In the Northern Suburbs , land is still more readily available and the area can therefore accommodate horizontal sprawl and , with the Western Seaboard being a relatively young area with few retirement facilities and room for expansion , it offers developers more opportunities . With retirement accommodation already being in short supply and waiting lists growing steadily longer at many establishments , particularly the newer developments , the retirement sector is also under pressure from a new but fastgrowing trend .
Further fuelling the growing demand for retirement properties is the fact that investment buying is becoming more prevalent as a growing number of people are planning for their retirement from an earlier age .
These buyers are purchasing homes in which they plan to live at a later stage but , in the meantime , they rent them out which means that not only are they ensuring that their golden years are comfortable at today ’ s prices , but also a sizable chunk of the bond is being covered by the rental return .
“ In several areas like the City Bowl and the Southern Suburbs , developers will have little choice but to develop vertical structures and they will have to be extremely innovative in their design and offerings ”
There are a number of important factors to consider when assembling a site for retirement accommodation , with the most important being location . The marketplace for assisted living will have affordability price points in that over 55 ’ s and general retirement schemes are usually location specific to both the development and its clientele .
SA Real Estate Investor Magazine OCT 2022 183