More and more South Africans are investing in retirement lifestyle developments and enjoying superior returns of up to 20% per annum.
With the benefits of excellent security, luxury lifestyle, close-knit community, full ownership and quality medical and nursing facilities on your doorstep, it’s not hard to see why demand for these properties far outstrips supply, says Charl van Niekerk, Central Developments’ Marketing Manager for Celebration Retirement Estate.
“There is incredible investment growth in retirement lifestyle developments, so many people take the opportunity to invest in properties well ahead of retirement age, renting out the units and paying off their bonds until they are ready to retire and use the properties themselves,” he says.
For those looking to scale down a little sooner, Van Niekerk says most retirement lifestyle developments allow residency from 50 years of age. “It really gives people an opportunity to plan in advance for their retirement. They can buy at today’s prices while also getting excellent capital growth of up to 12% and rental returns of up to 8% totalling a return on investment of up to 20% in the process.”
“Perceptions around retirement have changed significantly because people are living longer, healthier and more economically-active lives than ever before. In planning for retirement, people look to buy into an active lifestyle for their silver years with the very best amenities, leisure, social and medical facilities, as well as investment returns. At the same time, no one knows what the future may hold, so frail-care facilities and state-of-the-art security from phase one are probably two of the most important upfront determinants of where to buy your retirement nest,” adds Van Niekerk.
Van Niekerk says Central Developments is currently developing their 12th retirement lifestyle development - Celebration Retirement Estate, just off Malibongwe drive opposite Northgate Shopping Centre in Johannesburg. The estate will offer a range of properties, from one bedroom apartments to luxury three bedroom townhouses, as well as a restaurant and dining room, coffee shop, fibre internet connectivity, medical suites, hair and beauty salon, laundry services, indoor heated pool, post boxes, a convenience store, library, games room, outdoor greenbelt and a social club.
Taking care of future health demands
“There is a lot to think about when choosing a retirement estate, but one of the key things to consider is the ability to meet your changing needs within the same development. Earlier on people are looking for freestanding homes where they can enjoy their garden, the outdoors and their independence. Later on, should their health and physical abilities change, they can move to a smaller apartment and access home-based care while recuperating from a health event, or even move into frail care for 24-hour care if required - all within the same development,” explains Van Niekerk.
Being in South Africa, as with all residential developments, security is another crucial consideration. With advancing age comes increasing vulnerability to opportunistic criminals. Lifestyle retirement estates provide state-of-the-art security measures such as 24-hour security and patrols, access control, perimeter electric fencing, number plate recognition, CCTV surveillance and personal panic buttons, as well as telephone handsets in each unit linking the entire estate to the onsite security and medical services.
When compared with the monthly expenses and upkeep of a house along with all the security costs, maintenance and risks of being isolated in advanced age, Van Niekerk says many South Africans are finding great peace of mind, coupled with outstanding investment returns, by moving to a retirement lifestyle estate.
“Choosing a retirement community is an important decision that involves a lot more than a mere floorplan. It’s about creating the lifestyle that you’ve worked all your life to enjoy, at the pace you choose. It’s about taking care of your social, recreational and financial needs and making sure there is a range of medical care options in place to meet your needs if and when these change,” he says.
“Savvy South Africans have ditched their misconceptions about retirement living and are investing in a service-enriched, secure residential lifestyle that’s all about making their silver years as independent, comfortable and burden-free as possible - with a return on investment of up to 20% per annum to sweeten the deal.”
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