The older generation will not be able to recall travelling long distances to school. There were private schools in days long gone but public schools were the norm.
Is it possible that private schools could influence the value of your property, or even the proximity of a private school?
In a study by the SA Centre for Development and Enterprises it was found that there was an increase in independent schooling. In the period between 2009 and 2012, 118 295 learners entered into independent schools. According to the Independent Schools Association of South Africa (ISASA), there are an estimated 2500 independent schools.
With the shortcomings of basic education in public schools, the need for private schools has increased and many of these private schools are affiliated to prestigious golf and lifestyle estate developments.
The lower interest rates we are currently experiencing have enabled more consumers to invest in these exclusive lifestyle developments. This in turn has promoted developers to construct more of these developments. These exclusive developments offer the added convenience of shorter travel distances to schools.
Residents within these lifestyle developments can afford the high levies and are also prepared to pay the higher fees for quality tertiary education offered in the private schools.
The demand will thus increase around these lifestyle estates within general residential property, increasing the value of the property. The advantage outside these developments is that the cost or affordability of housing is less and more money can be set aside for better standards of education.
When town planners and developers look at developing mixed use developments, schooling is prioritised in the early design phase of the process. According to Rob Staffanuto, Managing Director of Dogon Properties, there generally is an allocation of 3 or more private schools in the design stage of these lifestyle developments.
It is therefore a foregone conclusion that lifestyle estates and then private schools will positively affect the value of property.
My roof has listed property within these lifestyle estates across South Africa. Consultants are standing by to assist today. Keep in mind that interest rates are currently low and demand for these properties is high, so don't delay.