Harcourts opens in heart of the Winelands

The Harcourts property group has opened a new office in Stellenbosch that will also serve the property markets of nearby Paarl and Franschhoek.
The office opened for business at the beginning of July and has secured eye-catching premises at 38 Bird Street in Stellenbosch.
Etienne Labuschagne, co-owner of the new Harcourts Winelands office, also owns the Harcourts Select offices in Tyger Valley and Kraaifontein. "The offices will operate independently but referrals between the different areas will be automatic and so enhance the Harcourts offering in the region," he says.
“Meanwhile Harcourts Winelands is offering the full bouquet of property services and already has specialist agents in place to handle residential sales, marketing of new developments and rental services as well as commercial and agricultural sales. And the current team of eight sales agents and two rental agents will shortly be expanded to 15 agents in Stellenbosch, 10 in Paarl and two in Franschhoek.”
Labuschagne says demand for residential units in the Stellenbosch and Paarl areas is high. "Stellenbosch, in particular, is a preferred residential and retirement destination of top Western Cape professionals and business people. Many family buyers are also “semigrating” from the northern parts of the country and target Stellenbosch and Paarl thanks to the top local schools and the University of Stellenbosch."
So although student accommodation remains the most sought-after real estate, he says, there is also high demand for homes in retirement villages and security estates.
As for pricing, location relative to the university campus plays a decisive role in apartment pricing, with bachelor units off campus available at prices from around R750 000 but two-bedroom apartments in the centre of town selling for up to R5m. Family homes in older,well-established suburbs are currently selling for between R2,5m and R10m, while agricultural land with established vineyards is selling at an average of R1m/ha.
Labuschagne says the good news for prospective buyers in this area is that there are several new developments coming on stream, particularly in Paarl. "However, even with new stock coming to market, prices in the Winelands remain on an upward curve and that makes buying property in the area a very sound investment."

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