{"id":793897,"date":"2024-10-07T16:01:00","date_gmt":"2024-10-07T14:01:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=793897"},"modified":"2024-10-07T16:03:02","modified_gmt":"2024-10-07T14:03:02","slug":"one-town-in-the-western-cape-where-house-prices-increased-from-r400000-to-r1-8-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/793897\/one-town-in-the-western-cape-where-house-prices-increased-from-r400000-to-r1-8-million\/","title":{"rendered":"One town in the Western Cape where house prices increased from R400,000 to R1.8 million"},"content":{"rendered":"\n

Estate agency Seeff revealed that the average house transaction price in the Western Cape town Ceres increased by 350% over the last decade \u2013 from R400,000 to R1.8 million.<\/p>\n\n\n\n

Pierre Germishuys, Seeff\u2019s licensee for the Cape Winelands and Boland, said house prices in the regions experienced strong growth.<\/p>\n\n\n\n

Most notably, property prices are reaching well over R10 million to R20 million, especially in Stellenbosch.<\/p>\n\n\n\n

According to Lightstone data, median property prices have increased by 53% to 119% on average over the last 5 to 10 years.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

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

Another attractive aspect for families of the region, especially Stellenbosch and Paarl, are the excellent schools.<\/p>\n\n\n\n

These include Paul Roos and Rhenish Girls\u2019 High in Stellenbosch and Paarl Boys and Girls High Schools, Paarl Gymnasium, and La Rochelle Girls High in Paarl.<\/p>\n\n\n\n

Stellenbosch University, which is widely viewed as the most prestigious university in South Africa, is another drawcard.<\/p>\n\n\n\n

The scenic surroundings, mountains, and valleys, and wine farms with their rolling vineyards all add to the allure.<\/p>\n\n\n\n

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.<\/p>\n\n\n\n

Unsurprisingly, many of South Africa\u2019s richest people, including Johann Rupert, Koos Bekker, and Jannie Mouton, reside in the area.<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n\n\n\n

House price transactions in the area<\/strong><\/h2>\n\n\n\n

Stellenbosch is the largest property market. Lightstone data shows that R3 billion in transactions were concluded in the last twelve months.<\/p>\n\n\n\n

Paarl ranked second at R1.8 billion, Franschhoek third at just over R742 million, and Wellington fourth at over R493 million.<\/p>\n\n\n\n

Franschhoek boasts the highest average transaction price of R5.5 million, followed by Stellenbosch at R3.2 million and Paarl at R2 million.<\/p>\n\n\n\n

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

The table below provides an overview of the growth in house prices in the Cape Winelands and Boland region over the last decade.<\/p>\n\n\n\n

 Town<\/strong><\/td>Price in 2024<\/strong><\/td>Price in 2014<\/strong><\/td>Ten-year growth<\/strong><\/td><\/tr>
Ceres<\/td>R1.8M<\/td>R400K<\/td>350%<\/td><\/tr>
Paarl<\/td>R2.0M<\/td>R990K<\/td>102%<\/td><\/tr>
Franschhoek<\/td>R5.5M<\/td>R2.75M<\/td>100%<\/td><\/tr>
Stellenbosch<\/td>R3.20M<\/td>R1.60M<\/td>100%<\/td><\/tr>
Riebeek-Kasteel<\/td>R2.6M<\/td>R1.3M<\/td>100%<\/td><\/tr>
Malmesbury<\/td>R1.6M<\/td>R850K<\/td>88%<\/td><\/tr>
Wellington<\/td>R1.66M<\/td>R950K<\/td>74%<\/td><\/tr>
Tulbagh<\/td>R1M<\/td>R730K<\/td>37%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n
\n\n\n\n

Read: Top 5 suburbs where South Africans are buying homes \u2013 and only one is in the Western Cape<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Towns in the Cape Winelands and Boland region have seen significant house price increases in recent years, with one town experiencing 350% growth in ten years.<\/p>\n","protected":false},"author":10,"featured_media":793898,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[20614,10773,20615],"class_list":["post-793897","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-ceres","tag-seeff","tag-winelands-airport"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/793897","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=793897"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/793897\/revisions"}],"predecessor-version":[{"id":793946,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/793897\/revisions\/793946"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/793898"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=793897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=793897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=793897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}