Opportunity for first-time home buyers – a home in a secure estate from R1.795 million.
Category Property news
With the high growth rate of real estate prices in the Western Cape, first-time buyers struggle to get a foot in the door, however, a new development, planned for Capri, represents an excellent opportunity to acquire an affordable home in a secure gated estate.
A 5.6-hectare section of land in the Capri area has been earmarked for the development, Cape Capri. “The development will feature individual erven ranging in size from 437m2 to 483m2,” says Mike Greeff, CEO of Greeff Properties, an exclusive affiliate of Christie’s International Real Estate. Greeff Properties has a sole mandate to market Cape Capri.
Turnkey properties at Cape Capri will be priced from: R1.795 million to R2.519 million VAT inclusive. 10 percent deposit upfront. There is no transfer duty.
Cape Capri is a joint venture between Hillside Capri Properties cc (the land owners), represented by Demetri Zitianellis, and DNL Properties. DNL are responsible for the development, marketing, construction and delivery.
“Homes at Cape Capri will exhibit recognisable Cape Vernacular architectural references, while the orientation and internal designs will maximise on a feel of space, an abundance of natural light, easy flow and contemporary finishes,” says Andrew Lottering of DNL Properties, adding that defining features include exposed trusses, open-plan living spaces and paved entertainment patios with the option of built-in braais. The bedrooms will house fitted cupboards and the kitchens will boast granite countertops and gas hobs. Solar geysers and energy saving lighting are to be standard. Designed by Architect Mike Wolters, two and three-bedroom homes are to be offered on a Turnkey basis, with options of single and double-storey configurations.
An abundant 7500m2 of public space within the estate will feature indigenous landscaping as well as water retention areas.
“55 Freehold opportunities will be made available initially with a further nine on offer in the second phase,” says Lottering.
“Cape Capri will offer residents a safe and secure lifestyle within a community likely to comprise mainly of young families, young professionals who are first-time home buyers and possibly retired couples looking to scale down,” says Greeff. “The magnificent valley setting with mountain views is also perfectly located in terms of pristine beaches,” adds Greeff. Long Beach is only five minutes away and the beaches of Fishhoek and Glencairn are no more than a 10-minute drive. “Cape Capri is also well placed for shopping facilities, with Long Beach Mall and Harry Goeman’s Gardening Centre a stone’s throw away, and False Bay Hospital just 5.6 kilometres down the drag. Furthermore, there are plans for a new medical centre behind Long Beach Mall,” says Greeff, adding that among the numerous easily accessible schools are: Fishhoek and Sun Valley, Silvermine Academy, Imhoff Waldorf and Reddam House.
“With the current shortage of stock, and unprecedented buyer demand, particularly in the Southern Peninsula, Cape Capri is an offering that amply fills a gap, particularly as it’s priced realistically,” says Greeff. “Given the success of the nearby Chapman’s Bay Estate development, where Greeff Properties has achieved sales in excess of R280 million, we have good reason to be optimistic about Cape Capri,” says Greeff. He says that investors looking to rent out properties are likely to get a good return as demand for rental properties is also currently very healthy. “The ultimate return on the selling price will in all probability not disappoint either, as history has shown that when buying into a development off plan, prices tend to escalate as soon as demand for properties increases, even before construction is complete, and the absence of transfer duty when buying off plan is obviously an added benefit,” says Greeff
Cape Capri is on show on Sundays from 2pm to 5pm, on site. On Kommetjie Road, Sunnydale, opposite Harry Goeman’s Garden Centre.
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