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.”

  Comment on this Article

  Please login to post comments

Post to my facebook wall
Characters remaining

    Latest Property News
    • 22 Nov 2017
      Most people know of the Community Schemes Ombud Service (CSOS) and that levies must to paid to fund its operations. In this article the experts at Paddocks will address some of the issues that are causing confusion.
    • 22 Nov 2017
      While sales have noticeably slowed in most sectors in most Cape town suburbs, the security estate sector in Constantiaberg has bucked the trend by remaining buoyant, with sales by August this year already surpassing total sales in 2016.
    • 22 Nov 2017
      The end of the year is fast approaching, and so are all the travellers, tourists and holidaymakers. For those who live near or own a property in a holiday-hotspot, the festive season also brings with it an abundance of short-term rental opportunities. Its a great way for property owners to make a few extra rand for their own holidays or to put towards their savings.
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    Subscribe to the MyProperty Newsletter

    Last Name  
    Email Address  
    Email Frequency
    Share this Page

    For Sale Property
    Rental Property
    More Options
    Connect with us