Stellenbosch Students Choose Secure Living Near Campus

Stellenbosch Students Choose Secure Living Near Campus

 Stellenbosch Students Choose Secure Living Near Campus

 

Stellenbosch University students adding to the ‘varsity town’s hustle and bustle with their lively conversations and teasing laughter are happy to be back on campus. Particularly those, it seems, who have grasped the opportunity to test their independence in an environment geared to support them as they learn, grow and thrive.

That’s the finding of a ‘spot survey’ by Pam Golding Properties’ Stellenbosch office of several of the first young adults on campus to settle down in hostels, apartments, or ‘digs’ ahead of 2022 classes resuming.

Feedback from students included the following comments:

“The opportunity to make your own choices and test your boundaries is the greatest appeal of living on campus,” says one.

Another says that many young adults can’t wait to get into their own space and experience independence for the first time after their school careers end. Living away from home while studying at university is one of the ways to gain this freedom.

“Taking full responsibility and making our own decisions – rather than relying on mom or dad – for our own timetables, grocery shopping and meals, accommodation and its cleanliness, and laundry among other things, is how we can take responsibility and find out what skills we have and what we are really good at,” adds another.

Another attraction highlighted was the benefits of being within walking or cycling distance of the university’s facilities, as well as the face-to-face academic support.

“It is cheaper to live on or close to campus, especially when it comes to travelling. Social interaction and academic networking are also key factors because you meet so many new people. These are not critical for attaining a university qualification but they are part of the ‘varsity experience,” she says.

As a result of this desire to live on or close to campus, there has been no let-up in the demand for student accommodation in Stellenbosch, despite Covid-19.

According to Pam Golding Properties Somerset West and Stellenbosch area manager, Louise Varga, the need for easy access to classes, an opportunity to participate in student life, and the desire to live independently has by no means declined over the past 24 months.

Says Varga: “Regardless of the adjustments we have all made to our lives as a result of actions taken to limit the impact of Covid-19, students still want to experience the independence living on campus affords them, while their parents still realise that doing so is beneficial for their personal growth.

“Fortunately, there are a number of developments catering for students currently on show. Investing in one of these developments close to campus is a great way to ensure your child takes those first steps to independence and growth in a secure environment,” she says.

“It’s also a global phenomenon that residential properties in student towns achieve higher capital growth compared to the national average. There is always a strong demand for accommodation in this historic town.

“In fact, our office processed 140 new leases in one day, ahead of the 2022 study year. This confirms that an investment in an apartment in one of the developments in our portfolio will deliver considerable returns over the years.

“Another benefit of purchasing a unit is that it enables parents to secure accommodation for as long as their child needs it. We’ve seen an upturn in students wanting to lease the same unit for the duration of their course. However, renting does not guarantee year-on-year accommodation as, if the unit is sold for example, their rental contract may not be renewed,” Varga says.

Da Vinci, Deo Gloria, 17 on Cluver and Archimedes are student-only developments taking every aspect of a student’s lifestyle into account and because they are semi-furnished, they ensure hassle-free accommodation from the outset.

These four developments offer features such as internet connectivity, laundry room or bi-monthly laundry service, weekly cleaning service, 24-hour manned security, remote control access gates and alarms in each unit.

READ MORE : Reflections On The Property Market As The Year Ends

Da Vinci is a contemporary three-storey, 41-unit development with home-from-home accommodation and extra communal areas creating the perfect environment for both study and leisure activities. Its hallmark feature is a roof-top communal braai area claimed to have ‘the best view in Stellenbosch’. Prices range from R1.825 million to R3.995 million.

Deo Gloria comprises studios, lofts and two or three-bedroom apartments, priced between R1.55 million and R3.65 million, and centrally situated on the Green Route on Cluver and Merriman Roads, within walking distance to campus and patrolled by security guards on foot and bicycles. With its beautiful gardens and prime location opposite the tranquil Jan Marais Park, a pristine nature reserve, it offers the perfect environment for both study and leisure times.

Another development, 17 on Cluveralso enjoys beautiful Stellenbosch views and a natural ambiance from its sought-after position on the Green Route. Each of its semi-furnished units – priced from R1.58 million – has been designed to maximise the space to ensure that students’ accommodation needs are met. Outdoors, the garden has a swimming pool and three braai areas, perfect for a relaxed but secure time-out from studying.

Archimedes is situated opposite the university’s world-renowned Engineering Faculty and comprises studio and two-bedroom formats priced from R1.85 million to R3.5 million. With comprehensive security systems and green structures in place, it offers a secure, eco-friendly lifestyle.

Other developments marketed by Pam Golding Properties include Bosmans Club and The Niche, which are not student-only buildings but include apartments with more than two bedrooms, making them ideal for students’ parents to use when visiting, as well as broadening the rental appeal when the student graduates and moves away.

Adds Varga: “As some downscale their accommodation for life choices, rather than financial reasons, mixed-use residential developments that offer desirable amenities, like Bosmans Club where prices range between R2.215 million and R3.4 million, are becoming increasingly sought after. Its contemporary apartments are also ideal for first-time buyers, young professionals, or post-graduate students looking to live in a trendy, vibrant area.”

The Niche is a new 51-unit development comprising bachelor, one, two, and three-bedroom apartments priced from R1.55 million to R3.055 million. Purposefully designed in a modern style, it is set within an established area of Stellenbosch and within walking distance of the university campus.

READ MORE: City Centre at Steyn City – the future of living, right now

 

 

 

City Centre at Steyn City – the Future of Living, Right Now

City Centre at Steyn City – the Future of Living, Right Now

City Centre at Steyn City – the Future of Living, Right Now

 

Johannesburg, January 2022: Steyn City’s City Centre recorded outstanding sales during the fourth quarter of 2021, with more than a quarter of the first phase units (187) including a penthouse selling in the three months since the development’s launch in October.

Steyn City Properties CEO Giuseppe Plumari informs that sales across all properties – freehold stands, cluster homes and apartments – totalling a quarter of a billion rand – helped Steyn City secure the best performance in 2021’s quarter four since its launch in 2015. This achievement was made possible because the parkland residence offers a full spectrum of homes, positioning it to appeal to a broad market, with different lifestyle needs and price points.

Andrew Golding, Chief Executive of Pam Golding Properties, notes that the economy has also played a key role in driving sales to this extent. “In many cases, people have disposable income which they would, in other times, spent elsewhere. Since the lockdown affected spending patterns dramatically, many have been able to change their living environment for the better.”

Of course, the impact of interest rates cannot be ignored: at a record 25-year low, 2021 was one of the busiest years experienced by the residential property market.

Plumari, meanwhile, is pleased by the market’s response to the new City Centre development: “When we started planning the City Centre, our intention was to create a very special way of life, facilitated by a development that offered facilities of a standard as yet unseen – our recently launched Ultimate Helistop and 300m beach-style lagoon are both cases in point. The unparalleled calibre of the development explains the rapid uptake of the homes – but I think that a large degree of the City Centre’s success may also be attributed to the new lifestyle ushered in by the Covid-19 pandemic.”

Plumari is, of course, referring to the ‘semigration’ trend and the rise of Zoom towns. Although these are most commonly located in quiet villages – often in picturesque areas like the coast – Steyn City’s location speaks directly to the common desire to live somewhere peaceful and scenic. Unlike many other Zoom towns, it has the added benefit of offering proximity to key urban infrastructure, such as the Fourways super-regional mall, Lanseria International Airport, and midway between Sandton, Midrand and Pretoria. Says Plumari, “The fact that we no longer have to commute into work is a significant driver in this regard. It’s changed the way we think about where – and how – we want to live.”

READ MORE: Residential Rental Market Battles Inflation

In pandemic times, that ‘how’ most often means feeling safe. Obviously, it helps to have a comfortable – in fact, downright luxurious – home and the City Centre certainly fits this bill, with one-, two-, three- and four-bedroom homes, a selection of double storey three and four-bedroom homes including features like private study, separate TV lounge, guest cloakroom, internal private lift and butler’s entrance and homes in the sky (penthouses). It all adds up to a cocooning environment, with ‘home’ becoming a pure pleasure – and the fact that it can be enjoyed with complete peace of mind enhances that ambience. The City Centre’s security measures include triple biometric access, which is additional to Steyn City’s round the clock foot patrols and 24/7 nerve security hub. Throw in the fact that each home is maintenance-free, and it’s easy to understand the appeal.

Plumari adds that, long before Covid lockdowns and the advent of remote work, Steyn City had already put in place infrastructure that negated the need for long periods in the traffic. The AAA-grade offices at Capital Park and the Steyn City School campus are a case in point. The existence of other outstanding recreation facilities speak further to another trend brought about by the pandemic: When you are living and working in the same space, convenience is critical; as is efficiency. Features like fibre to homes answer the latter, while the extensive parkland on which the City Centre is located means that residents have 2 000 acres of space to wander and explore. This sense of space has been highly valued by residents, Plumari observes, as the feeling of restrictedness has played a large role in the development of issues around mental wellness. “Our homemakers appreciate being able to roam in a place where they know they are safe and can breathe – a priceless asset in today’s times,” he says.

Golding is confident that property industry’s upswing will continue into 2022, and remains optimistic about the outlook for the future of both the country and the property industry.

Plumari shares his positive attitude. “I think that our offering plays directly into what people are looking for – our extensive security measures are a case in point. But so too is the City Centre way of life. Our beautiful homes at City Centre can be compared to the condominiums so popular in the United States: although they have the maintenance-free appeal of a small home, they are exceptionally spacious, with their exteriors belying the size and volume of what you’ll find beyond the front door. This is precisely what our market is looking for.

“We are excited to see what this year brings following the success of the launch of Phase 1 of our City Centre and the confidence in South Africa: construction of phases two and three has already commenced and is expected to be complete by the end of 2024,” he concludes.

For further information, visit City Centre – Luxury apartment living (steyncity.co.za)

READ MORE : Property & Residency Applications Spike

 

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Growthpoint, Feenstra Group & Investors | New Student Accommodation Fund

Growthpoint, Feenstra Group & Investors | New Student Accommodation Fund

New Student Accommodation Fund created by Growthpoint, Feenstra Group & Investors

 

Experienced. Trusted. Proven. “If it’s worthwhile doing, it’s worth doing well.” This is the quote that Pieter Feenstra often repeats to his young and dynamic team at the Feenstra Group in South Africa. Another, more tongue-in-cheek one is: “Be careful when euphoria is everywhere – even turkeys can fly in a hurricane.”

READ MORE : IWG | Alan Van Der Westhuizen | Leading The Co-working Revolution In South Africa 

Feenstra’s career commenced as a consulting structural engineer. He was also the founder of TFMC, which is nationwide and has regional offices in all provinces. He formed the Feenstra Group which focuses on Commercial, Student accommodation, Inner city and Residential real Estate development.

As the Group’s Chairman and Founder, Pieter Feenstra has over 30 years of experience in property development and management. His first property development project evolved out of his consulting work as a structural engineer, during which time he worked closely with several property developers and developed a fascination for the industry. Feenstra explains that this led him to eventually take the plunge and sell his consulting firm to focus exclusively on property.

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Property Sellers – Prepare Overstocked Market

Property Sellers – Prepare Overstocked Market

While it is expected that there will be more movement in the property market, the economic fall-out of Covid-19 will be that more property listings will flood the market as many property owners will be forced to sell for financial reasons according to the Seeff Property Group.

In an overstocked market, price and value will be the overriding considerations for buyers. If you are looking to sell in this type of market, you will need to:

READ MORE: Residential Rental Market Battles Low Growth And High Inflation

Price to sell.

Price is important in any market, more so when the market is overstocked, says Samuel Seeff, chairman of the group. It is one of the main deciding factors for any buyer. Let your agent help you to set your asking price in the right range to sell in the shortest possible time.

Choose the right agent.

Agents will be competing fiercely for your property mandate. Choose an agent with a track record of operating and selling successfully in your area, not just someone who promises a high price that will cost you in the long run.

Make sure your home pops on the portals.

Buyers will now have more to choose from and unless your property offers value for the asking price, buyers will move on to the next property listing. If you want to secure a good price in a competitive market, it needs to stand out on the property portals.

Ensure working utilities and a sound structure.

All plumbing and electricity must be in perfect order. Any issues should be sorted out before putting your house on the market to avoid any reduction in offer prices. Fix all cracks in walls, broken roof tiles, and faulty windows and doors.

Consider all offers.

Provided your asking price is market-related, any offer close to your asking price should be considered. You can always make a counteroffer if you sense that the buyer might come back with a slightly better offer. What you can accept will ultimately depend on your financial circumstances, but remember, the longer you wait, the lower the price that you may need to settle for.

READ MORE: Property Sector Thoughts on Medium-Term Budget Speech

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Reflections On The Property Market As The Year Ends

Reflections On The Property Market As The Year Ends

Reflections On The Property Market As The Year Ends

 

As the year comes to a close, there is no better time to reflect on the annum’s Lightstone data, specifically with a focus on one of the most important components of the property sector: the residential market.

 This months’ Residential Property Index provides great insights which you are welcome to use within your own content at your discretion. Here are a couple of key highlights:

 National year-on-year house price inflation is at 4.7%, marking a third consecutive month of 5%-or-undergrowth.

  • Inflation across the provinces is a bit of a mixed bag, with the Eastern Cape, Free State, Gauteng, and Limpopo all trending down, KwaZulu-Natal, the North West, and Western Cape on the up, and Mpumalanga and the Northern Cape remaining unchanged from last month.

 

Included, you will also find easy-to-read graphs and infographics. Here are a few examples of what you can share with your audience:

Latest/ Current Provincial Inflation Status:

 

 

Property Inflation: Freehold vs Sectional

 

Projected Residential Property Trends for 2022

Projected Residential Property Trends for 2022

Projected Residential Property Trends for 2022

 

It appears that the recent announcement of the repo rate hike wasn’t enough to deter residential property demand. The momentum gained over the past two years has not been experienced in decades and Grant Smee, Managing Director of Only Realty predicts that this uptick will continue well into 2022.

“Despite the highest unemployment rates experienced in our country’s history (currently sitting at 44.4%), there is still high demand for residential property – particularly amongst first-time homebuyers,”

Smee speculates that the repo rate hike (up by 25 basis points to 3.75%) will not slow current demand amongst certain homebuying categories. “Buyers in the LSM 8 – 10 bracket and those with a steady income are less likely to be swayed by this increase.”

What the Statistics Say

The latest oobarometer statistics released by ooba Group echoes this sentiment. “According to recent data, homes in the R1.3 million price bracket – currently the most sought-after price tag in the country – will see a monthly repayment increase of under R200.”

Smee adds that the excess demand for properties at certain price points (R2 million-plus) will see a prolonged buyers’ market – expected to last well into 2022. “On the other hand, sellers in sought-after areas now have the upper hand.”

The sellers’ market seeing the most activity is most prominent amongst properties ranging from R700 000 – R2 million in areas with convenient access to schools, public transport, fiber and retail centers.

 Investors: You Have Been Warned

 Smee does however caution that the ‘honeymoon’ period of affordable home buying  will eventually draw to a close. “The residential property sector is not immune to major cyclical changes, so I’d advise any investors to ‘cash in’ and bargain hunt in 2022 before the ‘cooling period’ begins.”

 What’s Trending in 2022?

 Smee shares the following predicted trends for 2022:

  • Semigration continues: “The demand for coastal homes – particularly in the Eastern and Western Cape – is set to continue. Uncertainty around work from home policies and how long these would last has now subsided with many companies implementing a long-term hybrid or work from home working model. This is also evident in the number of commercial properties up for sale as companies work towards reducing their office footprint,” says Smee. “This move gives homebuyers the freedom to buy where they want and to upgrade their homes to accommodate more office space
  • In-land properties in demand: “Recent homebuying activity in provinces such as Limpopo, Mpumalanga, the Free State and Northern Cape indicate a surge in demand. Properties in these provinces offer value for money and bring a sense of solace to ex-city slickers.”
  • Buy-to-let: The latest oobarometer Q3 statistics indicate a rise in buy-to-let homebuyers. “Over this period, buy-to-let investments increased by more than three times from 2% to 7% (from the same period in 2020).” Smee adds that this is a testament to an ongoing change in buying behaviour. “Homes are still viewed as a stable asset class by many investors. Rather than covering their own monthly home repayments, homebuyers are finding suitable tenants or are renting out a room to reduce costs.”
  • Security – above all else: “As crime continues to rise, we are seeing high demand for gated estates and homes in boomed off areas.” Off-plan developments also continue to drive demand as more of these pop up around the country. “Developers know where to build and exactly who their audience is,” adds Smee.
  • Saving and credit records: With many first-time buyers still looking to enter the property market, some will be focusing on a healthy bank balance and a healthy credit score (of 600-plus) in 2022. “An increase in inflation and the repo rate will see first-time buyers in particular, focusing on improving their finances to secure the best possible interest rate on a home loan. Those with a poor credit rating are advised to work with a home loan originator to improve their chances of being approved. It’s also advised to be preapproved for a home loan before you start shopping around.”
  • Notable areas on the rise: In 2022 Coastal areas such as George, Knysna, Mossel Bay, Ballito , the Atlantic Seaboard and West Coast are expected to “score big”.
  • Eco-living upgrades: “South Africa still lacks in areas such as eco-living and infrastructure to support smart homes, however, more savvy South Africans are making in-roads towards sustainable, eco-friendly living (and smart homes),” adds Smee. “Measures such as solar power, building with sustainable materials to reduce their carbon footprint, building homes with more natural light and growing vegetable gardens are just some of the trends that will continue (and grow in popularity) in 2022. Features such as these justify a higher price tag due to high demand by homebuyers.”
  • Upgrades for first-time buyers: Homebuyers who purchased their first property may now be looking to upgrade. “The interest rate remains low and these homeowners are moving into the next phase of their life. They might be looking for more space to accommodate a family or to accommodate a bigger home office. Based on this, we anticipate high levels of activity amongst second homebuyers.”
  • Home auctions increase: “Auctions are popping up in every suburb. While this is a traditional method of sale in the likes of Australia, it has long since been viewed in a negative light in South Africa. However, today, sellers are embracing this as a quick, transparent way to sell a property and the upturn is set to continue long past 2022. In my view, this is only the beginning” he concludes.

 

 

 

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