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Land of learning experiences a micro property boom   Article Date :27 Oct 2005 Focus on Grahamstown. University towns' high demand for student accommodation has led to property booms in many parts of the country, including Grahamstown, where local and foreign buyers invest for their children's future. Grahamstown a buzzing seat of academia Grahamstown's long, rich and often bloody history is also the source for its many names over the years. Situated in a sweltering little basin in the Eastern Cape, Grahamstown has, at various times, been known as 'City of Saints' - there are more than forty places of worship, including the magnificent St George's cathedral; 'City of Schools', because of the many fine educational institutions, most notably Rhodes University; and 'City of Settlers' - after all, this was where Boer and Brit, Xhosa and Khoisan converged in a moment in history that led to a number of bloody battles. In the 1800s Grahamstown, in the heart of the Border region, was swarming with ivory dealers, big-game hunters and soldiers. Today it's a buzzing mixture of African cultures in which artists, writers and academics rub shoulders with tourists from all over the world - small wonder that the mother of all South Africa's arts festivals is held here in June every year. Then the streets come alive with artists, stalls and visitors from near and far. The town, with its wide, tree-lined streets and beautiful old buildings, lies in the centre of one of SA's most diverse ecological regions with some of the most unspoilt and breathtaking scenery. Even Hollywood stars come here to relax in some of the many private game reserves to see the Big Five. The young and wild at heart also come here to parachute, go fly-fishing, hanggliding, abseiling, mountaineering and to have fun on rubber duckies. Why buy property here? A good school is guaranteed to get the attention of most parents, and with three top government schools (Graeme College, Victoria Girls School and the PJ Olivier High School), as well as three top private schools (St. Andrews College, Diocesan School for Girls and Kingswood College), Grahamstown boasts learners from all over the world. Many of these - especially those who want to study journalism - then go on to study at Rhodes, as do thousands from other centres. Sometimes parents, particularly those whose children attend private schools, club together to buy a house so that the children don't have to stay in a hostel, says a local estate agent. 'The mothers then take turns to look after the kids. Not only do they save on high hostel fees - they have a place where the children can stay when they go on to university.' The town is home to one of the country's four Supreme Courts, as well as the military base, 6 SAI, that was closely involved in the peace process in Burundi. He says another big plus is that (fortunately) violent crime, so rife in bigger cities, is virtually nonexistent here. Grahamstown's biggest crime problem is petty theft from houses and cars. From far and wide The demand for property in Grahamstown has increased significantly with the ever increasing influx of buyers from other cities and, surprisingly enough, he says, overseas. 'These buyers settle here, put their children in a private school and then work from home. Every now and then they just fly to Johannesburg, or even England, to make sure everything's fine at the office.' That's the house I want... If you want to live in Grahamstown's soughtafter areas, simply stick to the vicinity of an educational institution: immediately next to the university you'll find Oatlands and West Hill, while Graeme College is in upperclass Somerset Heights, whose name says it all. He says there aren't really any areas in the town that should be avoided, because 'during the past 18 months, prices have escalated so much that the neighbourhoods that people used to avoid have now become the affordable ones.' He adds, however, that it is difficult to quote specific prices for specific areas, as the market here is slightly different from what it's like in the rest of the country. 'Since Grahamstown is a settler town you'll find many two-bedroom stone houses right next door to a modern five-bedroom doublestorey or Cape Dutch-style house. And then the prices don't differ that much. In any part of the city, you can expect to pay between R300 000 and R3 million.' A sound investment Since Rhodes University increases its intake of students by about 5% every year, yet no new residences are built, there is a great demand for student accommodation in the town. That is why he recommends buying a house here as an investment, although he admits that today's market, with its high prices, makes this difficult for beginners. 'Do it step by step. Try to get your foot in the door - no matter how low the price or how small the property. From there you can upgrade in due time with the profit you make. Never be in a rush or bite off more than you can chew.' New developments • Fitzroy Park is a safe townhouse complex that was completed about nine months ago. • King's View is another security complex that will be built early next year. • Construction work on Queenswood Court, almost on the doorstep of Grahamstown's three private schools, started in May. The first phase will consist of one-, two- and three-bedroom units in a security complex with access control. The size of the units varies from 50m2 to about 150m2 and they will sell for between R250 000 and R 480 000. These houses are aimed at the middle to lower high-income group and, of course, first-time buyers. CLICK HERE TO RETURN TO THE MAIN NEWS PAGE