Potchefstroom's rental property market: behind the boom
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"Lively", "bustling", and "vibrant" are perfect words to describe Potchefstroom. But that description is also apt for its property outlook. With its large population of students, professionals, families, semigrants, and foreign investors, the town has a dynamic rental market that's seeing no signs of slowing down. Whether you're after a cosy pad for your studies, a well-priced home for your first nest, or a starting point to enjoy the sights and sounds of the North West, Potch's suburbs will certainly hit all the real estate sweet spots.
Properties priced right
The interest rate hikes, tariff increases, and rising cost of living have made it challenging for potential homeowners to enter the market. In response, many have turned to renting or remained renters to cut back on costs. PayProp's Rental Index reported that the North West had the fastest rental price growth of 9.3% (increasing from R6 021 to R5 985 in the last quarter of 2023). While this is great news for landlords in the area, prospective tenants will find the North West (including Potchefstroom) still has the most affordable rentals in the country.
The area currently has plenty of property stock giving renters the chance to choose their ideal home. A quick browse on Century 21 Potchefstroom's list reveals properties to let in sought-after areas like Die Bult, Van Der Hoff Park, Dassie Rand, and Potchefstroom Central. These areas are good options for the price-conscious. For as low as R2,500, a student can rent a single room in Die Bult complete with a bathroom, communal kitchen and lounge, a study room, and safe access-controlled surroundings.
An academic hotspot
Besides the price point, Potchefstroom's rental market has grown thanks to its status as a premier academic town. The most well-known, North-West University (NWU), enrolled 54,207 students in 2023 and is a widely regarded top-ranking institution with a campus in Potchefstroom. Students also study at Eduvos, Potchefstroom Academy, Boston City Campus, CTU Training Solutions, and Vuselela TVET College.
With so many places of learning, student accommodation has a sustained demand within the town. This is set to continue as government prioritises education and student funding. According to Higher Education Minister Blade Nzimande, the government plans to push university enrolment to 1.62 million by 2030. Last year, the National Student Financial Aid Scheme (NSFAS) also increased students' living allowances by 10%.
Where careers thrive
Potchefstroom's diverse economy attracts a wide variety of professionals and talent to the town. The area employs staff within educational, industrial, service, and agricultural industries. As the North West province's "Home of Sport", it appeals to local and international athletes who train at the area's sports academies and clubs, making good use of the area's favourable altitude and relatively clean air.
While semigration to the Western Cape remains popular, remote working professionals are also making Potchefstroom their home base. The area's lifestyle, attractively priced properties, both for sale and rent, and climate make it a competitive alternative. For R268,000, one can buy a one-bedroom apartment in Dassie Rand, complete with open-plan living and kitchen areas and a bathroom. When properties like this are close to NWU, they also offer fantastic buy-to-let potential for an additional revenue stream.
A home away from home
Besides locals, Potchefstroom, as with the rest of the North West, is gaining significant investment from foreign buyers and renters. The area's sunny weather, secure country living, appealing amenities, and exceptional properties are the perfect combination for a holiday or investment home. And at a great pricing, one can find more value than one might get in the USA, UK, or the Cape. For example, for R22,000 per month, one can rent a five-bedroom home in the luxurious Ailanto Country Estate. Besides offering modern finishes and spacious properties, the estate boasts tennis courts, a recreation area for motorbikes and quadbikes, and a picnic area next to a river.
Potchefstroom's desirable lifestyle ensures easy access to shopping malls like MooiRivier Mall, Canal Crossing Potch, and Riverwalk Shopping Centre. Top schools include Potchefstroom Central School, Ferdinand Postma High School, Potchefstroom High School for Boys, and The High School for Girls Potchefstroom. For healthcare, the area boasts Mediclinic Potchefstroom, a multidisciplinary private hospital. The area also offers popular attractions and events like Hartspad Adventure Trails, Royal Tree Spa & Guesthouse, and the Aardklop National Annual Arts Festival.
Make your move today
Potchefstroom's rental real estate market has plenty to offer those on the hunt. And with Century 21's local branch, you have a property partner ready to unlock your ideal living space. View our properties to let and get in touch with our team of SMARTER. BOLDER. FASTER.™ practitioners at your convenience.
Author: Century 21 South Africa
