Local property experts weigh in on the property market in Paarl.
What types of properties are available and what can buyers expect to pay?
The beautiful town of Paarl ranks among the most sought-after property areas in the country with property options from older houses to beautiful historic houses, top-class estates and stunning lifestyle and wine farms. Main Road’s wide selection of Cape Dutch, Georgian, Victorian and Edwardian styles, many of which have been declared heritage sites, ranges from about R1,75m to R2,5m. The average freehold house price is about R1,3m, but prices have reached over R3m. Properties in the estates such as Boschenmeer, Val de Vie and Pearl Valley range from well over R3m to about R20m at the top end, and lifestyle and wine farms can go for up to R40m.
How has the area changed over the past five years?
Paarl has become even more popular since 2011. With the best schools in the country, families are prepared to travel further to get to work to accommodate their children. During the past five years we have seen a steady growth in house prices. In 2011, you could buy a three-bedroom flat in a secure complex in Southern Paarl for R700,000; now you would be paying R880,000. As land has become more scarce buyers are prepared to pay more for their piece of land, with prices rising accordingly. House price growth is above inflation and investors in real estate in Paarl see good returns over a period of five years.
What attracts buyers to the Paarl area?
The lifestyle and natural beauty of the valley are a big attraction, and families with children come for the good schools in the area with Stellenbosch University close by. The outlying estates of Boschenmeer, Val de Vie and Pearl Valley offer security and peace of mind, with loads of family-orientated activities such as tennis courts, golf, clubhouses, hiking and swimming pools. Paarl’s close proximity to Cape Town International Airport and to the city of Cape Town make it attractive for businesspeople who commute, and the fact that Paarl is surrounded by good restaurants and wine farms adds another dimension to the enjoyable lifestyle on offer.
This article originally appeared in Neighbourhood, Sunday Times.
Take a spectacular journey through the Paarl neighbourhood here: