TEXT Kim Maxwell PHOTOGRAPHS Supplied
If there is a strong growth push in local property, it’s in modern retirement estates that are designed to please. Developers have researched the market, and are responding to technologically savvy future retirees who travel, enjoy an active lifestyle, and pursue diverse social activities and personal interests. They want to live well, too. We’ve put together a selection of retirement estates in Gauteng, KwaZuluNatal, the Eastern Cape and the Western Cape that offer unique selling propositions.
“Many retirement schemes cater only for the upper market. We address this issue by offering well-priced sectional title ownership properties” Riaan Roos, CEO of Multi Spectrum Property (MSP)
Langebaan Lagoon is a popular West Coast attraction for sailing and kite-surfing. Construction of this sectional title retirement development is set to start in 2020. Investing in the first phases now means a pick of the best stands at launch prices and potential long-term growth.
LAZULI LIFESTYLE & RETIREMENT ESTATE, PORT ZIMBALI
In this sectional title luxury development, residents have panoramic views of the sea, and Zimbali Country Club is on their doorstep. They enjoy a balance between privacy and community lifestyle, with access to dedicated trails, conservation and wetland areas, a private gym with a heated pool and more. The estate also offers fibre connectivity and a business centre within a secure perimeter. Phase two of Fig Tree Villas’ three-bedroom homes, priced from R5.295 million, will be completed in November. Sentinel Hill apartments, for completion in 2021, are selling off plan from R1.795 million per unit.
SHORELINE SIBAYA, UMDLOTI
Also on the popular North Coast, Shoreline is billed as the “ultimate coastal retirement opportunity” for active over50s. Located in the Sibaya Coastal Precinct commercial and residential node, it’s close to 6.5 km of beach and to Umhlanga. With 75% of Shoreline Sibaya’s homes sold via sectional title and construction under way, the first transfers take place in October. A key attraction is a planned on-site care centre.
THE PLETTENBERG MANOR, KEURBOOMSTRAND
Access to a private beach, hiking trails, a wetland, bird hides and bowling greens… This retirement estate on the Garden Route has it all. Sectional title apartments with fibre connectivity are priced from R1.55 million and luxury units from R2.695 million.
Located in a multigenerational estate, Fonteine Village is a new rural addition for investors aged 50 and older that capitalises on quality lifestyle amenities combined with views of the Swartland. The facility offers an integrated fibre solution that includes a telephone service, internet connection and DStv. Phase three is now selling, and prices for a full-title retirement home with a garage start at R1 899 900.
ZEVENWACHT LIFESTYLE ESTATE, BETWEEN KUILS RIVER AND STELLENBOSCH
Zevenwacht provides everything a mature resident may want or need in a full title or sectional title model, so investors can benefit from property capital growth. Adjacent to Zevenwacht Wine Estate (residents’ discounts on wine and spa treatments are a plus), the estate offers accommodation options ranging from lifestyle homes and independent living apartments to assisted living suites and frail-care rooms. There are tennis courts and mountain-bike and running trails, plus a clubhouse with fireplaces and a library.
EVERGREEN LAKE MICHELLE, NOORDHOEK
Expect tranquil views of mountains and water in this lovely multigenerational estate on 90 hectares in rural Noordhoek. It borders Table Mountain National Park, is surrounded by wetland, and has a lake for swimming and sailing. Evergreen Lifestyle developed 30 retirement homes (110 more are planned) for over-55s on a life rights basis, located among freehold family homes. All residents benefit from top security.
HOPEWELL CONSERVATION ESTATE, PORT ELIZABETH
With plots and lifestyle homes built in a 2 500-hectare nature reserve stocked with non-predator game, Hopewell is an attractive residential lifestyle option only 20 minutes’ drive from town. Eventually, 330 units will also be available to retirees (the purchase model is not defined). “Our target market of early retirement buyer will be spending in the R800 000 to R1.5 million sector,” says Hopewell GM Kevin Taylor. “Guys selling up in Joburg can’t always afford Franschhoek or the KwaZulu-Natal North Coast.”
BUH-REIN RETIREMENT VILLAGE, CAPE TOWN
More than 100 units have been sold at Buh-Rein Retirement Village in the Northern Suburbs. “Many retirement schemes cater only for the upper market. We address this issue by offering well-priced sectional title ownership properties,” says Riaan Roos, CEO of Multi Spectrum Property (MSP). Independent living and assisted living apartments alike are priced from R919 900. Residents have access to the multigenerational Buh-Rein Estate’s landscaped gardens, running trails and a pool, plus retirement-specific domestic and medical services, including dementia care.
OASIS LIFE CLARA ANNA FONTEIN, DURBANVILLE
Clara Anna Fontein Lifestyle Estate in rural Durbanville offers a slice of farm life in the scenic Durbanville hills, with technologically advanced security. Within this larger lifestyle estate, Oasis Life Clara Anna Fontein caters for retirees with one- to three-bedroom single-level homes with a garage, garden and braai area. Priced from R2.38 million to R5.75 million, they’re available only on a life rights model. Advantages include a quality suburban home close to nature, with views and the benefit of home maintenance by developer Rabie Property Group. Residents have access to the estate’s gym, heated pool, tennis and squash courts, as well as an Oasis clubhouse with exclusive amenities.
ON SECTIONAL TITLE
“Sectional title opportunities gain capital appreciation and allow investors to gain a rental income. Those who invested in our earlier developments have seen as much as 30% capital appreciation from securing a unit to subsequent transfer.” – Taryn Fleming, spokesperson for Shoreline Sibaya
“Sectional title ownership allows the buyer to own their unit in the estate and also to sell, transfer or bequeath it. The owner is responsible for municipal rates and taxes and services, and for a general levy to cover the estate maintenance and expenses. These levies differ from estate to estate.” – Aristy Economacos, spokesperson for Heritage Estate
“If someone buys an apartment at De Plattekloof for R1.5 million and lives there for 10 years – if we apply only the national capital growth average of 5% – that apartment will be worth R2.443 million in 2029. That is just shy of R1 million in capital growth.” – Johan Laubscher, owner of Arun Holdings
DE PLATTEKLOOF LIFESTYLE ESTATE, CAPE TOWN
Offering a “five-star lifestyle for the over-50s”, this awardwinning Northern Suburbs retirement estate caters for luxury buyers in the R7 million price range. A full ownership model buys great views and proximity to the city. Tijgerzicht assisted living apartments include lifestyle amenities and a state-of-theart health-care centre. Bloemendal and Lebenstijn independent living apartments have been completed, and the Diemerskuijl independent living apartment scheme is now selling and under construction. More accessibly priced properties range from a Tijgerzicht assisted living apartment at R1.367 million to an entrylevel independent living apartment at R1.586 million.
HERITAGE ESTATE, JOHANNESBURG
Heritage Estate in Modderfontein provides a superior community lifestyle for residents over 50 “looking to retire in the timeless elegance of a heritage property built in 1910”. Revamped Heritage House opened in February, with common areas that include a lounge, a home theatre, a wellness hub, a library and a business centre. Guided walks are offered at nearby Modderfontein Nature Reserve. This sectional title estate offers 126 stylish, secure lockup-and-go units fitted with Bosch kitchens. Options include The Firs simplex units; The Oaks apartments and penthouses; and Olive Grove, a new phase to be launched later this year.
Priced from R5.85 million for a sectional title apartment, EIGHTONN offers luxury value to an early retiree investor. The urban location and seaside lifestyle suits a more independent resident. Lior van Embden, developer Blok’s sales and brand manager, says EIGHTONN allows for living and working in the city while securing a retirement future on the Atlantic Seaboard. “Our modern apartments accommodate various needs with a variety of floor plans, customisation options and thoughtful design to maximise the available living space,” she says. The development has no frail-care unit, but a 24/7 care concierge assists with medical requests and manages the deli and rooftop wellness studio. There is internet, security services, water-wise fittings and an on-site building manager.
EVERGREEN BROADACRES, JOHANNESBURG
Park-like grounds appeal in a popular suburb in Fourways. Residents get to enjoy homes or luxury apartments via a life rights model. A cutting-edge lifestyle centre includes dining, a heated swimming pool, a library and a salon. Primary, recuperative, frail, dementia and palliative care are also on offer.
ON LIFE RIGHTS
“People need to know they have a quality existence and a solid roof over their heads for the rest of their lives. A life rights option provides this in a more secure way than a sectional title scheme. It gives a buyer and their partner the right to live in a property until the end of their days, without concerns about extra or ever-rising costs.” – Arthur Case, brand marketing director at Evergreen Retirement Holdings
“The life rights model is the most affordable way to buy into a privileged retirement lifestyle. You have a secure home for life, protected by the Retired Persons Act. You save on upfront costs: no VAT, transfer duty or registration costs and only mandatory legal fees.” – Natalie du Preez, marketing and communications manager at Rabie Property Group
“A life right will not increase in capital value the way buying a sectional title property will do – in fact, it’s more like purchasing a life insurance policy – but it can be far more affordable. Ownership of a life rights complex always remains in the hands of the developer, which means the developer is responsible for all maintenance and upgrading costs.” – Cobus Bedeker, MD at Evergreen Property Investments