Reports that TV and radio presenter Fat Joe was unable to pay the exorbitant rent of his Sea Point apartment and were subsequently evicted have left many wondering – South Africans , especially do celebrities live far beyond their means?
Fat Joe's eviction makes headlines
by Cape Argus, Fat Joe and his family are evicted from their luxury apartment in Sea Point.
The Western Cape High Court has allegedly issued an order against the former Real Goboza presenter for failing to pay R40,000 a month in rent, which has amounted to R600,000 since 2022.
The former Radio 2000 presenter lived in the house with his wife Palesa Morgan, son Brooklyn and daughter Nairobi.
According to Private Property, apartment complexes in Sea Point range in price from R10,000 to more than R100,000 per month.
How much these celebs paid for rentals
Fat Joe isn't the only celebrity to make headlines for paying a small amount of money to rent a home.
Here's how much these stayers reportedly paid to rent the mansion…
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Following his death last year, AKA's (real name Keenan Forbes) family was ordered to remove his belongings from their rented Bryanston home.
according to sunday world, The three-bedroom house was on the market for R30,000 a month.
Image via Instagram: @akaworldwide
Nandifa Magdumana
Celebrity doctor Nandipha Magdumana is a shocking example of living an 'Instagram perfect' life. In fact, scammer Thabo Bester's rumored girlfriend was allegedly involved in criminal activities.
According to TimesLive, the house is back on the rental market for R70,000 a month.
Faith Nketsi
Reality TV star Faith Nketsi is known for her flamboyant lifestyle as seen on her hit MTV show. have faith.
But people were shocked to learn that she now lives in a multi-million rand rented house in Hyde Park with her ex-husband Nzuzu Njiro.
The couple spent R45,000 a month to live in a luxury home.
Pooty Como
In 2019, former beauty queen Pooty Homo made headlines after she defaulted on the R30,000 lease on her Bryanston home.
Puti told Sowetan that he signed the rental agreement on behalf of a friend who could not afford the high payment. As a result, she entered into a nasty legal battle with the landlord of her property, who sued her for R250,000 for unpaid rent and utilities.
She said: “I made a bad decision and ended up in a bad situation. I'm trying to work it out. [it] We will do everything we can according to the law. ”
Buy or rent? Expert opinion
When it comes to real estate, there are advantages and disadvantages to both buying and renting.
According to economist Dawee Ludt, buying real estate is always considered a good investment, especially if you rent it out as additional income.
“You can use bank funds to buy real estate and maintain its value from an inflation perspective,” he told Salamedia.
He added: “You need somewhere to stay, so why not buy a place to stay?”
However, Root added that the downside to purchasing is the costs associated with fees, taxes, maintenance costs and levies.
According to the property report, IOL, As many as 54% of South Africans of all ages say they rent because they simply cannot afford to buy. ”
According to Statistica, in the second quarter of 2023,
The average monthly rent paid by South Africans was R8,375. It added that rents were highest in the Western Cape, KwaZulu-Natal and Gauteng.
