Welcome to Summer Terraces

The Tintswalo Property Group prides itself in developing valuable assets of enduring quality and integrity. The family’s thorough understanding of the unique South African context and its core principles of financial feasibility and sustainability, combined with design and aesthetic vision, consistently make for sound property investment opportunities throughout Southern Africa.

https://www.tintswalo.property/

Established in 1900, STBB is a firm of approximately 90 business-minded lawyers practicing from 12 branches throughout South Africa. By understanding our clients’ needs and objectives, we strive to deliver cost-effective legal solutions for all business and personal matters. We are committed to developing close working relationships with our clients, enabling us to succeed consistently on their behalf. Big represents our reach and professionalism. Small is our personal approach to our work and our clients.

https://stbb.co.za/

Since it was founded in 2000, BetterBond has grown to become the largest bond originator in South Africa, with specialist experience in the property industry and more than 20 branches nationwide supporting our real estate partners and customers. We take special pride in assisting first-time buyers to realise their dreams of homeownership, by offering expert assistance and support at every step of the home loan application process More than a million South Africans have become homeowners thanks to our services and our approval rates are industry leading.

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

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

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

Transfer Duty is a tax levied on the purchase of a property in South Africa over R1 050 000. When purchasing into a new development, the price includes VAT and therefore leading to a substantial saving to the Purchaser as no Transfer Duty is applicable. 

Transfer Costs are the relevant administration and legal costs that a Purchaser would pay to the conveyancer/transfer attorney. In this case this would be STBB.

235 Glencaird Rd, Glencairn, Cape Town, 7975

• Generation School
• Bay Primary
• Cape Point Nature Reserve
• Silvermine Nature Reserve
• Boulders Beach
• Glencairn Beach
• Deep South Eatery
• Pizza Khaya
• Blended Health Cafe
• Kalk Bay
• Harbour Bay Medical Centre
• Advanced Harbour Bay Surgical Centre
• Ocean Edge Fitness
• Harbour Bay Mall
• Eat Surf Yoga
• Glencairn Stables

Summer Terraces is pet-friendly. The ongoing management of this will be for the future home owners to decide.

Completion is estimated for 2025.

• Access control into the estate
• Electric fencing around the perimeter of the estate

After the completion of the reservation and sale agreement, 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.

• Cape Town sees an average annual capital growth of 7%, so your property value is growing at roughly 7% pa but you are only required to put down 10%-30% of the development value when securing your home. The balance is only due on transfer (on project completion). 
• This means you are getting growth on the full purchase price of the property during the marketing and construction period while  only having to put down a fraction of the purchase price at the start of the project. 
• By purchasing into a development, you also save a substantial amount by not paying Transfer Duty on the purchase. For example if you were to purchase an existing property for R6 000 000, you would pay approximately R460 000 just in Transfer Duty. In Summer Terraces, you do not pay Transfer Duty and therefore save R460 000.  
• The benefits of purchasing in a new development also come in the form of guarantees and warranties on the building and appliances. For example the development will be registered with the NHBRC which is a form of insurance in which protects Purchasers on new buildings for a 5 year period.

• Reserve your home online via our website on Launch Day – 5 March 2024  
• Sign your sale agreement
• Pay your deposit to STBB 
• Apply for finance which is to be  secured within 21 days utilizing our in house bond originators BetterBond
• Construction of the estate will commence and you will take transfer upon completion of the development

• Insurances 
• Security 
• Communal electricity & water 
• Landscaping 
• Repairs and maintenance

• Electricity will be billed and measured through pre-paid electricity meters in each home 
• Water will be billed through the City Of Cape Town and will be visible on your monthly municipal account