Around 100 000 students are enrolled at tertiary institutions in Bellville. In 2017, over 5 000 students were living in the area, presenting an attractive development opportunity for developers of student accommodation and student support businesses.
Many students travel from across the country and the continent to participate in the quality education these institutions offer. In 2017 over 5 000 students were living in Bellville, in 24 student residences, located both on and off-campus.
Bellville is an attractive development opportunity for student accommodation developers. Investors have begun to take advantage of this large student population, buying and refurbishing old buildings and converting them into student accommodation. Cheaper building stock and tax incentives such as the Urban Development Zone maximise the development potential of this sector.
Students need places to go, things to do, food to eat and services to support their studies. Their needs spur entrepreneurship and economic activity. A 24-hour economy requires people to be living, working and playing in an area both during the day and at night.
This means to provide sufficient amenity to serve people’s needs, such as safe, well-managed transport and affordable accommodation, employment opportunities and accessible support facilities such as internet cafes, book stores and coffee shops.
This kind of vibrant environment could also be extended to offer more diverse yet affordable accommodation options for middle-income first-time buyers, especially young graduates.