The Cape Winelands and Boland regions have seen significant growth in recent years, with property prices now reaching upwards of R10 million to R20 million, particularly in Stellenbosch, according to local property experts.
Data from Lightstone reveals that median property prices have surged between 53% and 119% over the last 5 to 10 years, driven by increased emigration and the appeal of a peaceful, country lifestyle.
This region, including towns like Stellenbosch, Franschhoek, and Paarl, has attracted affluent buyers, especially within high-end estates such as Val de Vie and De Zalze, noted Seeff Property Group.
Young families are also drawn to the area, thanks to its proximity to prestigious schools like Paul Roos and Rhenish Girls' High in Stellenbosch, Bridge House in Franschhoek, and Paarl Boys and Girls High Schools. Stellenbosch University is another key factor driving demand.
The region’s natural beauty, including its mountains and vineyards, along with its closeness to Cape Town, enhances its desirability. The upcoming Winelands Airport is also expected to fuel further demand for property in the area.
Stellenbosch leads the property market, with approximately R3 billion in transactions recorded over the past year (October 2023 to September 2024). Paarl follows with R1.8 billion, Franschhoek at R742 million, and Wellington at R493 million.
Franschhoek holds the highest average transaction value at R5.5 million, followed by Stellenbosch at R3.2 million and Paarl at R2 million. Property values in these towns have grown by up to 64% over the past five years and have doubled over the last decade.
Stellenbosch’s appeal lies in its Cape Dutch architecture, esteemed university, and exclusive wine estates. Upper-end neighborhoods like Brandwacht aan Rivier, De Zalze, and Welgegund Domaine Prive are particularly sought after, with properties now selling for between R8 million and R13 million, and some exceeding R20 million.
Rentals are also in demand, with students paying R6,000 to R9,000 per person for accommodation. Families tend to seek townhouses and homes priced between R15,000 and R37,500 per month.
In Paarl, factors like access to top rugby schools and its appeal to older buyers, golfers, and seasonal visitors from Europe contribute to the property market’s strength.
Popular areas include Hoog-en-Droog, Courtrai, and Boschenmeer Golf Estate, with buyers typically looking in the R3.7 million to R5.25 million range.
Rental demand is also strong, with properties in Boschenmeer and Le Parc ranging from R12,000 to R25,000 per month.
Franschhoek is known for its picturesque village charm and is one of the most expensive areas, with the majority of sales exceeding R3 million.
Homes generally sell for between R8 million and R20 million, and the demand for both short-term and long-term rentals remains high. Tenants often seek properties priced between R10,000 and R20,000 per month.
Wellington, known for its vineyards and nurseries, is a popular choice for those seeking a balance between a rural lifestyle and accessibility to Cape Town. Ceres, located about 90 minutes from Cape Town, is another emerging area, with buyers looking for homes priced between R1 million and R2.5 million.
Growth in house prices in the Cape Winelands and Boland region over the last decade.
Town | Price in 2024 | Price in 2014 | 10-year growth |
Ceres | R1.8m | R400k | 350% |
Paarl | R2.0m | R990k | 102% |
Franschhoek | R5.5m | R2.75m | 100% |
Stellenbosch | R3.20m | R1.60m | 100% |
Riebeek-Kasteel | R2.6m | R1.3m | 100% |
Malmesbury | R1.6m | R850k | 88% |
Wellington | R1.66m | R950k | 74% |
Tulbagh | R1m | R730k | 37% |
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