![\"\"](\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/09\/The-Niche-00.jpeg\")
<\/a><\/p>\nA new 51-unit student apartment development is being constructed in Stellenbosch, aimed at students – or investors looking for a bankable market.<\/p>\n
Called The Niche, the development will offer bachelor, 1, 2 and 3-bedroom apartments with prices ranging from R1.5 million to R2.7 million, for spaces ranging between 40 and 73 square metres.<\/p>\n
The apartment block is being built on Paul Kruger Road, Stellenbosch, within walking distance to the university and close to major facilities amenities.<\/p>\n
It is being targeted at investors looking for an investment opportunity in the area, or for parents who have student dependents.<\/p>\n
The Niche offers premium apartments with quality finishes and fittings, ideal for a student\u2019s needs. Perimeter CCTV and an electric fence provide comprehensive security, and there is off-street parking with remote control access.<\/p>\n
“Historically, residential properties in student towns around the world achieve a higher capital growth compared to the national average,” said Louise Varga, Pam Golding Properties area manager for Stellenbosch.<\/p>\n
“This is partly due to impact the influx of students has on the population, which in turn fuels the sustained rental demand.”<\/p>\n
According to Pam Golding, student towns are big business for the property market, as the dearth of accommodation available in official university residences ensures that there is always a demand for apartments close to campus.<\/p>\n
The realtor noted that The Niche is located in an emerging area that has been earmarked for further development, which looks set to be a hub for students and young professionals within the next five years.<\/p>\n