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Coastal: Where to buy retirement property

Many over-50s are now semigrating to secure lifestyle estates on or near the coast, here we take a closer look at retirement property

EXT Debbie Hathway, Tracy Ann van Blerk and Kim Maxwell PHOTOGRAPHS Supplied

Semigration to the coast has been an ongoing trend for a number of years now. The term refers to people who move within the country in search of a slower, more outdoorsy lifestyle away from the big city. Many over-50s are now semigrating to secure lifestyle estates on or near the coast.

GARDEN ROUTE

Home to some of South Africa’s most desirable and scenic locations, with an exceptional lifestyle offering, it’s not surprising the Garden Route enjoys high appeal. “In recent years, there’s been a marked trend towards people relocating for a better quality lifestyle in a tranquil and secure environment on this spectacular coastline,” says Pam Golding Property Group CEO Andrew Golding. Depending on the location, residential property can be acquired from below R2 million up to R30 million-plus.

Devmark Residential Holdings director Jean Ehlers singles out Plettenberg Bay for “an excellent return on investment”. The town has two Blue Flag beaches, plus strict town planning to prevent high-rise buildings. When it comes to retirement property specifically, The Plettenberg Manor offers eight accommodation types, designed in the Cape vernacular style. “Plettenberg Manor is popular because of its beautiful surroundings, excellent security, direct access to a private beach, hiking trails and bowling greens,” says Ehlers.

IN DEMAND

Golding points out that residential property in George is always in demand. Aside from the well-known Fancourt, George also has prestigious lifestyle developments nearby such as Kingswood Golf EstateKraaiboschOubaai and Welgelegen Estate. Of course, not every retiree buys into a development labelled “retirement estate”. “Our research shows that 62% of recent Fancourt residential property investors were mature buyers. Fancourt appeals to retirees,” says Pam Golding Properties George area manager Stephen Murray

Our research shows that 62% of recent Fancourt residential property investors were mature buyers Stephen Murray, George area manager, Pam Golding Properties

CAPE TOWN AND SURROUNDS

“Cape Town enjoys the legacy of a well-run municipality, which includes great infrastructure, well-maintained roads and a strategy of striving towards a positive symbiosis between the public, businesses and local government,” says Rabie Property Group director John Chapman. In the Northern Suburbs, De Plattekloof Lifestyle Estate is proving to be a premium full-ownership retirement address. Independent apartments are priced from R1.586 million, and Exquisite Homes from R5.425 million in a full ownership model. “For those currently doing their research on where best to retire, De Plattekloof’s luxury homes set a new benchmark for retirement living, with meticulous attention to detail applied during the planning process,” says Johan Laubscher of Arun Holdings. Multigenerational Clara Anna Fontein Lifestyle Estate is a popular choice in semi-rural Durbanville.“Retiring in Oasis Life Clara Anna Fontein offers owners a slice of farm life, with the security and benefits of an estate located in a traditional suburb setting,” says Chapman.

Fancourt Montagu

ADDED VALUE

Buh-Rein Retirement Village makes for a financially smart retirement investment with added value thanks to a host of features and amenities. Located in Buh-Rein Estate in the Northern Suburbs, the retirement village welcomed its first residents in August. Case says the Cape has always been attractive from a property investment perspective. “Many seniors follow their children who have already relocated to the Cape for an improved lifestyle for their young families.” Evergreen Muizenberg is an established village with 260 homes and apartments, a 2 000 m2 lifestyle centre and amenities that include a heated indoor pool.

“It’s close to the ocean as well as shops and services in Muizenberg, Lakeside and Fish Hoek. Homes are set in landscaped gardens and the village boasts an active social programme,” says Case. Its life rights-model two-bedroom and two-bathroom apartments sell from R1.7 million. Some new three-bedroom, two-bathroom homes with garages are available from R1.8 million on Evergreen’s flexible pricing model.

HOLIDAY LIFESTYLE

Devmark is selling full-title homes, also close to the sea, in the West Coast holiday town Langebaan, which is about an hour-and-a-half drive from Cape Town. The Langebaan Manor retirement development will offer authentic West Coast architecture across the board from apartments to three-bedroom homes. At The Village at Langebaan Country Estate, retirees enjoy full retirement benefits while being part of a vibrant community where the luxurious clubhouse is at the heart of village life. Zevenwacht Lifestyle Estate is a sought-after choice for retirees keen on a country-coastal lifestyle on the outskirts of Stellenbosch. “An estate exclusively for those 50 years and over, it offers unsurpassed views,” says Multi Spectrum Property spokesperson Werner Scheffer. This boutique estate offers retirees freestanding lifestyle homes, independent-living apartments and assisted-living suites on either a full-title or sectional title purchasing model, with the potential of seeing above-average capital growth.

Zimbali Lakes

KWAZULUNATAL

Retire KZN’s latest research shows that South Africans over the age of 50 don’t like the word retirement. “In fact, many of you over 50 will not consider an estate if it has the word retirement in it; even if it is on par with modern, luxury lifestyle estates,” reports Retire KZN in a September blog post. Yet plenty of retirees have taken the plunge and been pleasantly surprised. The common denominators: good home design and site layouts plus various amenities. Security, technological innovations and capital growth are often part of the package.

This province has seen a surge in retirement developments after a drive to attract over-55s. “We noticed this trend some two years ago and responded by purchasing prime land in Umhlanga Ridge and Zimbali Lakes near Ballito. We also hold prime land in Hilton,” says Evergreen Retirement Holdings director Arthur Case. “The Midlands with its mild climate has always been a retirement destination for KwaZulu-Natal and Gauteng retirees, and the North Coast is gaining popularity.” Evergreen should commence construction of these “world-class estates” towards the end of 2020.

Pam Golding Properties area principal for Durban Coastal Gareth Bailey says enjoying a carefree lifestyle with facilities and services at hand is a selling point. “Newer offerings along our coastline include Mount Edgecombe Retirement Village in Kindlewood Estate, which will ultimately comprise 260 homes. Also on the North Coast, Palm Lakes Estate near Ballito is experiencing an upward sales curve. Palm Lakes Retirement Village offers tailor-made retirement packages, from spacious full-title to sectional title units. Lazuli Lifestyle and Retirement Estate spokesperson Kevin Fisher calls Port Zimbali “a true gem” on this coastline. “It presents a unique way of life, especially for those entering or in their retirement years – with its pleasant climate, top golf courses, beautiful beaches, upmarket shopping and nearby amenities, it really does have it all,” he says. Lazuli residents can invest in modern homes with panoramic sea, wetlands, indigenous forest or inland views. Lock-up-and-go Lazuli Lifestyle Apartments are selling off-plan, with estimated completion in mid-2021.

With its pleasant climate, top golf courses, beautiful beaches, upmarket shopping and nearby amenities, it really does have it all Kevin Fisher, spokesperson, Lazuli Lifestyle and Retirement Estate

RETIREMENT HOTSPOTS FOR WEALTHY SOUTH AFRICANS

Source: South Africa Wealth Report 2019, AfrAsia Bank and New World Wealth

  • Ballito and surrounding villages make up South Africa’s “luxury residential estate capital”. The area is home to Zimbali, Simbithi, Brettenwood and Dunkirk estates, among others.
  • Hermanus is a retirement hotspot for wealthy Johannesburg and Pretoria semigrants.
  • Knysna is a top retirement destination. Residential estates here include Pezula, Simola and Thesen Island.
  • George, also among the most popular retirement options in the country, is home to residential estate Fancourt.

De Plattekloof

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