Frequently Asked Questions

Berman Brothers Group (BBG)

Celebrating over 30 years of innovation under construction, commitment, and consistency, the BBG has become synonymous with perfection, elegance and timeless luxury. Each development is uniquely crafted, but what remains constant is execution at the highest level of professionalism and integrity creating lasting value for investors. .

In addition to development, BBG manages an extremely successful Asset Management portfolio, proving that they remain invested in their projects well beyond handover. This ensures that your investment with them is delivered as if it were their own home.

https://bermanbros.co.za/

Robert Silke & Partners

Robert Silke & Partners is an award-winning firm of architects & interior designers specialising in the commercial, hospitality and residential sector. 

With real expertise in large-scale retail, hotels, offices and residential projects, the practice has both the creative edge and the technical backbone to see complex projects through to successful completion.https://www.robertsilke.com/

R+N Master Builders

R+N Master Builders, formerly known as Resnekov & Nielsen, is the Cape’s leading construction company. The legacy of their founding members is one of scrupulous honesty, collaboration, fine craftsmanship and hard work. These unshakeable principles continue to guide them through all of their projects.

https://r-n.co.za/ 

Strauss Daly

Since opening its doors in 1984 Strauss Daly has grown, evolved and modernised to become one of the most prominent and progressive legal firms in South Africa. Their team of experts has extensive knowledge and experience of the property market in South Africa, and pride themselves on efficient, cost-effective handling of property-related transactions. They are on the panels of all major financial institutions.

https://www.straussdaly.co.za/

Ooba

At Ooba, an expert will guide you through the bond process or you can do it yourself if you prefer. Ooba gets all the major banks to give you their best rates. Ooba gives you the best chance of getting your home loan approved.

16 Regent Road, Sea Point, Cape Town

Click the link to view it on Google Maps: https://maps.app.goo.gl/n6ebBUnB4kAMaFhX7 

Construction commenced in March 2024, and is estimated to be completed by year end 2025.

• 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 unit the layout, all costs and expected rentals are shown.
• Once sales launch live on Wednesday, 8 May 2024, you can reserve your preferred unit/s.

Simply click the ADD TO LIST button on your favourite units. You can also reserve your preferred unit directly from the Shortlist when sales launch.

1. All reservations will happen online via the interactive price list.
2. Register prior to launch and log in to sales.dolce-vita.co.za before 1pm on launch day.
3. At 1pm on Wednesday, 8 May 2024 when the countdown reaches zero, sales will go live and a green reserve button will appear.
4. You will be able to secure your preferred unit/s by pressing the green reserve button, following the steps and paying the R10,000 reservation fee.
5. You will then receive an email from our team with the Agreement of Sale for you to sign and return to us within 48 hours.
6. The R200 000 launch discount will apply – Terms & Conditions apply.

Please note:

• There is a possibility of load-shedding during the sales launch and therefore, we urge you to make provisions for this and to make sure you have access to reliable Wi-Fi at 1pm.
• Whilst we have put everything in place to prevent double bookings, sometimes these do happen. So in the unlikely event that the unit you have reserved was also reserved by another buyer, then the unit will be allocated to the buyer who paid their reservation deposit first (this is recorded by timestamp).
• Should the second buyer not find a suitable replacement the reservation deposit will be refunded. We apologise for any inconvenience this may cause.

Buyers who secure a unit/s on launch via the online platform will receive R200 000 off the purchase price. Terms & Conditions apply.

To unlock your discount, simply click the green discount button below the price on any unit 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.

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 unit you want to purchase.

1. Register and log in to sales.dolce-vita.co.za
2. Once the countdown reaches zero and sales go live at 1pm, you will be able to Click the green RESERVE button on your selected unit 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 have 10 minutes to make payment of the R10,000 reservation fee.
6. You may then pay your R10,000 reservation fee via the following methods:
   • Visa or Mastercard
   • Instant EFT via OZOW
   • Masterpass
   • Snapscan
7. Once the R10,000 fee is concluded, your unit will be reserved!*
8. 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 of purchasing the unit.

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 payable within 3 days of signature with the balance payable 180 days prior to the transfer.

Should you be paying for the unit in cash, you can also opt for a non-refundable 30% deposit, in which case the balance only needs to be secured six months prior to transfer and completion of the development.

The deposit is paid into the transferring attorney’s interest-bearing account and your money will earn interest.

• R200 000 launch day discount
• Best selection of units
• Capital appreciation for 18 months is estimated at 10,5% (7% pa) while the development is under construction
• Rare opportunity to own an apartment in an exclusive Atlantic Seaboard neighbourhood

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 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.

To calculate the bond registration and transfer costs you can click on the below link:

Calculate your bond repayments when buying property – property24.com

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

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

To calculate the transfer costs you can click on the below link: https://www.ooba.co.za/home-loan/transfer-cost-calculator/ 

NB: Please select ‘yes’ when it asks if the seller is registered for VAT.

Levies are determined in terms of sectional title and exclusive use areas of the apartments and associated parking and storerooms as applicable. 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, all running and management costs.

Monthly rates 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:

R3,790,000 x 0.006344 = R14 584 per annum

This equates to R1 215 per month

No hidden costs. VAT inclusive, no transfer duty.

Note: Levies, Rates, taxes and CID will be payable by the purchaser from the date of transfer.

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 (when transfer takes place).

The other costs applicable are detailed above and include monthly rates and levies. Bond and transfer costs will be payable prior to registration of your bond and prior to you taking transfer of your unit. The interest that you earn on your deposit during the construction period will largely offset these costs.

After the completion of the development, the transfer process will commence. Occupation will be given as soon as an occupation certificate is in hand and you will be able to occupy or rent out your apartment from the date of occupation.

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 = R1 000 000 (R200 000 per unit, if purchased on launch)
• Final purchase price = R18 868 075
• Deemed cost for S13sex allowance = R10 377 441 (55% of final purchase price)
  5% of the deemed cost may be used as a deduction from your taxable income each year for the next 20 years.
• This works out to a tax deduction of R518 872 per year for 20 years equating to a total tax deduction of R10 377 441 (over 20 years).

Taxpayer Criteria for Section 13Sex:

• The taxpayer must own at least 5 residential units. The deal is recognised once the buyer takes ownership of their 5th new unit and the 5th unit is rented out and earns a taxable income (i.e. all five units must be rented out). A residential unit 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.

1. Cape Town sees an average annual capital growth of 10%, so your property value is growing at roughly 10% pa while you are only required to pay the  10% deposit.
2. This means you are getting growth on the full purchase price of the property and only have to expend a fraction of the price.
3. Efficient letting will ensure that this largely covers the investment property bond expense for you.
4. Your rental income increases every year but bond repayments depending on interest rates generally stay the same and in relation to yearly salary and incomes inflating, the bond repayments become relatively cheaper every year.
5. There is high demand for secure luxury property in Cape Town’s City Centre and Atlantic Seaboard, resulting in a secure long-term investment.
6. The longer it takes to enter the property market the harder it becomes.
7. Property investment is likely to create long-term sustainable wealth and an ever-increasing annuity income.

Smart metered – water and electricity

Each unit will have an independent smart water and electricity meter payable from an App based wallet on your phone.

Hot water generation will be done using variable heat pumps, and supplemented with solar PVT. A 24h domestic water storage reserve will be provided for.

Our preferred short-term rental management company, Propr, offers the essential services you’d expect from a hotel together with the freedom, space, and individuality of a home. The short-term rental projections have been provided by Propr based on existing rentals achieved in similar apartment blocks. Click below of the relevant Unit Type to download the full report with calculations:

PROPR RENTAL PROPOSAL

Furniture packages have been prepared by the Editors and is available with them directly on request.

• Reception with front desk personnel & full-time on-site security as well as armed response link will be provided for. 
• CCTV security cameras and video recording.
• Fire detection and fire protection systems. 
• Smart electronic door locks  and access control.

Smart electronic door locks will be integrated with the building’s access control. These locks allow for remote access control management – ideal for facilitating all types of letting.

Secure basement parking spaces are available to purchase (limited availability) at R350,000.00. Sales are limited to 40 bays.

Limited stores are available on request.

Depending on the unit type air-conditioning units can be selected as an optional extra in the agreement of sale:

• 1 aircon (R40,000.00)
• 2 aircon’s (R80,000.00)
• 3 aircon’s (R120,000.00)

High-quality, durable standard finishes are supplied but should you wish to purchase an upgraded finishing specification, these can be purchased at the following rates:

• Studio (R180,000.00)
• 1-bedroom (R245,000.00)
• 2 bedrooms (R405,000.00)
• 3 bedroom (R490,000.00)
• View Brochure

*The developer reserves the right to alter or substitute any of the items listed in the schedule for another, equal or similar, as per the architect’s or trade appointed professional’s discretion.

There will be a full alternative energy backup (diesel generator).

High-speed Fibre to each unit ensures that residents have reliable internet in their apartments, the Router will be for the owner/resident’s account. The owner/resident will need to contact their preferred service provider in order to activate their connection.

Common Wi-Fi to the reception will be provided.

Yes, there is lift access serving all floors.

Apartments smaller than 50 sqm are limited to 1 pet per apartment.

Apartments 50 sqm or more are limited to 2 pets per apartment.

*Subject to body corporate approval

Following the resounding success of Sea Point’s Station House venture in 2022, which introduced The Nines and Sonny and Irene to the Kove Collection family, Kove Collection is once again poised to redefine luxury hospitality at Dolce Vita.

The latest jewel in Kove Collection’s portfolio, a 5-star hotel, will feature an exquisite rooftop restaurant offering a modern luxury dining experience. This seamlessly complements the upscale living experience offered by BBG’s Dolce Vita residential apartments.

Consisting of 60 meticulously curated ocean-facing rooms, a hotel pool terrace, a gym and spa, the 5-star hotel promises to elevate the Atlantic Seaboard’s hospitality landscape. Furthermore, Kove Collection will introduce an exclusive cocktail lounge and a vibrant streetside lifestyle component to enrich the fabric of the Sea Point community.