Oxford Rise Hout Bay

Frequently Asked Questions

DEVELOPMENT TEAM

THE DEVELOPERS

Vunani Properties

Established in 2003, Vunani Properties has a distinguished track record in both commercial and residential developments. Currently, they have developments totaling R400 million under construction, reaffirming their commitment to quality and innovation in property development.

https://vunanicapitalpartners.co.za/properties-commercial-property-vunani-properties/

THE ARCHITECTS

Stephen Forster Architects

TRANSFERRING ATTORNEY

Frank Holland Attorneys

https://www.fha.law.za/

BOND ORIGINATOR

BetterBond

https://www.betterbond.co.za/

DEVELOPMENT FACTS

Address

10 Oxford Street, Hout Bay, Cape Town

View it on Google Maps: https://maps.app.goo.gl/vR6CQ4hNF9HNvZxR7

KEY NEARBY LOCATIONS

• Chapman’s Peak Drive – 6km
• Chapmans Peak Hotel – 2km
• Woolworths Mainstream Mall – 1.4km
• Constantia Wine Route – 13.8km
• Camps Bay – 12.5km
• Llandudno Beach – 5.5km
• Hout Bay Beach & Harbour – 850m
• Hout Bay Market – 2.2km
• Cape Town CBD – 18.6km

ESTIMATED COMPLETION DATE

Construction is expected to start in October 2024 and is expected to be completed in September 2025.

PRE-PAID ELECTRICITY

Each unit will have an independent prepaid electricity meter. There are green measures in place in the form of solar-powered geysers.

WATER SUPPLY

Each unit will have a separate water meter.

SECURITY FEATURES

Electrified perimeter fencing
Gated access control
CCTV & off-site monitors
Garage/s for every home
Secure parking for at least 2 cars for every home

PARKING

There is secure parking for at least 2 cars for every home. Garage/s for every home.

BACKUP POWER SOLUTIONS

Small inverters are included as standard with each unit.

HIGH-SPEED WI-FI

High-speed Fibre connectivity ensures residents have super fast internet in their apartments, this will be for the owner/residents account. The owner/resident will need to contact the service provider in order to obtain the ISP.

PET POLICY

Small pets are allowed.

GENERAL PURCHASE QUESTIONS

BOND PRE-QUALIFICATION AND PRE-APPROVAL

This can be done online by using the BetterBond indicator. It is a quick process to estimate the approximate amount you could qualify for. This is however NOT a bond approval.

ONCE MY BOND IS APPROVED, WHEN DO I START PAYING?

Bond repayments will commence once the property has been transferred to your name and the bank has settled the payment to the seller.

BOND REGISTRATION COSTS

Bond costs are payable at the time that the bond registers, once the development is complete.

TRANSFER DUTIES

There is no transfer duty payable but there are transfer fees (attorney costs). On a purchase there is either Vat or Transfer duty, not both. The seller is registered for VAT so there will be no transfer duty but only transfer fees (attorney costs) payable.

WHAT ARE THE TRANSFER FEES?

Example: On a purchase price of R4,29 million the transfer costs will be R72,132*

*Please note these are subject to change.

WHAT DO THE LEVIES INCLUDE?

The levies cover the costs of security, garden maintenance, and general common area maintenance.

RATES

Rates are based on council valuation. The estimated rates are from R2,198 – R2,774.

ARE THERE ANY HIDDEN COSTS?

There are no hidden costs.

WHEN WILL WE BE ABLE TO MOVE IN/ FIND A TENANT?

After the completion of the development, the transfer process will commence. Occupation will be given as soon as an occupation certificate is granted. You will be able to occupy or rent out your apartment from the date of occupation.