The views from Andringa Walk mixed use development in the centre of Stellenbosch.
Sectional title property prices in the university town of Stellenbosch continue to show steady growth, fuelled by the ongoing demand for lock-up-and-go living close to campus and the many amenities in town.
In the past year, these prices have increased by 6.3%, well above the national average of 4.31%, and the centrally located, mixed-use development – Andringa Walk – enjoyed a substantial price inflation of 14% between 2017 and 2018.
“Andringa Walk is a modern development offering privacy and exclusivity in the heart of Stellenbosch. With a prime location above the Eikestad Mall, it embodies a vibrant lifestyle that appeals to students and professionals who work in the area,” says Louise Varga, Pam Golding Properties area manager for Stellenbosch.
“Although Stellenbosch is a university town, its many attractions and proximity to Cape Town and the rest of the Winelands also make it a popular tourist destination. This means that lock-up-and-go accommodation, such as the bespoke apartments at Andringa Walk, are always in demand – even as short-let accommodation during the holiday season.”
Suzette Kruger, Pam Golding Properties agent for Stellenbosch, says: “The open-plan apartments, ranging from 31m2 studios to larger two and three bedroom units, come with either a balcony or a patio offering views of the tree-lined campus and the historical buildings below. Andringa Walk is set on one of Stellenbosch’s original streets, widened by the wheels of the wagons that used to pass through there, but this apartment block offers a contemporary, luxury lifestyle.”
Each unit has modern fittings, and biometric access and CCTV surveillance are some of the security features. A 24-hour concierge desk adds value, especially if the apartment is being used for short or holiday rentals. There is also the luxury of a daily on-site cleaning team. Andringa Walk offers exclusive basement parking – a considerable bonus in this part of town where parking is a sought-after commodity. There are also bicycle racks and storage rooms to let.
“With its reputation as the most conveniently located and secure residential block in Stellenbosch, apartments in Andringa Walk are always sought after. Many of the buyers are parents looking for a well-positioned unit that will provide the security and convenience students need. Andringa Walk’s capital growth also offers a considerable return on investment,” says Vanessa Johnson, Pam Golding Properties agent for Stellenbosch.
“As a mixed-use development, offering accommodation as well as access to retail and other amenities, Andringa Walk caters for the live-work-play property trend that is gaining momentum.”
With so much on offer, all within walking distance or a short drive of Andringa Walk, apartments are hard to come by. Buyers are willing to pay premium prices for the features provided. Pam Golding Properties has listed one bedroom apartments, priced at R3.12 million, and prices for the two-bedroom units range from R3.85m to R4.6m and the R6.8m penthouse.
Source: SA Property News http://www.sapropertynews.com/ongoing-demand-for-secure-luxury-living-drives-stellenboschs-sectional-title-market/