Apartments selling from R475k in new Paarl estate
La Vie Estate has been launched to address Paarl’s growing need for accommodation, especially the huge demand for quality, affordable apartments.
Studio apartments at La Vie Estate start at R475 000, with spacious one bedroom units selling from R545 000. Click here to view.
JJ Basson of Meridian Realty says the estate is strategically placed in the sub-million top-performing property category in Western Cape, which will ensure excellent growth and rental returns. “La Vie Estate is a win-win for investors looking for a sound capital investment and tenants or residents in and around Paarl looking for a place to call home,” says Basson.
“Situated in a new growth node in the Paarl Winelands, the estate is meeting the need of an area currently experiencing an accommodation shortage.” Basson says most of the 269 sectional title units at La Vie have uninterrupted mountain views, and each will have a dedicated parking facility, with an additional 86 parking spots available.
“Paarl is well-known for its sought-after country lifestyle and proximity to urban centres like Stellenbosch and Cape Town,” says Basson. “La Vie is situated close to the N1 and other feeder routes, making it ideal for daily commutes. The estate is also placed conveniently close to amenities like Paarl Mall and prestigious schools.”
He says property prices at neighbouring blue-chip upmarket estates like Paryskloof and Kleine Parys range from R2.3 million to R6 million, and a recent spike in sales of phases 1 and 2 of the Bergendal /Bergenzicht estates close by had investors sit up and take note of the increasing demand for affordable accommodation in Paarl.
La Vie will offer 24-hour security and low levies. Unlike leisure estates, Basson says La Vie will be unencumbered by hefty levies, offering durable finishes and requiring low maintenance, and individual water and electricity meters will be installed.
Studio apartments at La Vie Estate start at R475 000, with spacious one bedroom units selling from R545 000 to R695 000.
“By using entry-level property as an underlying asset class to create wealth, it is difficult to believe that investors will find a better location for rental yield and demand, market value and sustainable growth,” says Basson.
“First bond repayments are only due on completion. As anticipated completion date is June 2018, the investor gains a year’s growth by buying at today's prices.”
Basson says the projected rental income from these units range from R4 500 to R6 000 per month.
“We offer a one-stop property and investment service whereby we assist investors in managing their property,” he says. “Comprehensive rental solutions are on offer, mitigating rental risk and offering managing solutions, like rental shield.” 80% of the apartments in Phase 1 have been reserved, with Phase 2 set to launch soon.
For more information, or to view the development, click here.
Author: Antonie Goosen