New Inclusionary Housing Development Launches in Diep River

    Activist organisation Ndifuna Ukwazi supports the launch of a new affordable housing development in Diep River marketed by Seeff that promotes an Inclusionary Housing Policy.

    Last year, the Western Cape Government established the Inclusionary Housing Policy Framework to address the province's spatial inequality and housing challenges. This new policy also gained extensive support from the activist organisation Ndifuna Ukwazi. According to Western Cape Minister of Local Government, Environmental Affairs and Development Anton Bredell, the new framework provides more affordable and inclusionary housing in well-located areas within Cape municipalities.

    One of these new developments is Tutili Place, located in Diep River, Cape Town; one of the high-demand locations in Cape Town's southern suburbs. 

    Tutili Place Heavily Supported by Ndifuna Ukwazi

    Tutili Place is one of the first new developments launched in Diep River, Cape Town, that promotes the Inclusionary Housing Policy. The activist organisation Ndifuna Ukwazi heavily supported the development's establishment. Ndifuna Ukwazi works alongside the local municipality body to actively encourage land justice, access to well-located land and affordable housing opportunities for those in need.

    South African Innovation in Affordable Housing

    Seeff Southern Suburbs Managing Director James Lewis states that Tutili Place is "an innovative mixed-use development" with 71 apartment units; 83% (59) are inclusionary units. Tutili place is the ingenuity of leading property developer IT71, who worked on five other successful projects. Seeff Southern Suburbs partnered with Linomatha Properties to market available properties in the development.

    Tutili Place Amenities:

    Tutili Place offers residents a variety of fantastic benefits; potential residents can choose between Studio and One-Bedroom Apartments that come with modern interiors and balconies. Those residing in the development have ample garden space and easy access to inside parking bays. The development also features a drying yard and more than adequate security, complete with gated access control and a security house with in-house guards.

    Tutili place exceeds the extra mile by providing additional on-site amenities, including:

    • Grocery store
    • Restaurant 
    • Laundromat
    • Internet Cafe 
    • Hair and Nail Salon

    The surrounding suburb of Diep River borders Plumstead, Heathfield and The Vines, and many residents consider it a hidden gem owing to the excellent convenience its location provides, such as:

    • Main Road Access
    • Proximity to Diep River Station
    • Nearby False Bay beaches
    • Proximity to good schools

    A Great Investment Opportunity

    Tutili Place is also drawing considerable interest from potential investors who could buy and rent out units for R6000 to R7000. This interest is partly due to the increased interest and demand from first-time buyers and young professionals seeking a lock-up-and-go lifestyle. Those looking to downscale for convenience might also consider Tutili Place as it provides secure living with minimal maintenance since the development's body corporate manages the grounds and exterior.

    Seeff Intern Property Practitioner Chad Belcher confirmed that Diep River is a remarkable investment. Lightstone data shows that properties in the development continue to appreciate, with a third of recent buyers under 35 years and a further 48% of buyers under 49 years.

    Approved Financing Paths Available

    Belcher added that Tutili Place is selling off-plan and bank-approved mortgage loans are available for interested buyers. Studio units start at R694,000, while one-bedroom apartments start from R830,000 (these prices include VAT). Buyers and investors have no transfer duty costs to pay for the development, and levies remain low, sitting between R500 to just over R900 depending on the unit.

    Becher concluded that the local property market enjoyed one of the most robust phases over the last year, with total transfers well ahead of the pre-pandemic period and close to the previous mini-boom in 2015/6. This knowledge affirms that the area is an excellent investment, and we expect high demand for apartments

    Tutili Place is a massive innovation and a shining example of affordable housing and investment opportunities in high-demand areas. The development caters for almost all buyer considerations, including cost, security and simple financing paths. 

    Interior of Tutili Place in Diep River

    You can contact Seeff today if you want more information on this incredible development. If you enjoyed this article, you might consider reading our article on a modern, contemporary development in the heart of leafy Pinelands, Cape Town.

    Author: Seeff Property Group
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