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If you are considering property as an investment there are few better options than buying a unit in the early stages of a property development, says Louise Varga, area manager for Stellenbosch, Somerset West, Strand and Gordon’s Bay at Pam Golding Properties.
At the Newinbosch Neighbourhood Estate in Stellenbosch, for example, a number of buyers who bought in phase one have recently sold their units at a profit - less than a year after buying. “We expect these units to show comparable capital growth,” says Varga. “There is a huge shortage of stock in the Boland in general and Stellenbosch in particular, and the homes at Newinbosch offer excellent value.”
No transfer duty is payable on a new development and the VAT due is usually included in the selling price. Bond repayments usually only start once construction is complete and the property is transferred. In some instances, occupation can take place before transfer. The new SANS 10400 building regulations require that new buildings include energy and water efficiency fixtures such as LED lighting, energy-efficient geysers and water storage tanks.
In the design and construction phases many new developments allow buyers to choose the finishes of their home.
Property Advice Property Investment
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