Chapel Towers apartments selling quickly in Zonnebloem

Asrin Property Developers recently released their Chapel Towers development in Zonnebloem, which comprises 90 apartments.  These have sold quickly, without any formal launch or marketing, and of these there are only 18 units still available. 

The quick take-up could possibly be attributed to the fact that it is sited on the fringe of Cape Town’s CBD (where there is huge demand at reasonable prices), says Nelio Mendes, marketing manager of – who are marketing units here - but also, importantly, part of an Urban Development Zone (UDZ).  The UDZ is a tax incentive that is aimed at revitalising inner city areas by attracting capital investments in commercial and residential property through a tax rebate.
In a UDZ, buyers are entitled to a tax deduction allowance, which reduces their taxable income in cases where they have bought a unit as an investment to rent it out. Tax savings of up to 55% of the purchase price can be claimed over an eleven year period.
The remaining units at Chapel Towers range in price from R1,860,000 to R2,905,200 and have finishes and fittings of a high standard, with engineered stone kitchen countertops, SMEG appliances, porcelain tiles on the floors, Hans Grohe (or similar) bathroom fittings and air-conditioning in units on the top floor.
Chapel Towers will have a lifestyle deck on the roof, which will have a swimming pool, gym, and outdoor entertainment and braai area. One parking bay per unit has been allocated in the basement on two levels and on the ground floor.
Asrin have created a chance to live on the fringe of the city and literally be a couple of minutes from the centre of the CBD, major highways to the airport, southern suburbs and the northern suburbs, said Mendes.  
Sited just between the historical District Six area and the Foreshore, residents at Chapel Towers will be able to enjoy a culture-rich environment with a glut of restaurants, bistros, coffee shops and retail centres nearby as well as it being possible to live a stone’s throw from one’s place of work.  When at home, residents will be able to enjoy 180° mountain or harbour views, and live in an access controlled environment.
Zonnebloem sectional title property prices, according to a recent Lightstone report, have increased by 100% in value in the last five years, and there is a resurgence of interest in property development here, says Mendes.
“This development is highly suited to a multitude of buyers,” said Mendes.  “Whether you’re buying to let out as holiday accommodation; a parent buying for your student child (Cape Town Tech is an easy walk from Chapel Towers); or a young professional working in the CBD; the location could not be better.”

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