One of the major benefits of purchasing an apartment within Shoreline Sibaya, is the fact that investors have the ability to purchase units off-plan. While the units aren’t readily available when purchasing in this manner, there are some tremendous benefits that purchasers can enjoy. We take a look at how buying off-plan can help you in the long run.
No transfer fees
One of the most notable benefits, is that there are no transfer duties to pay. This is because your unit is being purchased directly from the developer. This is a savings, especially for those purchasing for their retirement.
If you are purchasing your unit through a bond, you will have additional time to save in order to pay for it, as most bond repayments only commence once the construction is complete.
Capital Appreciation of property
While you may pay, for example, from R1 475 million for your off-plan apartment, you will see a significant percentage increase in the value of your investment soon after transfer. When construction begins, the value of the apartment can see as much as between 20% to 35% capital appreciation. The value is further increased once the construction is complete.
No Levy Stabilisation Fee
As an added bonus, and to reiterate what makes Shoreline Sibaya such a great investment opportunity, not only is there no transfer fee payable when investing off-plan, but purchasers will also benefit from not having to pay a levy stabilisation fee. After much research, Carmel Properties has decided to absorb the cost of the stabilisation fee to make it even more attractive for retirees.