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.”

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