I want to retire here
Why wouldn’t you, when comfort, aesthetics, technology and design come together in modern retirement estate homes?
WORDS: KIM MAXWELL :: PHOTOS: SUPPLIED :: CONTENT PROVIDED BY BUSINESS DAY HOMEFRONT
If there is a growth push in local property, it’s in modern retirement estates that are designed to please. Developers have researched the market and upped the ante, responding to technologically savvy future retirees who travel, enjoy active, fulfilled lifestyles and pursue varied social activities and personal interests. They want to live well too. Here is a summary of retirement categories and some popular estates that are offering unique selling propositions:
EVERGREEN LAKE MICHELLE, CAPE TOWN
Expect tranquil views of mountains and water in this lovely boardwalked multigenerational estate on 90ha in rural Noordhoek. It borders Table Mountain National Park, is surrounded by wetlands and has a lake for swimming and sailing. Evergreen Lifestyle developed 30 retirement homes (110 more are planned) for over-55s on a life rights basis, located among freehold family homes. All residents benefit from top security.
With plots and lifestyle homes built in a 2,500ha nature reserve stocked with nonpredator game, Hopewell is an attractive residential lifestyle option only 20 minutes from town. Eventually 330 units will also be available to retirees (the purchase model is not defined). “Our target market of early retirement buyer will be spending in the R800,000 to R1.5m sector,” says Hopewell GM Kevin Taylor. “Guys selling up in Joburg can’t always afford Franschhoek or the North Coast of KwaZulu-Natal.”
Offering a “five-star lifestyle for the over-50s”, this award-winning Northern Suburbs retirement estate caters for luxury buyers in the R7m price range. A full ownership model buys great views and urban proximity. Tijgerzicht assisted living apartments include lifestyle amenities and a stateof-the-art healthcare centre. Bloemendal and Lebenstijn independent living apartments have been completed, while the Diemerskuijl independent living apartment scheme is now selling and under construction. More accessibly priced properties range from a Tijgerzicht assisted living apartment at R1.367m to an entrylevel independent living apartment at R1.586m.
Heritage Estate in Modderfontein provides a superior community lifestyle for residents over 50 “looking to retire in the timeless elegance of a heritage property built in 1910”. Revamped Heritage House opened in February, with common areas including a lounge, a home theatre, a wellness hub, a library and a business centre. Guided walks are offered at nearby Modderfontein Nature Reserve. This sectional title estate offers 126 stylish, secure lock-up-and-go units fitted with Bosch kitchens. Options include The Firs simplex units, The Oaks apartments and penthouses, and Olive Grove, a new phase to be launched later this year.
Priced from R5.85m for a sectional title apartment in Sea Point, EIGHTONN offers luxury value to an early retiree investor. The urban location and seaside lifestyle suits a more independent resident. Lior van Embden, developer Blok’s sales and brand manager, says EIGHTONN allows for living and working in the city while securing a retirement future on the Atlantic Seaboard. “Our modern apartments accommodate various needs with a variety of floor plans, customisation options and thoughtful design to maximise the available living space,” she says. The development has no frail care unit but a 24/7 care concierge assists with medical requests and manages the deli and rooftop wellness studio. There is internet, security services, water-wise fittings and an on-site building manager.
ALSO TRY: EVERGREEN BROADACRES, JOHANNESBURG
Park-like grounds appeal in a popular suburb in Fourways. Residents get to enjoy homes or luxury apartments via a life rights model. A cuttingedge lifestyle centre includes dining, a heated swimming pool, a library and a salon. Primary, recuperative, frail, dementia and palliative care are also on offer.
BUH-REIN, CAPE TOWN
More than 100 units have been sold at Buh-Rein Retirement Village in the Northern Suburbs – the first residents move in next month. “Many retirement schemes cater only for the upper market. We address this issue by offering well-priced sectional title ownership properties,” says Riaan Roos, Multi Spectrum Property (MSP) CEO. Independent living and assisted living apartments alike are priced from R919,900. Residents have access to the multigenerational BuhRein Estate’s landscaped gardens, running trails and a pool, plus retirement specific domestic and medical services (including dementia care).
Clara Anna Fontein Lifestyle Estate in rural Durbanville offers a slice of farm life in the scenic Durbanville hills, with technologically advanced security. Within this larger lifestyle estate, Oasis Life Clara Anna Fontein caters for retirees with one- to three-bedroom single-level homes with garages, gardens and braai areas. Priced from R2.38m to R5.75m, they’re available only on a life rights model. Advantages include a quality suburban home close to nature, with views and the benefit of home maintenance by developer Rabie Property Group. Residents have access to the estate’s gym, heated pool, tennis and squash courts, as well as an Oasis clubhouse with exclusive amenities.
FONTEINE VILLAGE AT KLIPFONTEIN, MALMESBURY
Located within a multigenerational estate, modern Fonteine Village at Klipfontein Farm Lifestyle Estate is a new rural addition for investors aged 50 or older that capitalises on quality lifestyle amenities with Swartland country views. “Telecommuting is becoming more commonplace and people realise that peace, fresh air, space and a slower pace are very covetable,” says MSP CEO Riaan Roos of the demux-system integrated internet, DStv and on-call facility. Phase three of Fonteine Village’s full-title retirement homes with garages are priced from R1,899,900.
Zevenwacht provides everything a mature resident may want or need in a full title or sectional title model, so investors can benefit from property capital growth. Adjacent to the vineyards of historic Zevenwacht Estate (residents’ discounts on wine and spa treatments are a plus), it offers Winelands views and comfortable accommodation options ranging from lifestyle homes and independent living apartments to assisted living suites and frail care rooms. There is tennis, mountain-bike and running trails, plus a clubhouse with fireplaces, a library and a wooden deck for socialising.
ALSO TRY: LANGEBAAN MANOR, LANGEBAAN
Situated near the West Coast National Park, Langebaan is a popular West Coast attraction for sailing and kitesurfing. As one of the country’s ornithological hot spots, its birdlife is another draw card. Construction of this sectional title retirement development is set to start in 2020. Investing in the first phases now means a pick of the best stands at launch prices and potential long-term growth.
In this KwaZulu-Natal sectional title luxury development, residents have panoramic views of the ocean, and an indigenous forest and Zimbali Country Club golf course on their doorstep. They enjoy a balance between privacy and community lifestyle with access to dedicated trails, conservation and wetland areas, a private gym with a heated pool and more. The estate also offers fibre connectivity and a business centre within a secure perimeter. Phase two of Fig Tree Villas’ three-bedroom homes will be completed in November, priced from R5.295m. Sentinel Hill apartments, for completion in 2021, are selling off plan from R1.795m a unit.
Also on the popular North Coast, Shoreline is billed as the “ultimate coastal retirement opportunity” for active over-50s. Located in the Sibaya Coastal Precinct commercial and residential node, it’s five minutes from 6.5km of beach and close to Umhlanga Village. With 75% of Shoreline Sibaya’s homes sold via sectional title and construction under way, the first transfers take place in October. A key attraction is a planned on-site care centre. Outdoor garden areas include The Village Green for walking, tai chi or yoga; a food garden for green-fingered residents, a meditation garden and a healing garden for convalescent care.
ALSO TRY: PLETTENBERG MANOR, PLETTENBERG BAY
A clubhouse for socialising and access to a private beach, hiking trails, a wetland, bird hides and bowling greens – this retirement estate in Keurboomstrand has it all. Sectional title apartments with fibre connectivity are priced from R1.55m and luxury units from R2.695m.
ON LIFE RIGHTS
- “People need to know they have a quality existence and a solid roof over their heads for the rest of their lives. A life rights option provides this in a more secure way than a sectional title scheme. It gives a buyer and their partner the right to live in a property until the end of their days, without concerns about extra or ever-rising costs.” – Arthur Case, Evergreen Retirement Holdings brand marketing director
- “The life rights model is the most affordable way to buy into a privileged retirement lifestyle. You have a secure home for life, protected by the Retired Persons Act. You save on upfront costs: no VAT, transfer duty or registration costs and only mandatory legal fees.” – Natalie du Preez, Rabie Property Group marketing and communications manager
- “A life right will not increase in capital value the way buying a sectional title property will do – in fact, it’s more like purchasing a life insurance policy – but it can be far more affordable. Ownership of a life rights complex always remains in the hands of the developer, which means the developer is responsible for all maintenance and upgrading costs.” – Cobus Bedeker, Evergreen Property Investments MD
ON SECTIONAL TITLE
- “Sectional title opportunities gain capital appreciation and allow investors to gain a rental income. Those who invested in our earlier developments have seen as much as 30% capital appreciation from securing a unit to subsequent transfer.” – Taryn Fleming, Shoreline Sibaya spokesperson
- “Sectional title ownership allows the buyer to own their unit in the estate and also to sell, transfer or bequeath it. The owner is responsible for municipal rates and taxes and services, and for a general levy to cover the estate maintenance and expenses. These levies differ from estate to estate.” – Aristy Economacos, Heritage Estate spokesperson
- “If someone buys an apartment at De Plattekloof for R1.5m and lives there for 10 years – if we apply only the national capital growth average of 5% – that apartment will be worth R2.443m in 2029. That is just shy of R1m in capital growth.” – Johan Laubscher, Arun Holdings owner