Retirement is the fastest-growing residential and investment segment in South Africa at present, resulting in a rigorous shake-up of the sector and its services as we know it.
With the so-called baby boomer generation now set to live up to 25 years longer than their parents’ generation, one of the most pertinent issues is that of how we care for the elderly.
Research has shown that there has been a substantial movement away from the often impersonal and counterproductive frail care services (which are excessively expensive to run and maintain) towards care services that encourage independence in the comfort of one’s own home.
Situated in the acclaimed 1 000-hectare Sibaya Coastal Precinct on the KwaZulu-Natal coastline, Shoreline Sibaya is a retirement estate that offers just that. Developed by Carmel Properties, a division of Carmel Care, this pet-friendly estate is focused on four critical pillars – lifestyle, security, care, and sustainability – and aims to create a more affordable product that does not compromise on quality or lifestyle. Their MyCare Centre forms the heart of the estate and guarantees that residents will be provided with tailored care aimed at supporting independence and ensuring optimum quality of life.
The estate features modern single-level sectional title apartments, that consist of one-, two- and three-bedroomed options, all of which are surrounded by beautifully landscaped gardens, and have access to the MyCare Centre with a registered nurse and 24-hour telephonic support. There is a heated swimming pool, gym and coffee shop, as well as consulting rooms, laundry and kitchen facilities, and a six-bed sick bay for those residents requiring temporary frail care following illness or surgery. In addition, there are also ten easy-living suites, which are owned by the developers and can be rented out to residents who require round-the-clock care.
Once completed, there will be 400 units, built over two phases, with phase one consisting of 223 apartments and occupancy taking place in early 2019. Upon ownership, each resident will receive a full medical assessment and personalised wellness or care plan that are repeated and amended annually.
Every member of the security team is trained in first aid, and there are two panic buttons in each unit, as well as biometric access, cameras and a state-of-the-art control room to ensure the safety and health of each resident.
Sibaya Coastal Precinct provides residents of Shoreline Sibaya with beautiful sea views and an abundance of open, green landscaped areas, including 350 hectares of lush coastal forest and 6.5km of sandy beaches. Those looking for safe, open-air activities can stretch their legs on the 75km of paths, trails, and boardwalks, as well as being within close proximity to world-class shopping centres, entertainment facilities and charming dining experiences.
Investing in the future
Thanks primarily to its competitive property prices, efficient countrywide access via King Shaka International Airport and a relaxed lifestyle with beautiful locations and a warm climate, KwaZulu-Natal is rapidly replacing the Western Cape in becoming South Africa’s number one retirement destination.
Following research which highlights that more than 70% of retirees now look for a property price point of between R 1 million and R 2.5 million, studio apartments at Shoreline Sibaya start at R 1.45 million, with one-bedroomed apartments beginning at R 1.8 million, two bedrooms from R 2.4 million, and the larger three-bedroomed apartments from R 3.4 million.
The exponential growth and interest in retirement property as an investment opportunity is also why the developers have permitted buyers to be of any age, although occupation is only for residents from 55.
This prized location brings capital appreciation expectancy for those looking to the future.
Location is a huge component when it comes to investing in property, and retirement property is no different. Sibaya Coastal Precinct offers the benefit of being positioned close to the sea, forest and convenient retail centres, as well as being within Sibaya Coastal Precinct, which houses some of KwaZulu-Natal’s most expensive freehold stands.
This prized location brings a better capital appreciation expectancy for those looking to the future. The Sibaya Coastal Precinct is an astute property investment, with residential developments expected to enjoy a minimum of 30% capital appreciation between securing a unit and subsequent transfer. This capital appreciation can be further enhanced in the case of an off-plan retirement estate based on demand, and the fact that Shoreline Sibaya is the first retirement estate within the Precinct.
When purchasing off-plan, buyers also benefit from having no transfer duty payments, and Carmel Properties have additionally agreed to cover the levy stabilisation fee of each owner to help reduce upfront costs. Annual levies are based on the square meterage of units, and a proportion of the costs goes towards the services provided by the MyCare Centre.
Whether an investment or a lifestyle choice, Shoreline Sibaya is one of the leaders in the retirement sector in KwaZulu-Natal.