Real Estate Investor Magazine September 2024 Edition | Page 50

By Neale Petersen
RESIDENTIAL

South Africa ’ s Retirem Property Market

poised for growth amid rising se and lifestyle changes

By Neale Petersen

South Africa ’ s formal retirement property market , accommodating 44 000 households , represents a small but significant segment of the country ’ s housing landscape .

While a majority of seniors currently reside in homes purchased earlier in life , the demand for purpose-built retirement communities is on the rise . This trend is driven by a growing senior population , changing lifestyle preferences , and increasing financial security among older adults .

50 REI MAGAZINE SEPTEMBER 2024