Demand outstrips supply
HOUSING South Africa’s retired population appears to be the one sector of the residential property market where demand still outstrips supply. Even JSE-listed property funds that traditionally shied away from residential property have over recent times started to add retirement developments to their commercial property portfolios. Those include funds such as Redefine and Acucap.
However, there’s a definite trend away from traditional old age homes built out in the sticks towards integrated lifestyle estates within existing residential and business hubs. Rising life expectancy among the world’s older generation has also meant developers need to focus increasingly on offering facilities where retirees can pursue a more active lifestyle.
Real estate group Amdec Property