Rode Report Expands Coverage To Include Multifamily Rental Housing

SAMRRA collaboration brings greater transparency to a growing investment-grade asset class

Rode Publications & Media has expanded its flagship Rode Report on the South African Property Market to include, for the first time, the multifamily residential rental sector. This new focus, introduced in collaboration with the South African Multifamily Residential Rental Association (SAMRRA), reflects the sector’s growing traction as a specialist asset class and continues the report’s comprehensive relevance at the national level.

For decades, the Rode Report has been the cornerstone of market intelligence in the South African property market, offering in-depth analysis of trends across the commercial, industrial, and residential sectors.

Compiled by Rode’s property economics team, the report draws on extensive opinion-based surveys of market rents, vacancies, and capitalisation rates across metropolitan and secondary cities, alongside various reputable independent data sources. Since its inception over 30 years ago, the Rode Report is widely seen as a key reference point for investors, lenders, and developers.

Until now, multifamily housing – large-scale, professionally managed apartment buildings and rental estates built for rental purposes – were not separately tracked in the report. That will change from this quarter, with the inclusion of dedicated data and analysis on this growing sector.

By incorporating multifamily (rental) data alongside its traditional coverage of office, industrial, and residential markets, the report will now provide a more comprehensive view of the South African property landscape in a single source. This will support the sector’s robust performance, which has been driven by increasing interest and substantial institutional investment.

Established in 2024, SAMRRA serves as an industry body that has considerably advanced transparency within the sector. Historically, the institutional rental housing market has lacked reliable data, which has hindered its visibility. Today, however, data supplied by SAMRRA members is improving investment decision-making and boosting confidence in the sector. 

Published quarterly, the Rode Report will now provide an even more comprehensive review of the residential sector's performance, recognising the maturity of the multifamily rental market and supporting more informed strategic decisions. The data covered will include vacancies, rentals, and tenant arrears, supported by input from SAMRRA to offer essential benchmarks to developers, policymakers, and investors.

Rode Publications views the addition as a natural progression. “We are dedicated to continuously enhancing the quality and depth of the market intelligence we provide. As multifamily rental housing gains recognition as an asset class in South Africa, it is both timely and suitable that the Rode Report reflects this developing trend,” says Kobus Lamprecht, Rode Publications & Media’s Chief Economist and editor of the Rode Report.

“SAMRRA’s research to date reinforces the fundamental strengths and investment case behind professionally managed rental housing, while increased data transparency continues to strengthen the sector’s relevance in South Africa. We are pleased to enhance this transparency and share valuable metrics from our expanding base of institutional landlord members through the esteemed Rode Report,” says Palesa Mkhize, CEO of SAMRRA.

Previous SAMRRA research shows purpose-built rental housing in South Africa has proven resilient, with large portfolios consistently achieving high occupancy rates of over 95%, rent collection rates surpassing 98%, and tenant arrears staying below 1%. These figures match or outperform many commercial property sectors, with multifamily rental housing earning a reputation for stable, lower-risk returns.

National housing trends underscore its importance: approximately 4.5 million South African households, or 23% of the total, formally rent their homes, and an estimated 685,000 reside in flats or apartments, a figure that has increased by 9% over the past five years. This indicates changing lifestyle preferences and a rising demand for amenity-rich, urban living.

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