Many sides to the Stellenbosch market

While there is still strong demand for student accommodation in the university town of Stellenbosch, purchasing is also taking place for a wide range of other reasons and the market is multi-faceted.

Renette Crous, principal of the local Aida franchise, says: “Parents who buy apartments for their children studying at Maties are still a major force in the market but there is also a large population of academics, for example, and the residential market is quite sophisticated.

“Independent investors in student accommodation are also still active. Bachelor units now sell from around R500 000 while apartments closer to campus are selling in the R800 000 to R950 000 range and two-bedroom apartments of about 62sqm on campus sell from R1,46m.”

Crous says there is also good demand, however, for newly-built two-bedroom homes in security complexes such as Welgevonden, about 4km from town. The prices of these start at around R985 000 while three-bedroom units generally cost just under R2m.

“And there is very strong demand for freehold homes under the R2m mark. These are scarce in the more established areas, although buyers may find older homes in Onder-Papegaaiberg at around the R1,7m mark. There is also a wide selection of stock currently in the R2,2m to R3,8m range.”

Meanwhile, prices of up to R8,5m are being paid for luxury properties in Mostertdrift, Stellenbosch’s oldest and most established suburb next to the Eerste River.

Crous says units in De Zalze Winelands Estate are also popular among lifestyle buyers. Prices of 379sqm stands start at R1,9m while built units are selling at prices from R4m to R8m.

Aida head office: 012 682 9600
Contact: Jan Davel
Aida Stellenbosch: 021 883 8403
Contact: Renette Crous


Meg Wilson

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