RETIREMENT SECTOR
Value of properties
Ivins-Downes says , “ The data clearly shows that while many South Africans over 60 own their homes , there ’ s a significant gap in the availability of formal retirement housing options . While we have identified around 650 retirement complexes , these only accommodate a small percentage of the senior population . This highlights the need for more diverse and accessible retirement housing solutions , particularly in the affordable segment .”
Additionally , approximately 13 % of the stock was developed after 2020 , and just more than 25 % were built before 2000 , with the balance being built in between ( see graph below ).
Age of stock
Some 35 %, or 15 000 properties , are in Estates ( gated communities with a shared access / exit gate ), and 65 %, or 29 000 , are in Sectional Schemes .
Sales over the last five years
A total of R29 billion has been spent on more than 15 000 properties at an average price of R1.9m in retirement complexes over the past five years ( see four tables below ).
While sales have mostly occurred in Gauteng , Western Cape and KwaZulu-Natal , the Western Cape has had the highest average sales prices .
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