New trends have shown that potential buyers and tenants are more inclined to settle where there are schools within safe walking distances from their homes. While short commuting distances are also agreeable, their preference is to live close to the school.
Somerset Lakes recently commissioned an independent study on the demand and growth impact of including a good school within a lifestyle development—very similar trends were noted throughout South Africa. Their research shows that estates developed in conjunction with a school result in a 10% to 15% higher property price growth potential compared with homes near private schools developed in pre-existing residential areas.
Lifestyle estates offer security and convenience and have become a major property trend in South Africa. They create a sense of security for the residents while giving them the peace of mind to enjoy the amenities incorporated within the estate: shopping and recreational facilities, jogging tracks, gyms, clinics, offices and public open spaces.
Somerset Lakes in Somerset West, just outside Cape Town is one of these developments providing an upmarket lifestyle with various residential options ranging from townhouses and apartments to single residential units. Beyond its security and lifestyle features, Somerset Lakes has an established Generation Schools within its confines.
Security has become a major issue to consider in South Africa when buying a new home. Besides the general security offered by living in a residential estate, what greater peace of mind could you have than knowing your children—while being independent—are perfectly safe walking to and from their school every day? This closeness also frees mothers from the endless daily chore of having to cart children to and from school for after school activities and sports events—allowing them to participate in the outdoor activities and lifestyle benefits offered by the estate also.
Somerset Lakes is well positioned to take advantage of the emerging trend to develop more schools—both private and public—closer to the communities they serve. For this reason, an investment in Somerset Lakes is a good investment opportunity for potential buyers.