Estate Living Digital Publication Issue 3 March 2015 | Page 27

RETIREMENT LIVING

prices in the region remain competitive
and offer value for money.
“One of the main aims of this expo is to
give key industry players an opportunity
to come together and throw light on
some of the misconceptions buyers
might have as well as showcasing the
large array of offerings available to the
retired,” explains Rob. As an example,
people often think that they can only
purchase a property in a retirement
estate after turning 65, but most
estates of this nature actually allow for
home owners to be over 50.
“Over the years, we have noticed a
shift in the market,” says Rob. Whereas
previously a home purchase just
before or during retirement simply
involved economising or downscaling
from a large family home to a more

manageable smaller home, in recent
times, a combination of efficient
healthcare and significant medical
advances has meant that people
are now living longer. As a result, the
demand for greater lifestyle, financial
and investment opportunities is
forever increasing too.
Whilst residential estates and gated
communities offer good quality, secure
living arrangements, Rob is quick to
point out that not all of the lifestyle,
golf and equestrian estates in South
Africa want old people living in their
developments.
“The older community have a different
set of needs and wants in comparison
to younger families and it is because of
this that we are seeing more and more
retirement estates being developed

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across the county. A retirement estate
is fast becoming more of a lifestyle
choice for the retired,” he says.
As well as attracting the growing
domestic market, South African
retirement estates attract a number
of foreigners, who want to spend their
retirement in the predominantly warm
climate. “The life right option is an
extremely viable option for overseas
investors,” says Rob.
Life rights are a widely practiced and
requested retirement model in more
mature markets worldwide, including
America, which is the world market
leader for retirement villages. Unlike
sectional title developments, an
advantage of life rights is that it is not a
property transfer, so there are no bond
registration fees or transfer duties and