Changing The Game in Retirement

 

These significant increases in the size of this population group, in turn, drive a greater need for suitable housing for the elderly, and developers are responding with newlook accommodation options and innovations to cater to this need.

Retirement property is the next big real estate opportunity, globally and locally, catering to the elderly and their vastly different requirements today when compared to past generations of retirees. In South Africa, villages, and estates worth billions of Rands are currently in development and the industry works fast to deliver in what has been an underserved market.

More and more developers are catching on fast, however, one of South Africa’s largest retirement estate living developers, Evergreen Lifestyle, has already embarked on plans to grow its national footprint tenfold. Evergreen Lifestyle is South Africa’s premium retirement brand and has seven operating villages in the Western Cape and Gauteng, with a further six in the development pipeline. In total, there are an impressive 5 000 units (750 000 m. of housing) and facilities across 13 retirement villages in play, either under construction or in the planning phase, worth a collective R15 billion. As part of its 10-year plan, the company intends to grow its stable to approximately 20 villages, comprising 10 000 units, with a collective value of R30 billion

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