It’s no secret that our life expectancy has increased considerably in recent years, meaning there is a growing demand for suitable retirement options – especially those in coastal towns with beautiful facilities.
According to research, South Africans are living an average of four years longer than before, and the global retirement market is expected to grow by $454 billion in the next four years.
Both national and international trends also indicate that more and more people are choosing lifestyle villages and secure community-based living, meaning the traditional model for retirement villages no longer necessarily meet the needs of this market.
So, what are these buyers looking for? Secure and convenient living in close proximity to services and amenities like a shopping centre, outdoor fitness and wellness facilities, green spaces and private gardens.
Coastal towns remain a favourite for retirees and empty-nesters looking for a relaxing and fulfilling lifestyle, and design and architecture trends tell us the demand for open-plan layouts and warm, functional spaces is high. As expected, health care access is also high on the priority list (as well as pet-friendly spaces).
KZN-based award-winning development company, Devmco Group, considered both international and local trends when designing Capri Village, which is the perfect example of this in-demand style of living. Situated on the KZN North Coast, construction of the first phase is nearing completion, with the second phase selling fast.
Devmco director, Charles Thompson, says buyers are looking to simplify their lives while remaining active and engaged in their communities, and within close proximity to their families.
“This is why our multi-generational living option for people over 50 has been so well received within the Sibaya Node. Security remains a top priority, and the Salta Sibaya estate, which Capri Village falls within, includes state-of-the-art security infrastructure and technology.”
Adding further weight to the value of this growing market when placed within a multi-generational living context, Charles says recent studies by Lightstone show that sectional title homes within a secure estate achieve a 31% price premium over homes sold outside of an estate.
“The over-50s market is vibrant and full of life. We believe it’s an area that investors should be paying close attention to because the potential for growth is significant and the demand for quality retirement developments is only set to increase.”
Capri Village, he says, is designed for convenient and easy living, catering to the needs of retirees, empty-nesters and those looking to build their perfect life-long home. “The facilities include a clubhouse, gym, heated indoor swimming pool, library and a bowling green. Residents can enjoy independent, step-free living, pet-friendly homes with private gardens and discreet, professional medical services, state-of-the-art security and incredible estate facilities.”
This type of development, it seems, offers the exact answer to the market’s growing demand for a product catering to the key needs of over 50s.
Details: Stands and 2-,3- and 4-bedroom homes at Capri Village start from R1 295 000 for land, and from R2 705 000 for homes. 087 550 1300, www.saltasibaya.co.za/#capri_village.
