Strauss Daly & BMH Law (Bellingan Muller Hanekom Inc.)

Ooba

2 Old Oak Road, Tygervalley, Cape Town, 7550.

Tygervalley Mall

Tyger Waterfront 

Willowbridge Shopping centre

Kenridge Primary  School

Eversdal Primary School

Stellenberg High School

Durbanville Wine route

Phase 1 – December ‘25 – February ‘26

Phase 2 – November ‘26

Phase 3 – March ‘27

1 bay per unit allocated

Additional bays can be purchased on first come first served basis

Sales go live Thursday, 18 October 2024, 10am.

Yes, however the deposit will be credited to to the total selling price making the interest negligible.

1. Cape Town experiences an average annual capital growth of 7%, meaning your property value appreciates at approximately 7% per year. This allows you to benefit from growth on the entire purchase price of the property while only paying a fraction upfront.
2. Your tenant effectively contributes to paying off your investment property and bond on your behalf.
3. While your rental income typically increases annually, bond repayments generally remain constant. Over time, as salaries and incomes rise with inflation, the bond repayments become relatively more affordable.
4. The longer you delay entering the property market, the more challenging it becomes.
5. Property investment has the potential to generate long-term, sustainable wealth and an ever-increasing annuity income.

Bond repayments will commence once the property has been transferred to your name and the bank has settled the payment to the seller.

Only bond fees payable.

They cover the costs of security, cleaning & landscaping of the common areas, maintenance of the building, building insurance and all running costs and management costs and insurance of the building.

There is no transfer duty payable but there are transfer fees (attorney costs). The seller is registered for VAT so there will be no transfer duty but only transfer costs payable.

Monthly rates are based on the value of the property and are calculated based on the value of the property less R300 000 and then multiplied by 0.006344 to get your yearly rates. Divide this by 12 to get your monthly rates.

Example:

(R2 Million Property)

=(R2 000 000 – 300 000)* 0.006344 = R10 785 per annum

This equates to R899 per month

After the completion of the development, the transfer process will commence. Occupation will be given as soon as an occupation certificate is granted. You will be able to occupy or rent out your apartment from the date of occupation.

Investors still have access to powerful tax incentives, including the popular Section 13sex of the Income Tax Act No 58 of 1962. This scheme enables any taxpayer who owns five or more new, residential rental units, to claim up to 55% of the purchase price as a tax deduction. (Deductible over 20 years)

How It Works:

Purchase five units at R1,5 million each = R7,5 million

Discount = R375 000 (R75 000 per unit, if purchased on launch)

Final purchase price = R7,125 million

Deemed purchase price = 55% of final purchase price (R3,918,750)

5% of the deemed price may be used as a tax deduction (residential building allowance).

This works out to a tax deduction (tax write-off) of R195,937.50 per year for 20 years.

Total tax write off = R3,918,750 (over 20 years)

Taxpayer Criteria for Section 13Sex:

• The taxpayer must own at least 5 residential units. The deal kicks in once the buyer takes ownership of their 5th new unit. A residential unit refers to a building or self-contained apartment, mainly used for residential accommodation with the exclusion of structures used for business purposes, for example, hotels.
• All units must be situated in South Africa.
• Residential units must have been purchased new and unused. (For example, buyers of flats that had previously been occupied would not qualify for this incentive.)
• The units must be used solely for the purpose of trade (i.e. residential letting). This prevents housing claims for personal use.
• Please consult your tax advisor for further clarification and information.

Each unit will have an independent electricity meter.

Short-term rental friendly.