PineworX, Rabie’s first development in Pinelands, is located right in the heart of this leafy suburb. Known for its large trees and green spaces, you’ll find Pinelands on the edge of the Southern suburbs of Cape Town.
Also referred to as the 10-minute suburb, Pinelands is close to everywhere. Whether you’re on your way to the hustle of Cape Town’s CBD, shopping in Century City, or catching the waves and beach in Muizenberg or Camps Bay – you’ll travel no more than 20 kilometres in either direction.
Within walking distance from Howard Shopping Centre and several schools, PineworX is only 6km from the University of Cape Town, 2,5km from Life Vincent Palotti Hospital and 2,5km from Old Mutual’s head office, which makes it an excellent investment option.
In addition, being the first new apartment building in 25 years in the heart of Pinelands, PineworX is uniquely positioned to offer a sophisticated and modern address in a quiet suburb with every convenience within walking distance. With access control, security by CCTV cameras, Fibre-to-the-Home Wifi and modern finishes, which includes engineered stone tops in the kitchen, your investment in an upmarket block will attract good rental income.
Whether you are an avid property investor, or want to start purchasing properties for an investment portfolio, PineworX is a great option for investors! As an example, if you purchase a one-bedroom apartment for R1 195 000, you can rent it out and only end up paying R1 770* per month.
Let’s look at the numbers:
If interest rates remain around 8%, and you allow for a rental return of about 7% of the investment (purchase price of R1 195 000), then your own contribution after bond repayments, levies and rates could be as little as R1 770 per month* on a one bedroom apartment. Based on the same calculation, a two-bedroom can cost you only R2 700 per month*, depending on the rental achieved.
“If you bought one of the bigger units and you found two students, your monthly contribution could be even less,” says Johan Meyer, Principal at Seeff Pinelands. “There will obviously be some income tax payable on rental income but that should be comfortably offset by the investment growth of the units. Currently second-hand Sectional Title units are growing at around 5% per annum which keeps up with inflation.”
With 40% of PineworX sold out, investors are urged to select their apartments before the development sells out. PineworX will be completed in 2023.
To find out more about PineworX and how you can invest in this great residential block, get in touch with the Seeff Pinelands agents:
Contact an agent to reserve your apartment:
*Based on the assumption of a 30-year bond term, a 90% bond amount to purchase price, with levies and rates deducted.