FAQs

100 Buitengracht Street, Cape Town City Centre

View it on Google Maps: https://maps.app.goo.gl/6kYQw6zyfqVwXijW7

Second quarter of 2027.

• Electric car-sharing available (Residents will have a fleet of electric vehicles waiting for them to use, whether it’s for a trip around town or a weekend getaway.
• Heated swimming pool
• Restaurant and deli
• Reception and Concierge
• Valet parking
• Uber eats delivery
• EV chargers
• Online shopping delivery point
• Biometric access control
• Keyless access
• Pet-friendly bc approval
• Room service
• Porte cochere
• Porters
• Air Conditioning

• Restaurant
• Gym
• Sauna
• Spa
• Laundromat and dry cleaner
• Pharmacy
• Coffee shop
• Deli
• Convenience store
• Co-working space

The Paradigm is short-term rental friendly.

An operator for rentals will be appointed by the developer closer to completion. This is done to mitigate too much traffic within the building itself and ensure a high level of care & accountability.

This is also done to ensure that the day-to-day operations of the building run concurrently to the management of units themselves as opposed to adversely affecting one another.

• Whisper (light) or Serenade (dark) palette options to every apartment. Optional upgrade to Echo and Crescendo palettes from 10^th floor. Price for the upgrade will be based on the size of the apartment.
• Luxury joinery and granite or engineered stone countertops.
• Double glazing to all apartments.

Please refer to the Finishing Schedule for further details.

Download Spec Document

Prepaid electricity.

Water metered per apartment and billed in arrears through levy statement.

• Reception with front desk-personnel, full-time concierge and 24hr onsite security as well as armed response link.
  CCTV security cameras throughout, linked to offsite monitoring.
  Fire detection and fire protection systems.
  Biometric, Smart Electronic door locks and keyless access to units.
  Biometric Smart access to all individual floors.

Basement parking bays available to purchase at R 350 000 per bay.
EV charge stations available.
2 x Exclusive area parking bays included in all apartments from 13^th floor.

Storerooms available for rental

Every apartment is air-conditioned.

Available from The Sourcing Lab and DHKI Interior Design.

Siemens hob, oven, and extractor standard in all apartments.

Siemens integrated fridge is an upgrade and dishwasher, washing machine and tumble dryer as optional extras.

*Renders are artist impressions and are shown with integrated appliances.

*Studios will only have space for one large appliance.

Generator backup power to all apartments.

Targeting EDGE certification

High-speed Fibre connectivity ensures residents have super-fast internet in their apartments. This will be for the owner/residents account and the appointed ISP will need to be contacted to open/activate individual accounts.

Common Wi-Fi to the reception, residents amenities and facilities will be available.

Multiple elevators available

The Paradigm is pet-friendly and pets shall be allowed subject to trustee approval.

• 200m or 2 minute walk from Breë Street
• 300m or 3 minute walk to Loop Street
• 1km or 5 minute drive to Kloof Street
• 3km or 8 minute drive to Oranjezicht Farmers Market
• 2km or 8 minute drive to V&A Waterfront
• 3km or 8 minute drive from Sea Point & Mojo Market

• 450m or 6 minute walk to Greenmarket Square
• 5km or 7 minute drive to the Cape Town Convention Centre
• 6km or 7 minute drive to DHL Stadium
• 5km or 9 minute drive to Green Point Park
• 5km or 10 minute drive to Table Mountain
• 6km or 15 minute drive to Camps Bay Main Beach
• 9km or 14 minute drive to Clifton 1st beach

• 350m or 4 minute walk to your nearest gym
• 1km or 5 minute drive to the nearest pharmacy
• 8km or 8 minutes drive to Christiaan Barnard Hospital
• 5km or 20 minutes drive to Cape Town International Airport

• Sales launch online at 1pm on Wednesday, 31 July 2024 via the interactive price list: https://sales.the-paradigm.co.za/
• Ahead of the sales launch you will be able to view and browse all the available units by visiting the user-friendly interactive price list
• Here you can easily browse the available units and use the filters and sort function to narrow down your search
• On each apartment the layout, all costs and expected rentals are shown
• Once sales go live you can reserve your preferred unit/s

Your shortlist acts as a wish list of units that you have quick access to ahead of and on the launch day. Simply click the ADD TO LIST button on your favourite units. You can also reserve your preferred apartment directly from the Shortlist when sales go live.

To unlock your discount, simply click the green discount button below the price on any apartment and follow the prompts to complete your Buyer Profile & unlock the discount on all units. Once completed, the discounted price will show on the price list.

Terms & Conditions apply.

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 apartment you want to purchase.

1. Register and log in to sales.the-paradigm.co.za
2. Once the countdown reaches zero and sales go live at 1pm, you will be able to Click the RESERVE button on your selected apartment to start the process.
3. Make sure to be quick as others may also be interested in the same unit.
4. Complete the form and accept the terms: Click CONTINUE
5. Your reservation will now move to the pending state where you will have 10 minutes to finalise the reservation.
6. You may now select an additional parking to your purchase if necessary.
7. You will then pay your R10,000 reservation fee via the following methods:
   • Visa or Mastercard
   • Instant EFT via OZOW
   • Masterpass
   • Snapscan
8. Once the R10,000 fee is concluded, your apartment will be reserved!*
9. You will then receive an email from our team confirming your reservation.

Next steps:

• The Agreement of Sale will be sent to you via email, this will need to be signed and returned to us within 48 hours from receiving it.
• The full deposit required is 10% of the purchase price within 3 days from receiving a signed agreement of sale. 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 by either a bond approval, bank guarantee, or cash.
• Alternatively, we will also accept a 30% deposit with the balance payable 60 days prior to the transfer.
• Should you be paying for the apartment in cash, you can also opt for a non-refundable 30% deposit, in which case the balance only needs to be secured two months prior to transfer and completion of the development.

• R100 000 launch day discount
• Best selection of units
• Extremely limited number of units being released by the developer
• Capital appreciation for 30 months while the development is under construction
• Rare opportunity to own in an exclusive Cape Town neighbourhood, with a prime location and proximity to key amenities and tourist attractions

Financed deals

1. Minimum 10% deposit with the balance in the form of a bond approval
   • Deposit to be paid within 3 days from receiving a signed agreement of sale.
   • 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

1. 30% non-refundable deposit with the balance payable to the transferring attorneys 60 days before lodgement
2. Minimum 10% deposit with a bank guarantee for the balance of the purchase price supplied within 21 days of purchase

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 prior to the launch 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.

There is no transfer duty payable but there are transfer fees (attorney costs).

The seller is registered for VAT so there will be no transfer duty but only transfer costs payable.

On a purchase price of R2,299 million, the transfer costs will be R40 142*

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 sectional title and exclusive use area of the apartments, parking and storeroom levies are calculated at a standard rate to be determined.

They cover the costs of security, cleaning & upkeep of the common areas, maintenance of the building, building insurance and all running costs and management costs and insurance of the building.

Monthly rates are based on the value of the property and are calculated based on the value of the property and then multiplied by 0.006344 to get your yearly rates. Divide this by 12 to get your monthly rates.

Example:

(R2,299 million property)
R2,299,000 x 0.006344 = R14 584 per annum
This equates to R1 215 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.

• You are only required to put down 10%-30% of the apartment value when securing your home. The balance is only due 60 days before transfer (on project completion).
• Cape Town sees an average annual capital growth of 8%, so your property value is growing at roughly 8% p.a.
• 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.
• 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 which protects purchasers on new buildings for a 5 year period.

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 = R500 000 (R100 000 per unit, if purchased on launch)
• Final purchase price = R19 368 075
• Deemed purchase price = R10 652 441 (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 R532 622 per year for 20 years.

Total tax write-off = R10 652 441 (over 20 years).

• 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 apartment 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.

Urban Development Zone (UDZ) incentives in Cape Town are part of a South African government initiative aimed at encouraging private sector investment in certain urban areas through tax incentives.

What is it?

The Cape Town UDZ tax incentive is a SARS administered tax incentive encouraging residential and commercial development in certain specified areas in Cape Town, in which Paradigm will be located. The tax incentive offers property owners a tax deduction against taxable income over eleven years and could act as a deferment of tax payable until the apartment is sold.

How does it work?

The purchaser of a redeveloped residential apartment located in the UDZ will be able to claim an income tax allowance. 55% of the purchase price is deductible. The tax allowance is claimed over eleven years at a rate of 20% in the first year and 8% in the succeeding ten years. The tax allowance is recouped on the sale of the apartment for an amount greater than or equal to cost, which can be deferred for as long as the owner holds the property.

Example:

On a residential apartment with a cost of R2 million, the purchaser is entitled to claim a tax allowance of 55% of the cost of the unit, which equals R1 100 000 over eleven years. The R1 100 000 tax allowance is claimed over eleven years at a rate of 20% in the first year and 8% in the succeeding ten years which results in an annual income tax deduction of R220 000 in the first year and R88 000 in the subsequent ten years.

Disclaimer

Please note that the UDZ tax incentive contains a number of requirements which must be met in order to claim the tax allowance. The examples detailed above are of a generic nature and may not apply in certain instances. The developer and its affiliates do not provide tax advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax advice. You should consult your own tax advisors before engaging in any transaction.

UDZ is set for review in May of 2026 by the SA Government.