select
|

Stellenbosch ‘big picture’ is one of growth

Although student housing is the most talked-about type of property in Stellenbosch – particularly at this time of year – it is by no means the only one, and several other sectors of the market are doing well at the moment.
 
“There is currently very good demand for properties priced at R4m and more among professionals and executives who are relocating to the Western Cape from Gauteng, Free State and the Eastern Cape,” says Elmarie van Huyssteen, one of several Chas Everitt Notebook® licensees in the town.
 

3 Bedroom House for sale in Jamestown, Stellenbosch

“According to figures recently released by First National Bank, the Western Cape is the favourite destination by far for the 19% of SA homeowners who sell their existing properties with the specific intention of relocating to another province, because it offers them the combination of a strong economy and a high quality lifestyle.
 
“And we find that Stellenbosch is an extremely popular choice among these ‘semigrants’ because of its historical ambience, scenic beauty, excellent schools and university,and of course its central location in relation to Cape Town, the Northern Suburbs, the airport and the Cape winelands. In addition, many national and international companies already have their headquarters in Stellenbosch, and it has a growing reputation for clean, high-tech industry centred on the Technopark,” she says.
 
Meanwhile, there is also considerably more movement now among longstanding Stellenbosch residents, with some moving home to be closer to schools or work but many taking the opportunity now that the property market is improving to upgrade to bigger or better homes while interest rates are still low and price growth still relatively slow.
 
“We also receive enquiries almost daily from local owners who are planning retirement and looking to downscale from their large family homes or move to a retirement village. There are only four retirement villages in Stellenbosch and demand for homes in these constantly exceeds supply.”


3 Bedroom Apartment to rent in Stellenbosch
 
The big picture is that the overall market is much more active than it was five years ago, and that the number of sales is climbing rapidly, thanks to more bonds being granted and to more buyers having access to the cash needed for deposits. This has led both to the expansion of the initial two Chas Everitt Notebook® teams in the town (one managed by Van Huyssteen and the other by Ansie Welman) and recently, to the awarding of a third Notebook® licence, to long-time Stellenbosch resident and agent Renette Crous.
 
As for the student housing sector, Van Huyssteen says, this is constantly being renewed as students starting out at university replace those who have completed their studies, and it is always extremely busy in the last few months of the year as parents try to find suitable accommodation to buy or rent for their children in the following year, and others hunt for good student housing investments.
 
“However, there have been quite a number of new developments in this sector in recent times, which means that there is actually no shortage of student housing here for the moment. Although they should not leave things to the last minute, parents and investors do have a wide choice now, and prices have accordingly not moved much for the past five years.
 
“A two-bedroom apartment on campus will cost between R1,6m and R1,8m. The same unit reasonably close to campus will sell for between R900 000 and R1,4m, while flats on the outskirts of town – which are often preferred by older students – are selling for around R700 000. Rentals for two-bedroom student apartments range from R4500 to around R7000 a month.”


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Feb 2018
      These days most buyers are using online property portals like Private Property when house hunting due to the convenience, up to date information and variety on offer. “The property portals have revolutionised the way buyers shop, but they do need to be cautious – viewing photos online is no replacement for viewing the property in person,” says Bruce Swain, CEO of Leapfrog Property Group.
    • 20 Feb 2018
      Owning a home is a milestone that most South Africans aspire to. Becoming a homeowner is a step towards growing personal wealth and owning an asset that appreciates in value over time, provided of course that the correct principles are applied during the buying stage of the process, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Feb 2018
      The suburb of Greenstone in Johannesburg east came to be over the last two decades. “In the beginning, it was literally just a hill with not so much as a shopping centre,” says Michael Levy, Property Consultant at Jawitz Properties Bedfordview. Today it has plenty shopping facilities and is fully built, boasting high-density, upmarket housing and residential estates, though still has a few pockets poised for commercial development.
    • 20 Feb 2018
      A major shift in the ageing paradigm has precipitated an equally dramatic transformation in the retirement sector, with modern accommodation options worlds away from the conventional model.
    • 19 Feb 2018
      Possibly one of the biggest sources of contention between landlords and tenants surrounds the rental deposit. “Most tenants rely on getting their rental deposits back when moving, so that they can use it to pay a deposit on their new home. Having it withheld or even having large amounts deducted can lead to a lot of distress,” explains Bruce Swain, CEO of Leapfrog Property Group.
    • 19 Feb 2018
      Situated approximately halfway between Johannesburg and Pretoria, Midrand was established in 1981 and forms part of the City of Johannesburg Metropolitan Municipality. It has become one of the major business hubs in the country with major pharmaceutical, textile, telecommunication and motoring giants situated within its boundaries.
    • 19 Feb 2018
      The PayProp Rental Index Annual Review of 2017 shows that the rental market suffered from much volatility during the year. It kicked off with rental growth spiking in January with weighted year-on-year growth (YoY) growth peaking at 8.3% before dropping to 6.34% in July, dipping down to less than 5% in November and then experiencing a slight uptick at 5.75% in December.
    • 19 Feb 2018
      While most homes in cluster complexes, estates and other gated communities come with at least one garage or carport, residents would often like additional permanent parking or storage areas for things like trailers, bikes, boats and caravans.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK