St Martini Garden: Rent Vs. Rent

A while back I reported on St Martini Garden and how a 1 bedroom flat rents for about R2600 and sells for R699 000. Well now it looks like someone bought and is trying to reduce their massive negative cash flow by trying to rent a similar 1 bedroom unit for R4500 a month! Considering you can get larger, better flats for R1000 less a month without looking very hard (this flat for example) I think this particular 'investor' is going to be bleeding cash for a while.