One town in the Western Cape where house prices increased from R400,000 to R1.8 million

Estate agency Seeff revealed that the average house transaction price in the Western Cape town Ceres increased by 350% over the last decade – from R400,000 to R1.8 million.

Pierre Germishuys, Seeff’s licensee for the Cape Winelands and Boland, said house prices in the regions experienced strong growth.

Most notably, property prices are reaching well over R10 million to R20 million, especially in Stellenbosch.

According to Lightstone data, median property prices have increased by 53% to 119% on average over the last 5 to 10 years.

This is largely due to a surge in emigration and buyers’ desire for a country lifestyle. Wealthy property buyers also invest more in Stellenbosch, Franschhoek, and Paarl.

High-end security estates in the Cape Winelands, such as Val de Vie and De Zalze, have attracted many rich individuals.

Another attractive aspect for families of the region, especially Stellenbosch and Paarl, are the excellent schools.

These include Paul Roos and Rhenish Girls’ High in Stellenbosch and Paarl Boys and Girls High Schools, Paarl Gymnasium, and La Rochelle Girls High in Paarl.

Stellenbosch University, which is widely viewed as the most prestigious university in South Africa, is another drawcard.

The scenic surroundings, mountains, and valleys, and wine farms with their rolling vineyards all add to the allure.

Another benefit is the area’s close proximity to Cape Town, and the new Winelands Airport, which is under construction, is set to increase demand for property in the area.

Unsurprisingly, many of South Africa’s richest people, including Johann Rupert, Koos Bekker, and Jannie Mouton, reside in the area.

House price transactions in the area

Stellenbosch is the largest property market. Lightstone data shows that R3 billion in transactions were concluded in the last twelve months.

Paarl ranked second at R1.8 billion, Franschhoek third at just over R742 million, and Wellington fourth at over R493 million.

Franschhoek boasts the highest average transaction price of R5.5 million, followed by Stellenbosch at R3.2 million and Paarl at R2 million.

On average, prices have grown by up to 64% over the last five years and have doubled in ten years in these three towns.

The table below provides an overview of the growth in house prices in the Cape Winelands and Boland region over the last decade.

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