03 February 2012

Situated at the head of the Eerste River Valley, Stellenbosch is only 28 km from Cape Town International Airport. Known across the globe for its wines and natural beauty, Stellenbosch was founded in 1679, making it one of the oldest towns in the country.

The town is also well known for its university which provides world class education for approximately 25 000 students each year. With a substantial array of amenities including a selection of good schools and a choice of three top golf courses in town with a further eight within a 25-minute drive, Stellenbosch has become a popular residential suburb for families.

Talking about the Stellenbosch property market, Dot Foster, Broker/Owner of RE/MAX Oaktree which operates in the town and its surrounds, says that Stellenbosch properties have always enjoyed a good long term growth. ?As the town can?t grow anymore and the schools and university have a good reputation, buyers tend to purchase property here because of the lifestyle that the town offers, and not just the value for money that properties here provide,? she says.

This is evident the fact that four RE/MAX Oaktree agents recently worked together to sell two properties in under 24 hours. ?This goes to show that well-priced properties that are in good condition and that offer value for money combined with appealing lifestyle elements will sell fast,? says Foster. She believes that properties which offer good value for money will be in high demand this year. This,? she says, ?means that they should be priced at market value or lower, be situated close to schools and amenities and be in a good condition so that buyers can just move in with little or no renovation required. If the property is being purchased as an investment, buyers will want to be assured that it will give a good return and provide solid rental income.?

According to Foster, properties priced under R2 million will be the most popular among Stellenbosch buyers as the rental return on properties in this category is generally good. Added to this, she says that properties priced below R2 million are affordable for young families and will offer the best long term value growth.

Adrian Goslett, CEO of RE/MAX of Southern Africa, says that the correct pricing of property is the best catalyst for finding the right buyer in the shortest possible time. ?It goes without saying that a property that is well looked after, aesthetically pleasing and needs little or no renovation will fetch a higher price than a property that needs a lot of attention,? says Goslett. He says that as with most items available for purchase, any property will have a higher commercial appeal if it is clean, well-maintained and well presented.

Foster?s advice to property buyers and sellers for the year ahead is no different to any other year. ?Buyers and sellers should do their homework and make sure they choose to work with a reputable and knowledgeable agent who knows the market. A good agent will be able to assist buyers in comparing properties and provide sellers with an accurate valuation on their home.?

In order to get ahead in the current market conditions, sellers, she says, need to price their home correctly in order to attract serious buyers, while buyers should make sure they compare apples with apples and put in the best offer first.

Caption:

This brand new, three-bedroom home set on 204m2 within the secure Capolavoro Estate, in the Banhoek valley just 8 km outside Stellenbosch is on the market for R1,63 million.

The home boasts 178m2 of under roof floorspace, with an open plan living area, fire place, patio and built-in braai as well as 24-hour security. It earns a rental income of R9?350 per month.

For more information, contact RE/MAX Oaktree agent Petro de Jager on 082 970 6880

Send to a Friend