Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za

Surge in demand for upmarket retirement housing

Evergreen Lifestyles on retirement villages

Arthur Case, Chief Executive Officer of Evergreen Lifestyles

The prevailing idea of retirement housing is the stereotypical old age home: a hospital-like environment. But, says Arthur Case, CEO of retirement accommodation provider Evergreen Lifestyle, things are changing, largely owing to South Africa’s large, growing population of elderly people, which has created a gap in the market.

A particular trend in South African property generally is the rise in the development of residential estates, as more and more consumers are buying homes in lifestyle communities that provide all amenities in one space. This was evident in a recent report by AfrAsia Bank and New World Wealth entitled The top 10 residential estates in South Africa.

Most notable in this report is a list of the top 10 luxury retirement estates across South Africa, highlighting this model as a new choice for retired middle-income citizens. Three of the estates featured are Evergreen Lifestyle Villages.

Evergreen Lifestyle Villages are located in some of the most beautiful parts of the country and offer a comfortable, quiet and private life while availing easy access to amenities for their retirees. With Villages in Johannesburg and the Western Cape, Evergreen is able to attract more middle-income retirees, who would otherwise not have been able to afford this kind of housing, since the pricing, based on the Life Right Model, makes these homes more affordable than comparable freestanding or sectional title properties.

“We’re definitely seeing an increase in the demand for upmarket retirement housing in South Africa, especially with the consistent rise in life expectancy in the country over the past ten years,” Case says.

He explains that the Amdec Property Group, after identifying this growing section of consumers, established Evergreen Lifestyle, a division specifically focused on the provision of retirement accommodation. Now, leading financial services firm, PSG, has endorsed this perception through its purchase of a 50% stake in Evergreen, showing confidence in this solution to the missing gap in retirement housing.

The features of the retirement villages that add to their appeal include the quality lifestyle, good security, and affordability. While in freestanding homes, security is often a concern, especially as people age; communal living in estates allows for far better security.

“In addition, access to medical facilities is important for people in the future, and this is something offered by the retirement lifestyle villages, “ he adds

Evergreen’s unique application of the Life Right Model to the acquisition of retirement property, as opposed to outright purchasing, is another element that’s changing the perception of retirement living.

“A Life Right provides the retiree with secure accommodation throughout their life, and that of a spouse, without them having to take responsibility for the maintenance of the property.

“The type of housing estate which Evergreen Lifestyle is developing is certainly addressing the needs of many older people, and will impact positively on the retired community in years to come,” Case says.



Latest


04 Aug 2020
Advice for insurance entrepreneurs

“Being battle hardened is what makes you hungry for success. Growing up in a house where your parents can’t cover…

Advice for insurance entrepreneurs

“Being battle hardened is what makes you hungry for success. Growing up in a house where your parents can’t cover the school fees and the family car has broken down for the umpteenth time, makes you focus on what you really want to change in your life.” says Alex Simeonides,…

01 Aug 2020
Achieving balance is not as easy as 60/40

By: Tumi Loate: Investment Team Member, 36ONE Asset Management A simple and traditional balanced portfolio, which allocates 60% to equities…

Achieving balance is not as easy as 60/40

By: Tumi Loate: Investment Team Member, 36ONE Asset Management A simple and traditional balanced portfolio, which allocates 60% to equities and 40% to bonds (a 60/40 allocation) irrespective of the cycle, has produced more than satisfactory returns for global investors over the last two decades. Importantly, however, these returns have…

01 Aug 2020
2020 – a rollercoaster ride

By: James Klempster, CFA, Director of Investment Management, Momentum Investments How to sum up 2020 so far?  A rollercoaster is…

2020 – a rollercoaster ride

By: James Klempster, CFA, Director of Investment Management, Momentum Investments How to sum up 2020 so far?  A rollercoaster is probably the best way to describe it; both from an emotional perspective but also in terms of what the markets have been up to. Over the first quarter, market participants went…

30 Jul 2020
Income protection could be the best investment you ever make

According to the recent Stanlib Savings Report 2020, Covid-19 has highlighted how unprepared South Africans are for unforeseen financial shocks…

Income protection could be the best investment you ever make

According to the recent Stanlib Savings Report 2020, Covid-19 has highlighted how unprepared South Africans are for unforeseen financial shocks – and left without a steady income flow, many have had to dip into long-term savings to fund day-to-day expenses. Part of the reason is that South Africans tend to…


Top stories


10 Apr 2020
When the going gets tough, farmers are on familiar territory

South African farmers are old hands at adapting to uncertain and daunting circumstances, and our local agricultural industry has proved…

When the going gets tough, farmers are on familiar territory

South African farmers are old hands at adapting to uncertain and daunting circumstances, and our local agricultural industry has proved to be most enterprising in acclimatising to challenges as they arise.

13 Apr 2020
Investors should keep a reasonable investment allocation outside of SA

MoneyMarketing asked Roland Gräbe, the head of Tailored Fund Portfolios at Old Mutual Wealth, about offshore investments in the COVID-19…

Investors should keep a reasonable investment allocation outside of SA

MoneyMarketing asked Roland Gräbe, the head of Tailored Fund Portfolios at Old Mutual Wealth, about offshore investments in the COVID-19 environment and what form a global market recovery will take.

13 Apr 2020
SA’s Proposed Covid-19 Disaster Management Tax Relief

The National Treasury recently issued the draft Disaster Management Tax Relief Bill (Bill) for public comment by 15 April. The…

SA’s Proposed Covid-19 Disaster Management Tax Relief

The National Treasury recently issued the draft Disaster Management Tax Relief Bill (Bill) for public comment by 15 April. The draft Bill, together with its explanatory memorandum, provides clarity with regards the tax relief measures President Cyril Ramaphosa announced on 23 March.

11 Apr 2020
Finding investment opportunities among the many COVID-19 risks

With many countries around the world in lockdown as they try to contain the spread of the COVID-19 virus, the…

Finding investment opportunities among the many COVID-19 risks

With many countries around the world in lockdown as they try to contain the spread of the COVID-19 virus, the global economy is facing an unprecedented situation of balancing health against financial livelihoods.