Frequently
Asked Questions
Who is the developer?
WCB Property Developers
www.wcbdev.co.za
Who is the architect?
How do I purchase an apartment?
Sales Live date 9th August 2024 at 12:00. Complete reservation process with R5 000 payment methods.
An agreement of sale will then be emailed to you by the agents assigned to you, which you’ll need to sign and return to your assigned agent within 24 hours. (Please note electronic signatures are not allowed) You as the buyer then have 7 days to pay your deposit of R5k into the conveyancer’s (BMH Attorneys) trust account. The funds held in trust will accrue market-related interest in the favour of you, the purchaser, until the development is transferred in 2025. You will need to secure the balance of the purchase price within 21 days from the date of signature. This can either be secured through a bond approval, a bank guarantee or cash.
Alternatively, we will also accept a 30% deposit with the balance payable 60 days prior to transfer in 2025.
When is the completion date?
Is there back-up power?
Yes, For building emergency. However an inverter can be added to the sale price for an additional amount. Will be included in OTP.
Are short term rentals/Airbnb permitted?
How do I reserve an apartment?
Simply visit www.twenty1.co.za just before 12:00 midday to reserve your preferred apartment as soon as sales go live at 12:00.
All reservations will happen online via the interactive price list.
The below list outlines the steps you’ll need to be familiar with in order to have the best chance of securing the unit you want to purchase.
Register and log in to www.twenty1.co.za Once the countdown reaches zero and sales go live at 1pm, you will be able to Click the RESERVE button on your selected unit to start the process.
Make sure to be quick as others may also be interested in the same unit. Complete the form and accept the terms: Click CONTINUE.
Your reservation will now move to the pending state where you have 10 minutes to make payment of the R5 000 reservation deposit.
You may then pay your R5 000 reservation deposit via the following methods:
- Instant EFT to BMH
Once the R5 000 deposit is concluded, your unit will be reserved!*
You will then receive an email from our team confirming your reservation.
Next steps:
The Agreement of Sale will be sent to you via email, this will need to be signed and returned to us within 48 hours of receiving it.
The full deposit required is R5k within 7 days of purchasing the unit.
The balance will need to be secured within 21 days by either a bond approval, bank guarantee, or cash.
Alternatively, we will also accept a 30% deposit with the balance payable 60 days prior to the transfer.
Should you be paying for the unit in cash, you can also opt for a non-refundable 30% deposit, in which case the balance only needs to be secured two months prior to the transfer and completion of the development.
How do I qualify for the R100 000 launch discount?
Complete your Buyer Profile to activate your discount at www.twenty1.co.za
On the launch day 9th August 2024 reserve your unit/units
The discount applies to each unit you purchase.
Sign and return the Agreement of sale within 24 hours of receiving it and pay the deposit within 7 days.
Get your finance approval within 21 days (natural person) and 30 days (company) from the acceptance of your agreement of sale.
*If finance is not approved and the deposit is not received within the above-mentioned time frame then the launch discount will no longer be applicable.
What security does the property offer?
- 24-hour manned security
- 24-hour off-site monitoring
- Biometric access controls
- Video intercom to each unit
- CCTV surveillance and on-site monitoring
Is there parking?
Parking is now included in purchase price.
Please contact your dedicated sales agent for further information.
What investor returns are there?
Historically, capital growth in an area like the CBD has seen an average of around 7% per annum, plus a rental return of about 7,5% gives you an annual return of 14,5% per year which is an almost unbeatable investment.
In short, you can own an apartment for just R1 599 per month – see calculations below which are based on a R1 050 000 apartment:
- You get a R100 000 discount if purchased on launch day meaning the purchase price is now R950 000
- Bond cost (90%) – R 8 680 per month (Prime lending rate)
- Rates and levies – R1 485 pm
- Total monthly cost – R10 165 pm
- Estimated monthly rental for 2027 – R8 566pm (Long term)
- Your monthly contribution – R1 599 pm
Benefits of buying on launch include:
- R100 000 off the asking price on launch day
- No transfer duty
- No transfer fees
Lift Access
Is Electricity and water prepaid?
Are there Furniture and Appliance packs available? Can this be financed?
Are there Transfer Duty Fees?
Are there any investment highlights?
- R100 000 Launch Discount
- High long and short-term rental demand in the Rosebank area
- R25 000 Reservation Deposit
- No transfer duties
- Projected net yields up to 9,47% pa
- Short build time with expected completion Q2 2025
section 13Sex of the income tax
Investors still have access to powerful tax incentives, including the popular Section 13sex of the Income Tax Act No 58 of 1962. This scheme enables any taxpayer who owns five or more new, residential rental units, to claim up to 55% of the purchase price as a tax deduction. (Deductible over 20 years)
How It Works
- Purchase five units at R1,5 million each = R7,5 million
- Discount = R375 000 (R75 000 per unit, if purchased on launch)
- Final purchase price = R7,125 million
- Deemed purchase price = 55% of final purchase price (R3,918,750)
- 5% of the deemed price may be used as a tax deduction (residential building allowance).
- This works out to a tax deduction (tax write-off) of R195,937.50 per year for 20 years.
- Total tax write off = R3,918,750 (over 20 years)
Taxpayer Criteria for Section 13Sex:
- The taxpayer must own at least 5 residential units. A residential unit refers to a building or self-contained apartment, mainly used for residential accommodation with the exclusion of structures used for business purposes, for example, hotels
- All units must be situated in South Africa
- Residential units must be new and unused. (For example, buyers of flats that had previously been occupied would not qualify for this incentive.)
- The units must be used solely for the purpose of trade (i.e. residential letting). This prevents housing claims for personal use
