Estate Living Digital Publication Issue 3 March 2015 | Page 28

28

RETIREMENT LIVING

no VAT is payable. The property never
becomes an asset and, therefore,
cannot be bequeathed in a will;
however, a capital repayment (which
varies from contract to contract) is still
made to the estate upon resale of the
property. Yet it still remains extremely
popular, due mainly to the elimination
of stress caused by managing
and maintaining one’s home. The
developer remains the sole owner of
each unit and, therefore, carries the
responsibility of maintenance and the
upkeep the property – which suits
both foreign investors and retired folk
extremely well.
The expo is funded entirely by the
exhibitors and received good backing
from all organisations that were
approached. Organisers have been
planning the expo for months and are
quick to stress that their motivation is
not profits from the expo itself – the
aim is to bring service providers and
the general public together in one
venue. To ensure that this i