluent areas such as the CBD and ASB. It has helped make a number of "average" individuals, entrepreneurs. Which I suppose is the ideal.
DA would gladly sell the whole of Cape Town to foreign investors if. given chance, privatizing the whole city would make the people more happier is what they would say.😅😅😅
They dont have to be wealthy. The manipulated bankrupt ditched Petrodollar and Euro makes it affordable to them. All fake and arrogance calling it economic names. America is finish with an $8trillion deficit, England can hardly keep its healthcare afloat, what makes their currencies better.
The city should ban developers from building micro studio apartments. The city is exacerbating the housing issue by allowing developers to build these tiny apartments specifically for AirBnB use, but then pass them off as "affordable housing." Let's be real, micro apartments are not affordable housing allocations. They are AirBnB allocations. Second, third, or fourth, etc., properties destinined for profit making.
I have lived 25km away from the CBD for 30 years. There are plenty jobs outside of the CBD. Almost nobody lives walking distance from their work. Be realistic. People have been buying property for investment purposes for centuries. All these arguments are non sensical.
@@fiqhonomics but why? All my retirement income comes from property. Would you rather I sell it and invest it in Sanlam, Old Mutual and Liberty so they can buy the same properties and have it run by a property consortium? If you save for your retirement, where do you think that money gets invested? Thin air? It is real businesses, real property. Most owners of RA's and the like have no idea where their money is invested, but the idiots on the ground wants profit share in the companies they work for, even though they have not invested a cent themselves. Idiots like the guy who I am addressing, who just wants freebies. Go away and learn how the world works first, before you open your trap again...
@@mwdejagerwe don’t need to live in the city centre or near it, listening is a skill.. As we work and play in the WC we need fair playing field TO SURVIVE..
SA must do like Japan. It’s extremely difficult to own an Airbnb or an Uber in Japan. The country has locally owned hotels and e-hailing systems and they support economic growth. This protects locals and preserves the local aesthetics of the city. No foreign looking thing to give you a foreign experience when you want to really see a country for what it is.
GOLD🏆. Exactly. Germany doesn't have Airbnb I've heard. Many are reducing it. Why not use a legal hotel or guesthouse. But both Govts probably own Airbnb in their private capacity, so wont stop it otherwise why the racket.
The logic of Air BNB is that it attracts a large number of visitors,[none-business class type] to a city at cheaper rates, but the main beneficiaries are big businesses like Sixty Sixty deliveries + Car rental agents. Also ''word of mouth'' recommendations when these tourists go back to their countries, tend to attract more visitors in return.
Well if you really want to protect the locals and the aesthetics of Cape Town, then you will also support measures to keep South Africans not born in the city from migrating there. Because they're actually the bigger cause of the city's current overpopulation.
I am a rental agent. There is just no properties to help families. The Airbnb is causing issies in apartment blocks. I dnt like government interferance but Cape Town is a problem
Government interference is necessary because capitalism is inherently oppressive. The business model of Uber and Air BNB is based on undercutting prices until existing businesses tank which is completely immoral.
I think It is all about risk vs return, there is just too much risk now adays with having a long term renter who is unable to pay their rent, usually for unforeseeable circumstances, and then taking months to get out of the property.
After renting a room out to a local privately, who short paid, became obnoxious, lied and stole a remote control will never rent out like that again. Went on Airbnb since. Will never rent out directly ever again.
This is definitely a conversation that needs to be highlighted. Tourism is important, but it needs to be managed better and should not come at the cost of local residents. As much as I dislike increased regulation, something needs to be done to address these issues. Perhaps we can learn from other cities that are experiencing the same problems and how they are addressing them, such as Barcelona and Palma de Mallorca. We should also ask ourselves whether our economy is too focused and reliant on tourism.
@@WorldPeace786-j3f YES!! Talk with your friends & family about this ... And spread awareness! Many of us are working our asses off year-after-year .. and are STILL suffering financially. We honestly don't see any light at the end of a tunnel. It's wild out here and we needa do something! Something needs to happen! If I receive another 8% increase (which I had to work really hard to negotiate) on top of my previous 3 8-10% increases.. I dunno what I am gna do.. I have been fully employed for 8 years and I still stay in a very modest 1 bedroom apartment outside of CPT! It's crazy!
Let's include poorly regulated rental and housing market, no rent control measures, out of control rental agencies etc. People benefitting from the status quo will just repeat "it's the free market" or "supply and demand".
@mwdejager he doesn't need luck to buy a house to live in and not pursue real estate. Some people are ok with not chasing money and living a simple life.
@@bakedpotato420 that is 100% true. I know people older than me with no "real" pension and no property on their name - they will rent till they die - good luck with that too. I have dismal pension saved up due to many job changes over the years, retrenchments and the like eats into your plans too. My properties are my retirement fund. What do you suggest that I do, to make it easier for the millennials? Sell it all and invest in an RA, so Sanlam, Old Mutual and Libetry can buy property with the same money? Stop hating the investors. They are ordinary people saving for their retirement.
The problem with rentals is that the law protects people who fail to pay rent . Often tenants stop paying rent and you cant evict them for years and many court processes involved . All to protect the bad guy . Who looks after the landlord . Nobody wants to rent to tenants and who can blame landlords ? The law protecting defaulting tenants is causing the fact that home owners prefer to rent via airbnb .
@garyyoung6125 that's one of the perks if airbnb, if you choose your tourist they will Def pay and leave. That's why I don't want to lease out long term
Thanks for your comment. All the naysayers here just want a cheap ride, but have no idea what it takes to be a landlord - some tenants can and will bankrupt you, as they are better protected than the landlord.
@@fiqhonomics The Democratic Alliance are the only ones that do their job properly. I also doubt the wealthy, corrupt people in the ANC are funding the DA.
This has become a genuinely serious issue for Cape Tonians in recent years. The price of entertainment and cost of living is borderline unsustainable for the average local
Limits need to be set, thank you for taking the time to make this video! I am also very wary of air b n b's standards - we went to stay at a superhost air b n b last weekend - and it was full of mould we struggled to sleep and this is not the first time this has happened to us with air bnb I think for us it will be hotels and guesthouses only going forward!
Thanks Dan for bringing some great humor and light. I think why most landlords want to rent their properties via airbnb, because they guaranteed to get their money and are protected. Where as renting out a property to a tenant, the tenant is protected if they default on their rental commitment. And if the property is bonded, banks come for their properties. A regulation needs to be passed to protect landlords as well 😊
Yours is the most underrated and under reported point. Being a traditional landlord, way too often turns into a nightmare. Why would a property owner take the risk of losing money when they have a better option.
Sure AirBnB has some impact however house prices in the cape are driven up mostly by ‘semigration’ from other provinces and short term letting for students. Supply and demand. Just look at the huge amount of estate developments in the winelands at stupid prices. At the inflated prices in the Cape return on Airbnb is a bad investment. Over the winter there are hardly any tourist, local or international. The competition also increased on AirBnb, getting enough CONSISTENT rental income to cover bond, levies, etc does not come close to covering these cost.
I feel like they don't want to talk about this aspect because they can't put a racism spin on it. I've also noticed from some other videos that this journalist likes to bash the party that has the majority in the Cape Town local government.
Airbnb only works when it’s a spare room in a normal house hold. We in the Guesthouse industry have seen the economic effects of airbnb indirectly destroying several local businesses and some residential apartments. More regulation of these platforms is needed.
@@loganmedia1142 I agree with you, there should be cheaper options, but the way airbnb is doing it is not right. They are indirectly destroying the local economy. We've seen the effects of this in our industry.
I'm still trying to figure out why anyone likes cape town. It's so overrated. Terrible weather. Cold beaches. Capetonians make their whole personality about a mountain and ice cold beaches. It really isn't that nice. There's way better beaches and scenery in other parts of the western cape that isn't Cape Town.
@@doomnoises The problem is they only see the touristy parts they want them to see. The illusion. The stuff for the wealthy. But behind all that, it really isn't that great especially not for the locals. It's like people who visit overseas for a short period of time and say they suddenly want to live there... Like no... LIVING somewhere versus VISITING somewhere will give 2 totally different views. Cape Town has managed to fool people for quite long now with the tourist stuff.
Because it has nice weather. Hot part of the year for those who like the heat. Storms in winter for those who enjoy the rain. The mountain provides a nice view and has numerous walks of all difficulty levels. I don't think there are any other cities in the Western Cape, never mind ones that are better. In fact if someone wants to live in a coastal city the options in South Africa are very limited.
I figured this was happening when I looked up accommodations on my cape town visit, and saw how many properties were offered on airbnb, and more importantly, how difficult it was to find a “host” who isn’t somehow offering multiple properties on airbnb - that’s a red flag for me that these aren’t just apartments a local happens to not be living in at the moment. don’t worry guys, in the cape i’ve stayed only in b&bs and hotels 😉 ❤from malaysia p.s. main reason why travellers like airbnb are those travelling as a family, for access to a kitchen (or at least microwave) and a washing machine. i was in a bo kaap b&b that has kitchen access and that place is a much better competition to an airbnb than a swank conventional hotel. you just wanna be able to heat up some leftovers, and cook sometimes if you want to be there for longer than like a few days’ holiday. i’m beginning to see some hotels renovating to offer apartment rooms (ie with kitchenette) and that’s the way to go if you want to claw tourists off of airbnb.
You know everyone begging for government regulation. Ask Americans and Australians what it’s like living in these nanny states. Every single business is regulated. Including making meals or baking bread for people. You need to have a licence. This makes it very difficult for people who are struggling to get out of poverty. Enjoy your freedom you don’t know what you have here. 🇿🇦
@@sabathaboyana9742 it’s overly dramatised. With any industry there are pros and cons, I think the pros for citizens far out way the cons. But eventually they probably will regulate it. But in my opinion the more the government stays out of private businesses the better.
@@shannoncorreia1386 What are Pros of gentrification?....From my point of view if it remains unregulated,Land Owners and Tourists are the ones who will benefit.
I can only laugh if you think the US is a nanny state. Well if people could be trusted to make food to high hygienic standards then we wouldn't need regulation of things like restaurants. Those regulations came into existence because businesses will cut any corners they can.
Home Affairs under ANC minister had a backlog of visa applications going back nearly a decade. I’ve been waiting 7 years and counting for mine. The new DA minister has had a third of the backlog cleared in a MONTH. Let that sink in… imagine if more of the cabinet had those same work ethics and political will?…
Let's hope the DA keep up looking after the city of Cape Town infrastructure and not start destroying our property investments. I am already seeing a decay in services like roads, failing water pipes and sewage infrastructure dumping in the sea. I do a lot of cycling and the roads are crumbling with pot holes all over the the place including affluent suburbs like Newlands, Bishopscourt and Constantia. This has cost me many bike tires. The section of M3 south bound was completely resurfaces only a few years ago and is now full of pot holes. I feel like painting around the potholes in neon orange paint, "Compliments of the DA" to compel them to fix. I hope there are not dodgy tenders where work is not done properly but with huge payouts. I hope the DA do not go the way of corrupt ANC.
Well maybe you should just watch where you're going. There aren't enough potholes for you to regularly destroy tires. Overall though the management in Cape Town do a very good job of maintenance and proactive repairs. Of course I've heard residents then complaining about interruptions because maintenance has to be done. I've asked some people who regularly use the M3 and they say they have not encountered potholes all over the road. So what are the exact locations of those potholes?
What's the internal migration like in Spain? Because in South Africa the majority of those moving to Cape Town are South Africans. That migration, even if Airbnb did not exist, would be causing a major housing shortage. Airbnb is literally about 3% of properties. More people move to Cape Town from elsewhere in South Africa every year.
Come on, man, this is so one-sided. Shameful you stayed in our Airbnb a while ago, Dan. A simple mom-and-pop business. What is wrong with digital nomads? At least the current government of Cape Town is still at least a little free market. It seems from watching this that you are now no longer interested in supporting 1000,s of small mom-and-pops who use Airbnb to make an income and contribute to the economy.
I'm living in Cape Town, and what you get in your "better" areas are insane... and what is being shared here is completely true and needs to be stopped. And the DA leading us here is not helping
This is true. Airbnb owners in Cape Town outbid locals when buying properties and those houses end up being empty during most of the year while locals cannot afford housing due to the ongoing price hikes.
At the moment the risk involved in having a long term tenant renting a property is more than the returns you get from renting it. Maybe if government made it easier to get rid of non-paying tenants property owners would be more inclined to take longer term tenants.
The local government cares. That's why they're on a massive densification drive, to provide more housing. The ANC government does not care that their mismanagement is driving people to move to Cape Town. Too many people, and they're making it another congested hellhole.
i lived in the CDB for 8 years in the nicest apartment and the rent was already pretty bad but i cant even dream of moving back now because i'd have to live in like Plumstead or something :(
So glad this is being spoken about in serious and public platforms with trails of proof to show how ordinary people are being screwed over. I hope this makes a difference 🙏🏽 Loved this show, so glad I found it. It felt like watching Last Week tonight but for SA which is more important and valuable news and learning to be ❤
Its a double edge when the rand went from r10 to r20 in 10 years. Meaning overseas buyers are getting a 50%discount. But anyways ill still buy a small flat for my own holiday use and airbnb in busy seasons.
Cape Town has def earned it - yes it is beautiful but it has been run much better for many years in a row (by the DA) than the rest of the country (by mostly the ANC Muppets). I say that as a Eastern Cape resident. So if you look at all of the Top Tier Cities in the world (London, Miami, LA, Paris) they are also becoming super unaffordable and get lots of tourists. So you should not call out the DA for absolutely nailing it in Cape Town (and the entire greater Western Cape area), you should call out all other parties (mainly the ANC) in other cities to finally pull their socks up, so that the tourism, money, jobs and investment could flow more evenly into South Africa as a whole (then the entire problem of over-concentration in Cape Town will go away. Stop posting sensationalist bull-shit, you are not helping anyone by attacking the only large city and one of the few political parties in SA that actually remotely function and do well. Be a patriot papa.
Most blocks of flats do not allow short term letting. The escalation of rental value has nothing to do with AirBnB and the like - its inflation and growing demand for accommodation in Cape Town.
We are recently looking for an Apartment in Cape Town the pricing is crazy, and the deposit is 2times your rent price. Like WTF!! And when you take a look what they offer is really funny😂😂...
I'm a student and I live in a digs. Even the digs are paid twice your rent in deposit because apparently no one wants to pay for December. Oh and what a shocker! Like what student wants to be back home with their family while paying for the landlord's vacation in December way after they've left? It's crazy.
What about all the semigration happening. The amount of South africans escaping failing metros to come to Cape Town. Surely this also drives the property prices and rental market up ? And not just in the more "desirable" areas.
People with property see this as an opportunity to create an additional income since we, and the rest of the world, have a cost of living prices. The problem now, all these buildings are now being upgraded and kept up, this increases the property value and makes it extremely difficult for the new generation to afford to buy housing.
The golden rule of capitalism is finding a way to live off someone else's labour, e.g. landlording and "fixed income" investments that are converted into loans to working people.
I don't think that a property/area being upgraded and thereby increasing in value, is a negative thing for society in general. Tourism is a large job creator worldwide.
@@humansolarian free to buy, is not he same as free of charge. Sadly South Africans seem to think that the country owes them, i.e. they want everything for free. Not even close to the same thing. They say education should be free too. Well it is for the most part. Just remember that you get what you pay for - if it is free, it is usually not of much value.
It's safer for some landlords to just do short term rentals, because the law is too much on the tenant's side. A tenant can just not pay rent, and stay for as long as they like. Easily costing the landlord 100k in legal fees and lost rent until an eviction order is maybe granted. Both sides need protecting.
Tourism is a very low hanging fruit for lifting the economy, but you can only lift it by a few percentage points at best. What it does do is make some impressive short term figures.
Renting in Cape Town is a joke. I have had so much fear when I have to move out of a place because finding a reasonable liveable place for a fair price is so traumatic
Could 1 person 1 home in an urban/designated type of area be a solution? Force the tourists to use hotels in urban areas and airbnb/local guesthouses in designated tourist areas.
You must also discuss the crazy increase in levies and how that is boosting the public funds to increase infrastructure and other public works. Also, Patricia de Lille is not part of the DA anymore. The tax base is also increased and the national government gets more money from the increased prices. Properties surrounding the airbnbs also increase by an insane amount. So the downside affects first time homeowners and renters. The tourism industry is the easiest way to increase jobs in SA, hence targeting foreigners to come to CPT.
There are management companies that host upwards of 100 airbnb units which are owned by MANY different property owners. I'd be curious to know the real stats on the most airbnb units owned by an individual [or individually owned company] in cape town.
@@zingisamajikija2804 if rent is troubling you, go buy a property there and see if you can resist letting it, rather than staying in a property worth 15k per month in rental money...
We used to live in the Atlantic Seaboard. We can afford to pay R40k a month but had to move out of the city because there were literally no places to rent.
What a absurd and clueless thing to say. The deal between DA and Airbnb is government interference in the opposite direction to help push prices up and push locals out
Explain in detail how letting foreign profit-making entities control housing supply is cheaper than alternatives when we know housing shortages provide the highest profits. No stupid maxims and proverbs, explain you rationale now.
Rent control by the government has resulted in a housing shortage in every city it has been implemented. Basic Economics 101. In the medium term, these high rentals will result in more housing units being built. If tourists think that AirBnB is too expensive, they will either again start using Hotels or choose other places to visit. Are you going to deny an exisitng owner from selling his property he lived in for 30 years, just because a rich person offers him a big amount? So much for individual rights.
I'm glad someone in media is bring this issue in Cape Town to the public
As a marketing director at Seeff South Eastern we have noticed this and we are helping people with this crisis 🙏
Lies u sell out yr ppl 4 foriegners @@ossidiianink
@ossidiianink i hope you can help your locals, because in Knysna and Plett the municipality is pathetic. Airbnb just needs to be slowed down and business should not be renting out multiple properties.
I'm so glad Dan is covering the news. It's so refreshing to see someone who's young and charismatic present news.
News was never designed to be charismatic. It's all about facts without opinion or sensation otherwise it's called propoganda or an opinion piece. This shows how this industry is failing the public, in my opinion.
well its Satire. but still real life topics no is scratching on as they should on TV. Gotta love Dan for it
@@myrlonortell6667 but is it really satire?
His boring
I like that he is doing it. I enjoy his personality, outlook and stance. I think he's great! Very relatable.
Thank you Dan and eNCA for allowing this type of information to be relayed to the people! This type of show is exactly what we need, bringing the truth with a bit of humour. Please keep this going strong and keep informing the people!!!
I had a nice home I was renting in bo-kaap in 2022, the landlord told me that he will let me move to the roof top apartment at the end of the month and that he will draw up the agreement closer to the time, 1 week before moving upstairs, the landord told me that he is cancelling the agreement due to the fact he wants to airBnB the place, then told me I had 1 week to move out as I don't have a lease agreement anymore, I have 2 dogs and it was really difficult to find a place.
Contact (Phumza Mnyaka, say Sakhumzi Gabuza sent you) Seeff South Eastern, we can help you with placement.😢
You had a cushy rental deal, not a nice home. If you did, you would have bought it in stead of renting. In 2022 nobody could chase you out of your home if it was yours. If the landlord wanted your rental property for his child, you would have been out of there, just as hard.
P.s: if you need her phone number I'll send it over
@@ossidiianink he will most probably not be able to afford a rental in Cape Town anymore. Unless if you give him a micro apartment, which is 100 times worse than where he stays now, plus a commute to work every day...
Every newly bought house has been turned into an Airbnb in Bokaap, by overseas foreigners. Exactly what the DA aims for to turn Bokaap into another De Waterkant. There's no principle or ethics involved to keep the area as cultural heritage since its inception in the 1700's.
A few years ago I got an offer to work for a firm in Cape Town. They were going to pay R15K and decent apartments were R11K and above. Unfortunately, I didn't take offer.
The greed
A lot of companies in SA are doing this and are allowed to get away with it
@@mindfulness4603 It's the estate agents chasing up prices. There's no regulation to question it. Its time that we the people take it up with Govt. How does one explain that in the 90's, one could buy a property in Camps Bay for approx R1.2mil and now its R25mil or Clifton R100mil. Why are the estate agents given carte blanche. Our food and meds follows. No control.
To live in cape town you need to earn at least 25+ and be getting 10% salary increase every year. Its wild here,
@@jbnacive3390 You need to earn minimum R40k to rent a decent apartment in CT if you're lucky. Nothing under R15 000pm. It's a train wreck. When do you save to buy one starting at R2.5mil.
I don't like enca but I love Dan corder
This show was the best decision eNCA made
The way I laughed, when the audience said "Haibo" 😅😅😅. South Africans, tsi❤
Our family were living in a wonderful rental in Camps Bay for 3 years. The owner gave us a 3 month warning that the rent was going to TRIPLE, so we had to move out. They have converted our house into a airbnb lodging house. It looks terrible now. 17 Rontree Avenue Camps Bay
Dan, you're tackling a sore point with locals. Thank you.
Airbnb are also owned by many overseas 'investors', but the money doesn't stay in South Africa. Some dont even pay levies. Any young graduate who earns a good income would opt to buy a nice property for stability, but there is NOTHING to keep them here, so they jump ship and offer their skills overseas. The engine of our society. But then, point me in the direction of a clever politician. They're all shortsighted and self absorbed. I know many professionals aged mid 30's who cannot afford a starter home in a good area, especially so where they grew up.
The greedy landlords start @R15 000plus per month for a one befroom in the City, relative to the massive increase in property prices , starting at R2.5mil.
There was a time when in certain fairly upend areas, a village section were designated for the young or elderly scaling down. There were rent controlled areas and or buildings too. Not with this Govt. Everything everywhere across the board prices are sky high.
The same apply to old heritage areas where people are forced out of their homes due to higher rates and electricity bills.
It is a shocking state of affairs and downright despicable for Govt to make more about the often tacky tourists, sharing a coke and cake bought at a supermarket and eating it at a restaurant where the manager had to intervene, than the hardworking SAfrican contributing in more ways than one to the economy. The property developers these days have carte blanche, there's no guideline or height restriction. It's shocking what politicians have been reduced to when greed rules. They DO NOT look after the people first.
Airbnb has been limited in NZ, Spain and other countries too.
Any young and smart graduate with a decent income would be smart to NOT buy property, not in SA. I too would leave and it would mainly be due to safety, not the price of rent or buying....
I know highly educated late 30's, who wont go overseas. The West is failing too. Many run to the MEast, 100% safe, no tax, no interest rates, free schooling and healthcare.
Having a crowd makes these news so cool. Big ups Dan 🔥
This man aaactually got me to subscribe to eNCA...too good
As a POC who grew up on the Cape Flats and now own an Air-Bnb in Cape Town cbd, I have to say that Air-Bnb has been a gamechanger for individuals like me. People who did not grow up with money. Though initially tough, I invested in a small apartment in the city which paid itself off basically and which has now enabled me to purchase my second investment property. That said however, I do agree that the industry needs to be regulated. A huge percentage of AirBnb's are owned by the same, wealthy Capetonians.
Thanks for sharing your story, it adds complexity and nuance to the discussion 👌
Exactly, where people are running AirBnB in Cape Town the average South African couldn't afford to live. including me. Town and the Atlantic Seaboard.
Well done on acquiring your two properties. It is great to such success stories out of the Cape Flats!
@MusehanaH thank you for the compliment. As I mentioned, without Air-Bnb carrying some of the cost, the other being my salary I, and others like me would likely not be able to have access to markets or properties in Cape Town's more affluent areas such as the CBD and ASB. It has helped make a number of "average" individuals, entrepreneurs. Which I suppose is the ideal.
@sds2954 you see they see you as the wealthy airbnb owner
Would be interested to know what percentage of camps bay is South African owned. They should regulate wealthy foreigners buying property
In the middle east countries foreigners are not allowed to buy in established areas
DA would gladly sell the whole of Cape Town to foreign investors if. given chance, privatizing the whole city would make the people more happier is what they would say.😅😅😅
They dont have to be wealthy. The manipulated bankrupt ditched Petrodollar and Euro makes it affordable to them. All fake and arrogance calling it economic names. America is finish with an $8trillion deficit, England can hardly keep its healthcare afloat, what makes their currencies better.
@@helston1301 DA's chief constituency comprises landlords and property developers.
@@fiqhonomics No it doesn't. There is no way they could get elected if their chief supporters were at most a couple of percent of the population.
Congratulations to Dan for this. Hard work pays off🙏🏾
The city should ban developers from building micro studio apartments. The city is exacerbating the housing issue by allowing developers to build these tiny apartments specifically for AirBnB use, but then pass them off as "affordable housing." Let's be real, micro apartments are not affordable housing allocations. They are AirBnB allocations. Second, third, or fourth, etc., properties destinined for profit making.
I have lived 25km away from the CBD for 30 years. There are plenty jobs outside of the CBD. Almost nobody lives walking distance from their work. Be realistic. People have been buying property for investment purposes for centuries. All these arguments are non sensical.
@@LonelyTreeSunset then they must stop building HOP housing for the poor as well as they are just as tiny. Lol
Rates for 3rd, 4th, 5th properties should be 3x, 4x and 5x. Landlords are leeches.
@@fiqhonomics but why? All my retirement income comes from property. Would you rather I sell it and invest it in Sanlam, Old Mutual and Liberty so they can buy the same properties and have it run by a property consortium? If you save for your retirement, where do you think that money gets invested? Thin air? It is real businesses, real property. Most owners of RA's and the like have no idea where their money is invested, but the idiots on the ground wants profit share in the companies they work for, even though they have not invested a cent themselves. Idiots like the guy who I am addressing, who just wants freebies. Go away and learn how the world works first, before you open your trap again...
@@mwdejagerwe don’t need to live in the city centre or near it, listening is a skill.. As we work and play in the WC we need fair playing field TO SURVIVE..
SA must do like Japan. It’s extremely difficult to own an Airbnb or an Uber in Japan. The country has locally owned hotels and e-hailing systems and they support economic growth. This protects locals and preserves the local aesthetics of the city. No foreign looking thing to give you a foreign experience when you want to really see a country for what it is.
Oh really 🤔
Oh really
GOLD🏆.
Exactly. Germany doesn't have Airbnb I've heard. Many are reducing it. Why not use a legal hotel or guesthouse.
But both Govts probably own Airbnb in their private capacity, so wont stop it otherwise why the racket.
The logic of Air BNB is that it attracts a large number of visitors,[none-business class type] to a city at cheaper rates, but the main beneficiaries are big businesses like Sixty Sixty deliveries + Car rental agents. Also ''word of mouth'' recommendations when these tourists go back to their countries, tend to attract more visitors in return.
Well if you really want to protect the locals and the aesthetics of Cape Town, then you will also support measures to keep South Africans not born in the city from migrating there. Because they're actually the bigger cause of the city's current overpopulation.
I am a rental agent. There is just no properties to help families. The Airbnb is causing issies in apartment blocks. I dnt like government interferance but Cape Town is a problem
Government interference is necessary because capitalism is inherently oppressive. The business model of Uber and Air BNB is based on undercutting prices until existing businesses tank which is completely immoral.
I think It is all about risk vs return, there is just too much risk now adays with having a long term renter who is unable to pay their rent, usually for unforeseeable circumstances, and then taking months to get out of the property.
After renting a room out to a local privately, who short paid, became obnoxious, lied and stole a remote control will never rent out like that again.
Went on Airbnb since. Will never rent out directly ever again.
I wish all the estate agents could form a consortium and start doing research to show the Government.
@@GloryDaze73 that is a very good idea.
Great topic! I love your show.
This is definitely a conversation that needs to be highlighted. Tourism is important, but it needs to be managed better and should not come at the cost of local residents. As much as I dislike increased regulation, something needs to be done to address these issues. Perhaps we can learn from other cities that are experiencing the same problems and how they are addressing them, such as Barcelona and Palma de Mallorca. We should also ask ourselves whether our economy is too focused and reliant on tourism.
💯%. South Africans must talk to each other more and unite under this extortion.
@@WorldPeace786-j3f YES!! Talk with your friends & family about this ... And spread awareness!
Many of us are working our asses off year-after-year .. and are STILL suffering financially.
We honestly don't see any light at the end of a tunnel.
It's wild out here and we needa do something! Something needs to happen!
If I receive another 8% increase (which I had to work really hard to negotiate) on top of my previous 3 8-10% increases.. I dunno what I am gna do..
I have been fully employed for 8 years and I still stay in a very modest 1 bedroom apartment outside of CPT!
It's crazy!
Let's include poorly regulated rental and housing market, no rent control measures, out of control rental agencies etc. People benefitting from the status quo will just repeat "it's the free market" or "supply and demand".
100% correct. Buy your own and then we can see if you will let the property for less than the next guy. Please show me how you do that.
@@mwdejager when I buy property it will be to live in it. There are other, less socially destructive ways of making money.
@@clinthufkie3242 good luck with that
@mwdejager he doesn't need luck to buy a house to live in and not pursue real estate. Some people are ok with not chasing money and living a simple life.
@@bakedpotato420 that is 100% true. I know people older than me with no "real" pension and no property on their name - they will rent till they die - good luck with that too. I have dismal pension saved up due to many job changes over the years, retrenchments and the like eats into your plans too. My properties are my retirement fund. What do you suggest that I do, to make it easier for the millennials? Sell it all and invest in an RA, so Sanlam, Old Mutual and Libetry can buy property with the same money? Stop hating the investors. They are ordinary people saving for their retirement.
Go Dan 🎉🎉🎉🎉 love this my guy let’s elevate
The problem with rentals is that the law protects people who fail to pay rent . Often tenants stop paying rent and you cant evict them for years and many court processes involved . All to protect the bad guy . Who looks after the landlord . Nobody wants to rent to tenants and who can blame landlords ? The law protecting defaulting tenants is causing the fact that home owners prefer to rent via airbnb .
Yes, thanks for bringing this up. If landlords were better protected more of them would return to long term leases again.
Good point, @garyyoung6125
@garyyoung6125 that's one of the perks if airbnb, if you choose your tourist they will Def pay and leave. That's why I don't want to lease out long term
Thanks for your comment. All the naysayers here just want a cheap ride, but have no idea what it takes to be a landlord - some tenants can and will bankrupt you, as they are better protected than the landlord.
Bullshit. You can get around this with a rental contract.
I got job in cape town and rent this side is crazy and many hurdles to get a place .. it's crazy ..
this show is amazing
I'm so happy this is being spoken about. I've had to find a new apartment recently and was so disheartened by the prices.
Guess which demographic is b!tching about AirBnB being regulated and not giving a f@ck about the ridiculous rental prices.
The moneylending, landlording class, a.k.a DA funders, a.k.a. ......
@@fiqhonomicsjuice?
@wyntonmcallister3234 Judaism actually forbids interest, but yeah.
@@fiqhonomics The Democratic Alliance are the only ones that do their job properly. I also doubt the wealthy, corrupt people in the ANC are funding the DA.
This has become a genuinely serious issue for Cape Tonians in recent years. The price of entertainment and cost of living is borderline unsustainable for the average local
Thank you thank you thank you!!!
Limits need to be set, thank you for taking the time to make this video! I am also very wary of air b n b's standards - we went to stay at a superhost air b n b last weekend - and it was full of mould we struggled to sleep and this is not the first time this has happened to us with air bnb I think for us it will be hotels and guesthouses only going forward!
Thank you Dan. Well done.
Thanks Dan for bringing some great humor and light. I think why most landlords want to rent their properties via airbnb, because they guaranteed to get their money and are protected. Where as renting out a property to a tenant, the tenant is protected if they default on their rental commitment. And if the property is bonded, banks come for their properties. A regulation needs to be passed to protect landlords as well 😊
Yours is the most underrated and under reported point. Being a traditional landlord, way too often turns into a nightmare. Why would a property owner take the risk of losing money when they have a better option.
Okay that is a good point. But surely it's mostly because they can make waaaaay more money renting to tourists on a short term, instead of locals.
Sure AirBnB has some impact however house prices in the cape are driven up mostly by ‘semigration’ from other provinces and short term letting for students. Supply and demand. Just look at the huge amount of estate developments in the winelands at stupid prices. At the inflated prices in the Cape return on Airbnb is a bad investment. Over the winter there are hardly any tourist, local or international. The competition also increased on AirBnb, getting enough CONSISTENT rental income to cover bond, levies, etc does not come close to covering these cost.
I feel like they don't want to talk about this aspect because they can't put a racism spin on it. I've also noticed from some other videos that this journalist likes to bash the party that has the majority in the Cape Town local government.
Airbnb only works when it’s a spare room in a normal house hold. We in the Guesthouse industry have seen the economic effects of airbnb indirectly destroying several local businesses and some residential apartments. More regulation of these platforms is needed.
Not everyone is rich enough to pay bed and breakfast prices. It's one reason why self-catering exists.
@@loganmedia1142 I agree with you, there should be cheaper options, but the way airbnb is doing it is not right. They are indirectly destroying the local economy. We've seen the effects of this in our industry.
I'm still trying to figure out why anyone likes cape town. It's so overrated. Terrible weather. Cold beaches. Capetonians make their whole personality about a mountain and ice cold beaches. It really isn't that nice. There's way better beaches and scenery in other parts of the western cape that isn't Cape Town.
So true! I don’t get the hype about CPT, natural beauty aside it’s pretty underwhelming & not very developed.
I’ve lived here for 10 years and the novelty wears off. I’m interested in living elsewhere in the country and see what it has to offer
@@SDav21 well hopefully the foreigners agree with you. Hasn’t happened yet
@@doomnoises The problem is they only see the touristy parts they want them to see. The illusion. The stuff for the wealthy. But behind all that, it really isn't that great especially not for the locals. It's like people who visit overseas for a short period of time and say they suddenly want to live there... Like no... LIVING somewhere versus VISITING somewhere will give 2 totally different views. Cape Town has managed to fool people for quite long now with the tourist stuff.
Because it has nice weather. Hot part of the year for those who like the heat. Storms in winter for those who enjoy the rain. The mountain provides a nice view and has numerous walks of all difficulty levels. I don't think there are any other cities in the Western Cape, never mind ones that are better. In fact if someone wants to live in a coastal city the options in South Africa are very limited.
I figured this was happening when I looked up accommodations on my cape town visit, and saw how many properties were offered on airbnb, and more importantly, how difficult it was to find a “host” who isn’t somehow offering multiple properties on airbnb - that’s a red flag for me that these aren’t just apartments a local happens to not be living in at the moment. don’t worry guys, in the cape i’ve stayed only in b&bs and hotels 😉
❤from malaysia
p.s. main reason why travellers like airbnb are those travelling as a family, for access to a kitchen (or at least microwave) and a washing machine. i was in a bo kaap b&b that has kitchen access and that place is a much better competition to an airbnb than a swank conventional hotel. you just wanna be able to heat up some leftovers, and cook sometimes if you want to be there for longer than like a few days’ holiday. i’m beginning to see some hotels renovating to offer apartment rooms (ie with kitchenette) and that’s the way to go if you want to claw tourists off of airbnb.
Thank you for covering this.
He is not boring informative
So happy for Dan
That 'GIRL' at 9:06 was so real. Thank you for tackling this, Dan!
You know everyone begging for government regulation. Ask Americans and Australians what it’s like living in these nanny states. Every single business is regulated. Including making meals or baking bread for people. You need to have a licence. This makes it very difficult for people who are struggling to get out of poverty. Enjoy your freedom you don’t know what you have here. 🇿🇦
So you don't see anything wrong with Dan's submission?
@@sabathaboyana9742 it’s overly dramatised. With any industry there are pros and cons, I think the pros for citizens far out way the cons. But eventually they probably will regulate it. But in my opinion the more the government stays out of private businesses the better.
@@shannoncorreia1386 What are Pros of gentrification?....From my point of view if it remains unregulated,Land Owners and Tourists are the ones who will benefit.
I can only laugh if you think the US is a nanny state.
Well if people could be trusted to make food to high hygienic standards then we wouldn't need regulation of things like restaurants. Those regulations came into existence because businesses will cut any corners they can.
@@shannoncorreia1386 Well you're wrong. Capitalism only works when the market is robustly regulated. We've actually known this for hundreds of years.
I love this style of news. Very informative and entertaining! I hope this is a weekly broadcast
Respect to the maan from his room to the nca❤️🔥
Born and Bred. The most overrated city in South Africa. Yuk
True...cape town during the holiday season is the pits..traffic is ridiculous year round now.
Home Affairs under ANC minister had a backlog of visa applications going back nearly a decade. I’ve been waiting 7 years and counting for mine. The new DA minister has had a third of the backlog cleared in a MONTH. Let that sink in… imagine if more of the cabinet had those same work ethics and political will?…
We can’t let that sink in when this operation started more than 3 months ago, under the previous home affairs minister
Let's hope the DA keep up looking after the city of Cape Town infrastructure and not start destroying our property investments. I am already seeing a decay in services like roads, failing water pipes and sewage infrastructure dumping in the sea. I do a lot of cycling and the roads are crumbling with pot holes all over the the place including affluent suburbs like Newlands, Bishopscourt and Constantia. This has cost me many bike tires. The section of M3 south bound was completely resurfaces only a few years ago and is now full of pot holes. I feel like painting around the potholes in neon orange paint, "Compliments of the DA" to compel them to fix. I hope there are not dodgy tenders where work is not done properly but with huge payouts. I hope the DA do not go the way of corrupt ANC.
The DA is controlled by an outsider.
ANC and DA re cousins. 😂😂😂
Ah, JHB by the sea. May as well stay here and organize protests and get more affordable housing for locals.
Well maybe you should just watch where you're going. There aren't enough potholes for you to regularly destroy tires.
Overall though the management in Cape Town do a very good job of maintenance and proactive repairs. Of course I've heard residents then complaining about interruptions because maintenance has to be done.
I've asked some people who regularly use the M3 and they say they have not encountered potholes all over the road. So what are the exact locations of those potholes?
I am loving the show
This is a serious issue. The City needs to take drastic action, just like Spanish cities did.
What's the internal migration like in Spain? Because in South Africa the majority of those moving to Cape Town are South Africans. That migration, even if Airbnb did not exist, would be causing a major housing shortage. Airbnb is literally about 3% of properties. More people move to Cape Town from elsewhere in South Africa every year.
Come on, man, this is so one-sided. Shameful you stayed in our Airbnb a while ago, Dan. A simple mom-and-pop business. What is wrong with digital nomads? At least the current government of Cape Town is still at least a little free market. It seems from watching this that you are now no longer interested in supporting 1000,s of small mom-and-pops who use Airbnb to make an income and contribute to the economy.
The landlords are definetly coming for you in the comments.
I'm living in Cape Town, and what you get in your "better" areas are insane... and what is being shared here is completely true and needs to be stopped. And the DA leading us here is not helping
They have not led you anywhere. Cape Town is one of a small number of decently operated cities or towns in South Africa.
Okay, news just became fun!
We are on our own!
This is going to be a good show bro
This is true. Airbnb owners in Cape Town outbid locals when buying properties and those houses end up being empty during most of the year while locals cannot afford housing due to the ongoing price hikes.
The only time there is bidding is in auctions. Houses for sale have an asking price and they've always taken the offer closest to that price.
At the moment the risk involved in having a long term tenant renting a property is more than the returns you get from renting it. Maybe if government made it easier to get rid of non-paying tenants property owners would be more inclined to take longer term tenants.
Louder!
Th property situation in cpt is really bad and the government doesn’t care.
The local government cares. That's why they're on a massive densification drive, to provide more housing. The ANC government does not care that their mismanagement is driving people to move to Cape Town. Too many people, and they're making it another congested hellhole.
i lived in the CDB for 8 years in the nicest apartment and the rent was already pretty bad but i cant even dream of moving back now because i'd have to live in like Plumstead or something :(
Shame.
So glad this is being spoken about in serious and public platforms with trails of proof to show how ordinary people are being screwed over. I hope this makes a difference 🙏🏽
Loved this show, so glad I found it. It felt like watching Last Week tonight but for SA which is more important and valuable news and learning to be ❤
Same in kimberley. Not with air bnb but with the renting industry. RDP houses are now 350 000. Because developers buy them to renting
Capetown has a hoysing crisis because we are allowing foreigners buying property at inflated rates
What about the tens of thousands migrating into Cape Town from elsewhere in South Africa? Do you view them as foreigners too?
Its a double edge when the rand went from r10 to r20 in 10 years. Meaning overseas buyers are getting a 50%discount. But anyways ill still buy a small flat for my own holiday use and airbnb in busy seasons.
Which eNCA is this one. I'm impressed 😅❤
Cape Town has def earned it - yes it is beautiful but it has been run much better for many years in a row (by the DA) than the rest of the country (by mostly the ANC Muppets). I say that as a Eastern Cape resident. So if you look at all of the Top Tier Cities in the world (London, Miami, LA, Paris) they are also becoming super unaffordable and get lots of tourists. So you should not call out the DA for absolutely nailing it in Cape Town (and the entire greater Western Cape area), you should call out all other parties (mainly the ANC) in other cities to finally pull their socks up, so that the tourism, money, jobs and investment could flow more evenly into South Africa as a whole (then the entire problem of over-concentration in Cape Town will go away. Stop posting sensationalist bull-shit, you are not helping anyone by attacking the only large city and one of the few political parties in SA that actually remotely function and do well. Be a patriot papa.
Most blocks of flats do not allow short term letting. The escalation of rental value has nothing to do with AirBnB and the like - its inflation and growing demand for accommodation in Cape Town.
I would say that the best run municipality in South Africa is earned.
Cape Town needs homes, not AirBnB destined micro apartments disguised as "affordable" housing.
Our very own John Oliver. Keep it up @Dan!
True, even employees that work for Airbnb landlords are not treated fairly and underpaid, no regulations at all.
Finally we have sensible news that's imperative.
We are recently looking for an Apartment in Cape Town the pricing is crazy, and the deposit is 2times your rent price. Like WTF!!
And when you take a look what they offer is really funny😂😂...
I'm a student and I live in a digs. Even the digs are paid twice your rent in deposit because apparently no one wants to pay for December. Oh and what a shocker! Like what student wants to be back home with their family while paying for the landlord's vacation in December way after they've left? It's crazy.
@@amourlbk If you want to keep the place you have to pay for it. Doesn't matter whether you're living there.
Deposits for renting have gone up there because of the increase in the number of tenants that either fail to pay their rent or trash the property.
What about all the semigration happening. The amount of South africans escaping failing metros to come to Cape Town. Surely this also drives the property prices and rental market up ? And not just in the more "desirable" areas.
Of course and it seems likely to be a much bigger factor.
People with property see this as an opportunity to create an additional income since we, and the rest of the world, have a cost of living prices. The problem now, all these buildings are now being upgraded and kept up, this increases the property value and makes it extremely difficult for the new generation to afford to buy housing.
The golden rule of capitalism is finding a way to live off someone else's labour, e.g. landlording and "fixed income" investments that are converted into loans to working people.
As opposed to Socialism where you get to live off others people's work and money...
I don't think that a property/area being upgraded and thereby increasing in value, is a negative thing for society in general. Tourism is a large job creator worldwide.
You provide no evidence to the claims that ordinary property owners are not following regulations.
Also 'the taxi industry is heavily regulated'...SANTACO missed that memo 😅
He mentioned that the app used by AirBnB is unregulated.
Would like to hear DA's reply
They do not need to - it is a free market. You are 100% free to buy yourself a property in the CBD. Nobody stops you.
@@mwdejager prices do unless youve been previously advantaged with inheritance
@@mwdejagerare you always this high from cocain and bitter?sit down and sober up jankii
@mwdejager we have to admit the irony of "free" in such a captialist system
@@humansolarian free to buy, is not he same as free of charge. Sadly South Africans seem to think that the country owes them, i.e. they want everything for free. Not even close to the same thing. They say education should be free too. Well it is for the most part. Just remember that you get what you pay for - if it is free, it is usually not of much value.
Jeez you can get a decent apartment in Sandton for those prices....lol that's a 3 bedroom apartment in like 85% of JHB.
In Cape Town there are plots and land available , but people cant buy it .They tender for plots to no avail. Some land is sold to developers
It's safer for some landlords to just do short term rentals, because the law is too much on the tenant's side. A tenant can just not pay rent, and stay for as long as they like. Easily costing the landlord 100k in legal fees and lost rent until an eviction order is maybe granted. Both sides need protecting.
I really like this guy.
This is a SAN Super Show! 🔥🔥🔥🔥
Tourism is a very low hanging fruit for lifting the economy, but you can only lift it by a few percentage points at best. What it does do is make some impressive short term figures.
Renting in Cape Town is a joke. I have had so much fear when I have to move out of a place because finding a reasonable liveable place for a fair price is so traumatic
Could 1 person 1 home in an urban/designated type of area be a solution? Force the tourists to use hotels in urban areas and airbnb/local guesthouses in designated tourist areas.
You must also discuss the crazy increase in levies and how that is boosting the public funds to increase infrastructure and other public works. Also, Patricia de Lille is not part of the DA anymore. The tax base is also increased and the national government gets more money from the increased prices. Properties surrounding the airbnbs also increase by an insane amount. So the downside affects first time homeowners and renters. The tourism industry is the easiest way to increase jobs in SA, hence targeting foreigners to come to CPT.
You go Dan, yr channel soooo informative and vibrant. Wake wakey Patricia De Lille.
Hi sir.. Why are so little people addressing this issue. I'm sure we'll still have some captonians denying it
Wow congratulations brother 👏 🙌 let's go
Thank you very much for the info
The DA never had South Africans interests at heart, it's always about Israel, UK and the US.
The same goes for hotels. The money goes into the pocket of the hotel owners. What's so difficult to understand.
There are management companies that host upwards of 100 airbnb units which are owned by MANY different property owners. I'd be curious to know the real stats on the most airbnb units owned by an individual [or individually owned company] in cape town.
They hide behind closed corporations so tou can't even see that in deeds office data AFAIK
Relevant content-thank you
Thank you for exposing them
It is so devastating really. Rent in CPT is not normal.
Supply and demand. Go see what rentals cost in London. It is not the fault of Airbnb. The CBD has been unaffordable for decades.
Apples and oranges
@@zingisamajikija2804 if rent is troubling you, go buy a property there and see if you can resist letting it, rather than staying in a property worth 15k per month in rental money...
yoh you know I thought I was just really broke looking at the prices of rentals in CPT, bro cost of living is through the roof
We used to live in the Atlantic Seaboard. We can afford to pay R40k a month but had to move out of the city because there were literally no places to rent.
I didn't know eNCA started sounding like the Daily show
3 beanie man now has a show on ENCA? Mediocrity truly is rewarded.
Jealousy isn't a good look on anyone.
It is the most average, unfunny show I have ever seen in my life.
@@SDav21 you need to be pretty daft, to be jealous of this dude 😆
More government interference means simply higher cost.
The main objective of the business or private sector is to generate profit, so how did you come to this absurd conclusion.
What a absurd and clueless thing to say. The deal between DA and Airbnb is government interference in the opposite direction to help push prices up and push locals out
Explain in detail how letting foreign profit-making entities control housing supply is cheaper than alternatives when we know housing shortages provide the highest profits. No stupid maxims and proverbs, explain you rationale now.
This is the private sectors doing.
You don't know what you talking about 😢
Rent control by the government has resulted in a housing shortage in every city it has been implemented. Basic Economics 101. In the medium term, these high rentals will result in more housing units being built. If tourists think that AirBnB is too expensive, they will either again start using Hotels or choose other places to visit. Are you going to deny an exisitng owner from selling his property he lived in for 30 years, just because a rich person offers him a big amount? So much for individual rights.