[imagesource: Flyt Property Investment]
Getting a foot in the property market is, for most South Africans, pretty tricky.
I like trawling property sites and admiring what’s on offer in Constantia, or along the Atlantic Seaboard, as much as anybody, but when push comes to shove (and reality bites) the asking price of what I’m looking at undergoes a significant shift.
For those who want to own property in the Cape Town CBD, One Thibault, from property development and investment firm, Flyt Property Investment, is worth a closer look.
The development offers apartments ranging in size from 19 square metres (starting from R895 000) through to 60 square metres (two-bedrooms, going for R2,65 million).
What really sets One Thibault apart is that it’s Section 12J compliant, and you can invest through the Flyt Select Fund, which means you can get a tax refund of up to R450 000 for every R1 million invested.
Here’s the floor plan for a unit starting from R895 000:
There’ll be a pretty decent view out the window from the bed, which you can see in that photo up top.
The 180 serviced apartments, on floors 15 through 20, are fully managed by an on-site team, WINK Aparthotels, and investors have access to a host of benefits, including:
This all makes for a well-managed, hands-off investment with numerous benefits, aside from a guaranteed rental income of 6% for the first year.
Zane de Decker, chief executive of Flyt Property Investment, spoke with BusinessTech:
“You have the choice of purchasing a pre-approved unit priced from R895 000, but you can also qualify for a 100% tax deduction.
Not only are you able to invest in property in a sought-after location for good value, but you can write off your tax investment amount against your tax liability for the 2021/2022 tax year.”
On June 30, the Section 12J tax incentive expires, so this is your final chance to take advantage of the massive tax benefits the incentive offers.
Scaling up from the 19-square metre micro apartments are the 29-square metre studio apartments, starting from R1,05 million, and the 39-square metre apartments, which start from R1,595 million:
If it’s space you’re after, the largest units, the 60-square metre two-bedroom apartments, will be laid out like this:
That should also make for cracking views out that curved lounge window:
I could happily put my feet up there.
For those who don’t have money for the initial investment on hand, there’s 100% financing available through Flyt Property Investment.
You can get in touch with them here, to find out more about One Thibault, as well as their other Section 12J compliant developments.
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