Steady growth in retirement property investment and development

Steady growth in retirement property investment and development

Aerial view of Stellendale, a self-contained suburb near Kuils River.

There has been a steady increase in retirement property investment and development in South Africa, according to Visual International Holdings, which recently listed on the JSE AltX.

Visual develops mixed-use residential suburbs for the middle-income market – the fastest growing residential property market segment in SA. The company creates much-needed quality housing for aspirant young families, and houses people at all life stages, including retirement.

Visual managing director, Charles Robertson, says the growth of retirement property is a definite global trend, particularly in countries with an ageing population. Although SA has a relatively young population, there is a solid demand for quality retirement property investment options, for owner-occupiers and investors who let their properties.

Robertson says the local proliferation of retirement developments responds to the market’s need for retirement property. And the demand for retirement accommodation will grow as the population ages.

Robertson cites Visual’s Stellendale Lifestyle Retirement Village located in Cape Town’s Northern Suburbs as an unusual, but socially beneficial, way of meeting the growing need for retirements estates.

“The Stellendale Lifestyle Retirement Village forms part of the larger residential component at Stellendale, a self-contained suburb complete with a school and shops. This means that Stellendale is more than a retirement estate, it is an important part of a community,” says Robertson.

South African’s are also increasingly looking at investing in buy-to-let property as part of their retirement savings strategy. Robertson says the primary advantage of this approach is that it allows people much greater control over the benefits they would like to receive when they retire.

He says the popularity of investing in buy-to-let properties is also due to the opportunity for ordinary salary-earning South Africans to steadily build portfolios of property that can deliver a more defined benefit at retirement, as opposed to fixed monthly contributions in which the benefits at retirement have the potential to be somewhat uncertain.

 

 

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