Retirees want to live with family members
INTEGRATION with other generations instead of being isolated is a factor many seniors are beginning to seek, says Clive Mantle of Senior Exposure.
And while young families might find the owner price tags in the CBD quite high, the demand for rental is fast increasing for this end of the market, as the central city moves towards a multi-generational mix.
A dipstick online residential survey conducted by the Cape Town Central City Improvement District for its 2016 investment guide, The State of Cape Town Central City Report, noted that one out of every five respondents had children living with them – just under 20% of all those who took part.
While the majority of these families indicated between one and two children living in the home, there was a reluctance among respondents to indicate the ages, says the editor of the report, Carola Koblitz.
“But, quite a few indicated that they had children ranging from 4 to 13 years of age – the school-going years.”
Noting that the primary residential group with the new 169-unit residential component of the Radisson in Riebeek Street was primarily “young in terms of occupants”, David Cohen, managing director of developer Signatura, confirmed that several of the units were rented by families with young children. They had been attracted not only to the family-friendly amenities of the building, such as the pool and hotel services that extended to babysitting, but also to the proximity of schools situated in and around the CBD.
More seniors choose life with younger family members.