. Blue Rise Village is the best buy-to-let property investment opportunity offered by IGrow in Cape Town according to Jacques Fouché, the group’s CEO and property investor.
Residents of Blue Rise Village can enjoy a modern clubhouse. GRAPHIC: Nicolette Cronje.
“We believe, by far, this is the best development in Cape Town. We believe there is nothing that will beat this based on the net return and value for money,” Fouché said.
Located in the suburb of Sunset Glen, Blue Rise Village is promising up to 11.7% net return on investment. Cash purchasers can also make use of an additional 15% discount on their purchase.
Units are available from a cash price of R426 087. This is up to 49% cheaper than the area’s average selling price, said Gerhardt Jooste, the IGrow developer in charge of Blue Rise Village.
“Our property is priced 49% better than the competition, that is because of the price of the land,” Fouché started.
“We got the land basically at a zero value. This means we can afford to produce by far the best-priced and quality property, I believe, this area has ever seen,” he elaborated.
Home sweet home
According to Fouché, investors in Blue Rise Village will be purchasing more than just a unit, but a home for their tenants.
What makes Blue Rise Village truly unique is its meticulous design. Made for the long-term investor, it can accommodate an array of modifications Fouché emphasised.
“The houses come with amazing extension options. People who are going to be buying here, they’re probably going to be staying here forever. They can build a garage and many other facets,” he said.
Jooste echoed these claims. In more detail, he explained that this scenario suits entry-level investors who may only afford a one-bedroom house.
“If you’re a first-time purchaser and you can only afford a one-bed house, you can later add a second bedroom, an en-suite bathroom, or a garage in the future” he explained.
Positive cash flow and FLISP
Whether the investor opts for 80, 90, or 100% bond financing they are due to make a cash surplus from the first day of their investment, claimed Fouché.
“If you consider the prime interest rate, you are going to be cash-flow positive from the first day,” he said.
Fouché further highlighted that the more properties the investor is able to purchase the more passive income they will receive for their investment.
Investors in Blue Rise Village may be eligible for a FLISP subsidy, no paybacks. These are issued by the government to assist first-time buyers when purchasing a home. GRAPHIC: Nicolette Cronje.
In addition to these gains, investors can potentially make use of a FLISP subsidy according to Jooste.
“Depending on what you earn you can get R121 626 subsidy, free without any payback,” he clarified before urging potential investors to check their eligibility by visiting the Blue Rise Village landing page.
A location on the rise
Jooste was also keen to point out that the Austinville area is ripe for property investment.
Data provided by the Tenant Profile Network (TPN) indicated the number of property sales in the area has been declining since 2017. Conversely, the average purchase price for property has only risen in the same period.
“When volumes of sales go down you see a climb in the average purchase prices. This is because the demand is getting more because there aren’t many properties available,” Jooste explained.
Furthermore, the area itself is in a prime position to be easily accessible to key regions of the Cape. In particular, Cape Town International Airport, Bellville, Kuils River, and Stellenbosch are all within easy access from the development.
“The fantastic thing is we have a huge area where a lot of people work on the doorstep of Blue Rise Village,” said Jooste.
The average house in the surrounding area of Austinville has experienced 138% growth over the last nine years. SOURCE AND GRAPHIC: Lightstone.
For Fouché, however, this area is indicative of IGrow’s strategy to provide investors with quality houses in high-growth areas.
“Part of the IGrow model is acquiring the right type of assets that can as quickly as possible turn into a positive cash flow. Now with these incredible interest rates, prime location, and other factors Blue Rise Village is one of the best property investment opportunities for many years to come,” he said.
To secure your investment at Blue Rise Village, and find more information, book a free consultation with one of our property investment strategists by clicking here. Once you fill out the contact form at the bottom of the page, a property investment strategist will be in touch with you within the next 24 hours.