Estate Living Magazine Estate Living Issue 29 May | Page 22

Bringing
Florida to
the East
Coast of
South
Africa
The figures are telling and are likely to cause a huge strain
on retirement living conditions and an already significant
shortfall in frail care living. It goes without saying that the
demand for retirement products will continue to grow
exponentially as the number of retirees also increases.
In South Africa, this has meant a huge and rather sudden
demand for retirement housing opportunities, especially
by those aged between 50-65, who see the realities of
the market and find retirement opportunities even more
desirable. More established retirement estates within
KwaZulu-Natal especially for example, already have waiting
lists that range from 1 to 25 years.
Tongaat Hulett, a well-established developer that has been
working in the region for the last 35 years has noticed the
gap in the market for retirement homes in the KwaZulu
South Africa, like
the rest of the world,
is experiencing
a burgeoning
growth within the
retirement sector. Natal region and capitalised on the opportunity.
Research shows that people are living much longer now than Edgecombe Retirement Village when they commenced with
they did a decade ago, with most people surviving 25 years
longer than their parents. Worryingly, the amount of over 65s in
the world is expected to triple by the year 2050, to approximately
1.5 billion, equating to 16 percent of the world’s population.
22 | www.estate-living.com
After
conducting extensive research into the retirement market,
they made a strategic decision to launch the Retire KZN
campaign almost 18 months ago.
The aim is to identify, create and share with the public
retirement developments within the region. , They have
established a community of almost 3 000 online members.
The initiative has, for a start, helped to facilitate the
commencement of two new retirement developments in
KwaZulu-Natal, and in doing so, injected approximately
R1 billion in retirement investments into the local economy.
The first development to officially break ground was Mount
construction of their care centre and 110 units as part of
Phase One in 2017. The development, which is presented
by Collins Residential, sits within the meandering hills of
Kindlewood Estate