A beautiful mix of one- and two-bedroom boutique and serviced apartments available in Diep River, created by Flyt Property Investment.
The Eaton Square development offers a fantastic investment opportunity, where you could get a 100% tax break when you purchase a serviced apartment that forms part of the Eaton Square rental pool. The Flyt Select Fund gives you a massive tax break and makes you the owner of a preapproved investment apartment. Finance it yourself or get up to 95% funding upon approval. Flyt uses a section 12J company for your investment and you can get up to 45% tax back.
About Eaton Square
Eaton Square is a boutique apartment block based in Diep River and tailored to a convenient, affordable lifestyle while still offering an unparalleled living environment. There are only 66 contemporary sectional title apartments (48 – 64 m²) available, consisting of a mix of conventional apartments and fully furnished serviced apartments. One-bedroom apartments start from R1 426 480, and two-bedroom from R1 685 000.
Apartments have been ergonomically designed by master architect Sebastian van Greunen, with ample floor areas, contemporary kitchens and quality appliances. Each apartment has either a Juliette balcony, full balcony or terrace. Optional furniture packages are available when purchasing conventional apartments, while serviced apartments are fully furnished with carefully selected furniture.
Eaton Square has a convenient restaurant – Wink Cafe – on ground level, and exciting communal spaces which include a bookable braai area and entertainment terraces.
The development has security as well as fast and secure uncapped Wi-Fi, and there is also lift access to all three levels from a secure parking area on the ground level.
About the area
Diep River is an excellent property investment still offering a substantial capital growth opportunity. The suburb is safe, energetic, eclectic and community-oriented, and offers an all-encompassing lifestyle in a neighbourhood that combines old-world charm with a beautiful way of life. The area has easy access to lifestyle amenities and is centrally located with quick access to the CBD, Hout Bay, Noordhoek or Fish Hoek. The property is minutes from hiking, biking and jogging trails and is close to attractions such as the Constantia Wine Route, Tokai Forest and Muizenberg Beach.
As property prices in the Cape have seen consistent growth over the last 3 – 5 years, many popular suburbs have become very expensive. Diep River’s location provides great value for a modest price and is poised for strong capital growth in the coming years, as well as offering attractive initial rental returns.
According to research done by Propstats, Diep River is an “overlooked suburb” and holds promise of long-term capital appreciation.
Eaton Square investment options
There are a number of different options available to you when purchasing an apartment at Eaton Square. You can buy to live, thus enjoying the beautiful amenities and lifestyle at Eaton Square yourself, or you can buy to invest. You’re welcome to acquire a conventional apartment and manage it yourself, however if you’re interested in a hands-off and admin-free solution as well as accessing a tax rebate through a section 12J investment, you can purchase a serviced apartment.
Flyt has recognized that serviced apartments provide consistent real returns to property investors. From the investor’s point of view, rentals and returns are increased by furnishing and letting apartments on a per room basis. The serviced apartments form part of the formal rental pool. The rental pool is fully-managed by an on-site team, and investors have access to a host of benefits such as fully-furnished apartments at no extra cost, quality tenants, lower financial risk, higher returns, and no admin.
Section 12J Investment
Eaton Square’s rental pool qualifies as a Section 12J Investment, allowing investors to write off 100% of the investment amount for tax purposes. This means that SARS will finance up to 45% of the investment (depending on the investor’s marginal tax rate). Individuals, trusts and companies are eligible.
For more information
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