Recently sold by Greeff Properties for R1.3 million, Albion Terrace, Rondebosch, a sectional title 2-bedroomed apartment, was purchased by a parent for children studying at UCT.

With levies covering all costs bar telephone and electricity, sectional title properties are becoming increasingly sought after by parents seeking to pin down accommodation for school-leaving kids registering at tertiary institutions.

“The quest to find suitable accommodation for students usually starts in October with a steady stream of enquiries from parents looking to buy apartments for children going off to varsity, but there’s always a flurry of activity from mid-December, after matric results are released and university becomes a reality for many,” says Mike Greeff, CEO of Greeff Properties, adding that with orientation week imminent, there’s a renewed scramble for suitable student digs.

“Sectional title is the perfect choice for students studying away from home for the first time, as it offers a hassle-free lifestyle, allowing time for studying   – and partying – and invariably, levies include security which offers peace of mind to the fretting empty nesters,” says Greeff.

As a short to midterm investment, Greeff is of the opinion these properties have proven to be safe bets in that they appreciate in value over the three to five years most students will spend at varsity. “Resale is not difficult, given the high demand. Equally, renting out will generate a regular income with a constant flow of first year tenants to replace the graduates,” he says.

Properties in the vicinity of UCT and the Jammie Shuttle, UCT’s dedicated transport, are most sought after, particularly as parking is limited around UCT, and first year students are not actually permitted to park on campus.  Areas include Rosebank, Rondebosch, Newlands and Claremont. Recent sales of sectional title units sold by Greeff Properties to parents seeking  to  accommodate students, include a  36m²  bachelor apartment in Claremont, which sold for R560 000, a 57m² loft in Claremont which sold for R885 000 and a 2-bedroomed apartment in Rondebosch which fetched R1.3 million.

Enquiries: Greeff Properties 021 763 4120