The southern suburbs of Bloemfontein have experienced an increase in property demand to align with the wide variety of budgets and needs of the community residing there. Based on the amenities found there the southern suburbs are typically seen as high-end residential areas attracting executives, legal – and medical professionals along with their families.
According to Jaco de Lange, Rawson Proprty Group franchisee, The proximity of the university campuses located here does make student accommodation such as apartments and shared homes popular however. De Lange further elaborated by saying that the area is also popular with young families buying fixer-upper properties to afford the “right” address.
De Lange said that home prices here range from R500,000 – R700,000 for homes that require some renovation and maintenance, up to R1.25m for new or newly renovated homes. With more expensive, luxury options available, “The top end of this market is around R3,5 million, which will buy a luxury three bedroom home in Universitas with an indoor pool and four garages,” said de Lange. “Or, for those who enjoy a more ‘country’ lifestyle, Bainsvlei offers luxury homes on smallholdings at prices from around R2 million upwards.”
For investors looking to buy multi-room houses to be converted to student accommodation, de Lange said an expected price of R1,5m is reasonable, while properties that have already been converted typically ranges around R2m to R3,5m in price.