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Stellenbosch Residential Property Sales - Market Report

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Stellenbosch Residential Property Sales - Market Report

  1. Stellenbosch Residential Market

1.1 Size

In 2023, Stellenbosch generated based on data from CMAinfo, R2.78 billion in residential sales and a total of 1,082 residential properties changed hands in the town.

Stellenbosch is the second-largest residential property market in the Cape Winelands by Rand value after Somerset West (R4,681 billion) – but bigger than the Paarl residential property market, which was worth R2,468 billion in 2023.

Stellenbosch has 31 412 residential properties with 23 378 being own title properties and 8 034 sectional title properties.

The residential property sales in Stellenbosch can be divided between 623 own-title properties worth R1.912 billion and 459 sectional title properties valued at R865 million. This equals 88 residential sales per month with a combined monthly sales value of approximately R231 million. About 70% of the monthly sectional title sales, which amount to 39 units, cater to student accommodation.

Stellenbosch has achieved a consistent price per square meter increase for sectional title properties during the last 3 years – increasing from R34 266 per sq.m (2021) to R34 451/sq.m in 2022 and then R36 641 per sq.m in 2023.

1.2  Demand

The Stellenbosch residential market demand is largely driven by:

  • lifestyle buyers who are attracted to the area’s scenic beauty, cultural heritage, good capital growth, a good choice of educational facilities, including schools, and its quality medical facilities (including 2 private hospitals),
  • a growing number of students needing accommodation (students numbers increased from 27 823 in 2012 to about 32 500 in 2024),
  • a variety of corporate headquarters based in the town such as Capitec, Remgro, Medi-Clinic, Distell (Heineken) and by startup companies.

According to a Rainmaker Marketing Report, Stellenbosch’s population has grown by 26% between 2011 and 2023 – i.e. from 55 886 to 70 685. This translates to an average of 103 adults or 41 families moving to Stellenbosch per month over this 12-year period.

  1. Stellenbosch Suburbs

Stellenbosch boasts a vibrant property market, with nine of its suburbs exceeding R100 million in residential sales during 2023.

The top 10 Stellenbosch suburbs in terms of residential sales in Rand value, for 2023, were:

• Stellenbosch Central : Total sales of R635 594 138 of which own title was R125 655 000 (13 houses) and sectional title was R509 939 138 (252 sectional title units). The highest house price sold was R30,45 million for 1 Noordwal-Oos Street, and the highest price for a sectional title unit was R11,45 million in Andringa Walk;

• Stellenbosch Rural : Total sales of R330 719 295 of which own title was R313 553 655 (90 houses and erven) and sectional title was R44 620 000 (9 sectional title units). The highest house price sold was R10,65 million in Brandwacht Aan Rivier Street and the highest sold price for a sectional title was R1,25 million in Nuutgevonden ll ;

• Paradyskloof : Total sales of R189 019 965 of which own title was R168 439 965 (29 houses) and sectional title was R20 580 000 (4 sectional title units). The highest house price achieved was R13,69 million in Welgegund Domaine Prive and the highest sold price for a sectional title was R6 300 000 in Paradyskloof Villas;

• Die Boord :Total sales of R167 870 000 of which own title was R159 520 000 (26 houses) and sectional title was R8 350 000 (2 sectional title units). The highest house price achieved not only in Die Boord, but also in Stellenbosch, was R32 million in Riverbosch Street, De Bosch Estate, and the highest price for a sectional title unit was R5 750 000 in La Vallee;

• Welgevonden :Total sales of R144 376 000 of which own title was R121 011 000 (46 houses) and sectional title was R23 365 000 (17 sectional title units). The highest house price achieved was R4,65 million for 3 Melkbos Street, and the highest price for a sectional title unit was R1 825 000 for 13 Pearls Place.

•  Universiteitsoord :Total sales of R140 283 000 of which own title was R9 700 000 (1 house) and sectional title was R130 583 000 (81 sectional title units). The highest house price achieved was R9,7 million for 3 Kleineweide Street, and the highest price for a sectional title unit was R3,495 million for 303 Da Vinci.

•  Mostertsdrift :Total sales of R138 302 600 of which own title was R107 105 000 (8 houses) and sectional title was R31 197 600 (9 sectional title units). The highest house price achieved was R21,3 million for 13 Rowan Street, and the highest price for a sectional title was R10 897 600 for Unit 1, 26 Jonkershoek.

•   De Zalze: Total sales of R132 625 000 of which own title was R114 625 000 (14 houses) and sectional title was R18 000 000 (5 sectional title units). The highest house price achieved was R23 million for 9 Klein Zalze Street, and the highest price for a sectional title unit was R5 million for Unit 5, Winelands Golf Lodges.

•   Jamestown :Total sales of R125 247 000 was all own title sales and consisted of 35 houses. The highest house price achieved was R9 million for 902 Aan De Weber Estate.

•   La Colline :Total sales of R80 443 388 of which own title was R36 706 080 (13 houses) and sectional title was R43 663 388 ( sectional title units). The highest house price achieved was R5,45 million at 17 Conde Street, and the highest price for a sectional title was R2,15 million for Unit 1 Oewersig.

  1. Present & Future Developments To Influence Stellenbosch Residential Property Market:

A variety of residential estates are at present being built in the development nodes inside the urban edge of Stellenbosch - adding a choice of different property types and price ranges to the Stellenbosch residential market.

Here are 2 of the larger residential developments already in construction:

  • Newinbosch: a 48-ha mixed-use development will add 1 320 middle-class dwellings to housing stock over the next 6 years. The 660 apartments and 660 houses and simplexes will be constructed at roughly 200 units a year, depending on market demand.
  • Devinbosch (Koelenhof area):  measuring 220ha in size, with 20ha of Phase 1 development rights already approved. It will boast more than 600 luxury apartments when completed, with an additional 3 000 homes planned.

The biggest planned development in the area, will be Stellenbosch Bridge. A multifaceted development on 340 hectares between Klapmuts, N1 and Elsenburg, which plans to merge lifestyle residential properties with business, retail, commercial, education, light industrial, all underpinned by sustainable and smart technologies. With Stellenbosch University as an anchor tenant, it is poised to be a hub for innovation, entrepreneurship and dynamic thinking.

The R7 billion Cape Winelands Airport at Fisantekraal (15 km from Koelenhof and 23 km from Stellenbosch Central) will be a significant driver that will also foster future Stellenbosch developments from 2027 onwards – when the first phase is likely to open.

The Fisantekraal area will also get a new university with JSE-listed higher education group STADIO Holdings planning to open its new R45 million campus in 2026.

Author Benhard Wiese
Published 07 Jun 2024 / Views -
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