He cites the current socioeconomic situation in South Africa as another strong driving factor in the growing demand for secure lifestyle retirement properties. “More and more people want to retire away from the city and the Winelands is especially appealing as it offers a slow-paced country lifestyle in beautiful surrounds, yet is less than an hour’s drive from Cape Town and a short hop to pristine beaches and popular attractions.” Lew Geffen, Chairman of Lew Geffen Sotheby’s international Realty says that there are a number of key factors contributing to the in the spike in demand for quality retirement property in the Winelands. “Residents will not only enjoy top class retirement facilities including frail care, they will also have access to all the other facilities available on this exclusive estate, which is recognised as one of the most desirable estates in South Africa.” Says Cilliers: “We are very excited to have been appointed joint marketing agents for Val de Vie Manor which is due to be launched in September and already attracting great interest.
In response to the widening gap between demand and supply, one of the Winelands’ most sought-after lifestyle estates has taken the initiative by developing a retirement facility within the existing development. “Their challenge is to acquire suitable land at a reasonable price, otherwise the units become too expensive for older people to afford and will be priced above the general housing market in the area.” “The modern lifestyle retirement village concept is very different to the traditional apartment block old age homes which offered little more than a roof over one’s head and three square meals a day, and requires substantially more development property than previously.” This is according to Chris Cilliers, CEO and Principal for Lew Geffen Sotheby’s International Realty in the Winelands, who says: “The retirement sector of the market was overlooked and undeveloped for many years and, although developers have recognised the yawning gap in the market and are looking to source land, there is now much less available than a decade ago and it is also much more expensive. The rocketing demand for secure lifestyle retirement accommodation in the tranquil Cape Winelands is at an all-time high, with agents reporting a dearth of available stock and long waiting lists at most of the existing developments. Demand for lifestyle retirement properties in the Cape Winelands soars
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