Facts & Frequently Asked Questions

33 Regent Road, Sea Point, Cape Town
View on Google Maps

Estimated completion is set for Q4 2027

• Apartments will come with standard finishes, as well as the option to upgrade.
• Air conditioning and double glazing included with each unit.
• Two colour themes will be available to choose from.
• Furniture packs will be available at an extra cost.
• Upgrade packs will be available at an extra cost.

• The ground and first floor will be reserved for retail and a restaurant which will be able to be enjoyed by all tenants. 
• Basement parking.
• Laundry room available within the building.
• Certain units include private swimming pools: 
  • Unit 321
  • Unit 322
  • Unit 325
  • Unit 327
  • Unit 524 (also includes a jacuzzi)
  • Unit 526 (also includes a jacuzzi)
  • Unit 801
  • Unit 802

Standard metered

• State-of-the-art security & biometric access control
• 24-Hour on-site security & concierge service
• CCTV to all common areas
• Back-up power in common areas

Yes, Propr has been appointed by Quorum to prepare a short-term rental proposal for the building and it is recommended that buyers make use of their services. 

Buyers are however able to rent their units as preferred, with no restrictions in place apart from the Body Corporate and Management Rules.

Yes.

Yes.

Yes.

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.

• Sales are live via the interactive price list: https://sales.dear-jean.co.za/.
• Browse all the available units by visiting the user-friendly interactive price list.
• There you can use the filters and sort function to narrow down your search.
• On each unit the layout, all costs and expected rentals are shown.
• Reserve your preferred unit/s online with a reservation fee.

Your shortlist acts as a wish list of units that you have quick access to. Simply click the ADD TO LIST button on your favourite units. You can also reserve your preferred unit directly from the Shortlist.

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.

1. Register and log in to sales.dear-jean.co.za.
2. Click the RESERVE button on your selected unit to start the process.
3. Complete the form and accept the terms: Click RESERVE
4. Your reservation will now move to the pending state where you will have 10 minutes to finalise payment of the reservation fee.
5. You will then pay your non-refundable R10,000 reservation fee via the following methods:
   • Visa or Mastercard
   • Apple Pay
   • Masterpass
   • Snapscan
6. Once the R10,000 fee is concluded, your unit will be reserved!*
7. You will then receive an email from our team confirming your reservation. *Ts&Cs apply.

Next steps:

• The Agreement of Sale will be sent to you via email, this will need to be signed and returned to us within 3 business days.
• The full deposit required is 10% of the purchase price within 7 days from the signature date. The deposit is paid into the transferring attorney’s interest-bearing account and your money will earn interest for you.
• The balance (90%) will need to be secured within 21 days from the signature date by either a bond approval, bank guarantee, or cash.
• Alternatively, we will also accept a 30% non-refundable deposit (paid within 7 days from signature date) with the balance payable 60 days prior to the transfer.

Financed deals

• Minimum 10% deposit with the balance in the form of a bond approval
  • Deposit to be paid within 7 days from receiving deposit instruction from the transferring attorneys.
  • The deposit is paid into the transferring attorney’s interest-bearing account and your money will earn interest for you.
  • The balance (90%) will need to be secured within 21 days with bond approval.

Cash deals

• 30% non-refundable deposit
  • Deposit to be paid within 7 days from receiving instruction from the transferring attorneys.
  • The deposit is paid into the transferring attorney’s interest-bearing account and your money will earn interest for you.
  • The balance to be paid 60 days prior to lodgement/handover once written instruction has been received from the transferring attorneys.

Yes, the deal is subject to your bond being approved and should it not be approved the deposit is paid back to you with interest. If you are unsure if you can afford the bond it is a good idea to get pre-qualified as the R10,000 reservation fee is not refundable.

Bond repayments will only commence after the development has been completed and once the transfer of the apartment you have purchased, has taken place.

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

The Seller is registered for VAT so there will be no transfer duty but transfer costs (attorney fees) will be payable.

On a purchase price of R2,85 million, the transfer costs will be R53,051*.
To calculate the transfer costs you can click on the below link: https://www.betterbond.co.za/calculators/bond-and-transfer/
NB: Please select yes when it asks if the seller is registered for VAT.
*Please note these are subject to change

Levies are determined in terms of the sectional title and exclusive use area of the apartments. Levies are calculated at a standard rate to be determined.
They cover the costs of security, cleaning and upkeep of the common areas, maintenance of the building, building insurance and all running – and management costs. 

Monthly rates are based on the value of the property and are calculated based on the value of the property and then multiplied by 0.007159 to get your yearly rates. Divide this by 12 to get your monthly rates.

Rates include COCT rates & CID levy.

Moreover, residential properties enjoy a rebate of R450,000 of the property’s municipal value, provided the total value is R5 million or less. For properties exceeding R5 million, a nominal R15,000 rebate applies.

Example: R2,85 million property

• R2,850,000 – R450,000 = R2,400,000 taxable value
• R2,400,000 x 0.007159 = R17,181.60 per annum
• This equates to R1,431.80 per month

No hidden costs. VAT inclusive, no transfer duty. Rates, taxes and CID will apply.

The contract price is the price the client will pay for the property. You must be aware that there is occupational interest due from the date you take occupation until you take ownership (transfer takes place).

The other costs applicable are detailed above and include monthly rates and levies. Bond costs will be payable prior to registration of your bond once you take transfer of your unit. Transfer costs at this point will also be applicable but these costs are largely offset by the interest that you earn on your deposit during the construction period.

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.

1. Cape Town sees an average annual capital growth of 8%, so your property value is growing at roughly 8% pa but you are only required to put down 10% of the development value.
2. This means you are getting growth on the full purchase price of the property and only have to put down a fraction of the price.
3. Your tenant is largely paying off your investment property & bond for you.
4. Your rental income increases every year but bond repayments generally stay the same and in relation to yearly salary and incomes inflating, the bond repayments become relatively cheaper every year.
5. There is high demand for secure luxury property in Cape Town’s City Centre and Atlantic Seaboard, resulting in a secure long-term investment.
6. The longer it takes to enter the property market the harder it becomes.
7. Property investment is likely to create long-term sustainable wealth and an ever-increasing annuity income.

Investors 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 (do not all have to be from the same development), to claim up to 55% of the purchase price as a tax deduction.

Example:

• Purchase five units at a total purchase price of R19,868,075
• Minus the launch discount = R1,000,000 (R200,000 per unit, if purchased on launch)
• Final purchase price = R18,868,075
• Deemed purchase price = R10,377,441 (55% of final purchase price)
• 5% of the deemed price may be used as a tax deduction per year

This works out to a tax deduction (tax write-off) of R518,872 per year for 20 years.
Total tax write-off = R10,377,441 (over 20 years).

Taxpayer criteria for Section 13Sex

• The taxpayer must own at least 5 residential units. The deal kicks in once the buyer takes ownership of their 5th new unit. 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 have been purchased 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.
• Please consult your tax advisor for further clarification and information.