A major shift in the ageing paradigm has precipitated an equally dramatic transformation in the retirement sector in recent years, with current accommodation expectations worlds away from the conventional model.

“The traditional concept of apartment block-styled old age homes which offer little more than a room and three-square meals a day now falls far short of needs and expectations which range from active lifestyle estates to residential villages that offer frail care,” says Maritz, Co-Principal of Lew Geffen Sotheby’s International Realty in Cape Town’s Southern Suburbs.

“Today’s active retirees expect top-class lifestyle amenities and, instead of single rooms, they are wanting self-contained, low maintenance units that afford them more independence and freedom.

“To meet these changing needs, developers have shifted their focus to create a more holistic offering with an emphasis on lifestyle, wellness and vitality within secure communities and in most areas these properties are in high demand and short supply with long waiting lists at many retirement developments.”

However, Maritz says that development in this sector is curtailed by two key factors: “It has become a challenge to acquire suitable tracts of land at a reasonable price in order to keep the price per unit within an affordable range and in line with the general housing market of the area.

“And, at the same time, construction is also much more expensive, especially to build the popular modern lifestyle retirement villages with individual homes and all their amenities – and of course these developments require far more land than the traditional apartment block-style old age homes.”

With demand and construction prices continually growing, it will become increasingly difficult to secure suitable and affordable retirement accommodation in the years to come and Maritz believes that investing in their retirement property as soon as possible is one of the smartest investments one can make.

“Investing in these developments at an early stage not only enables you to purchase your future retirement home at today’s prices, it also gives people the opportunity to plan for their old age and ensure that their capital investment holds its value, and often, even increases in value.

“And, if you buy freehold rather than life rights, early investors can rent them out until the time comes for them to retire, thereby subsidising their investment and minimising monthly bond repayments.”

One such development which recently launched for sale off plan is Imhoff Manor in Cape Town, Kommetjie’s first ever retirement village which is set to fill a significant gap in the market.

“More and more people want to retire away from the city and Kommetjie is especially appealing as it offers a slow-paced seaside village lifestyle in scenic surrounds whilst being only being a 40-minute drive from the city and an hour from the airport,” says Natalie Cooper, Area Specialist for Lew Geffen Sotheby’s International Realty.

“Everything they could want is literally on their doorstep, from a variety of restaurants and quaint shops to beautiful beaches, numerous wine farms, scenic hiking and biking trails and fishing and surfing spots and in very close proximity are amenities like shopping centres and hospitals.

Situated within Imhoff Lifestyle Estate, Imhoff Manor comprises a collection of two and three-bedroom architecturally designed luxury homes with large patios and, once complete, amenities will include a medical centre offering medical and care services as needed, a swimming pool, a clubhouse and state-of-the-art security.

“All the designs options are light, bright and contemporary and thoughtfully designed with high-end, low-maintenance finishes and open plan interiors that can accommodate mobility aids which allows residents to comfortably age in place.

“Homes are also very accessibly priced between R3 550 000 and R5 550 000 and, with completion due in three years, it gives buyers the opportunity to purchase their future retirement homes at today’s prices.

“And, having already established 11 retirement estates The Devmark Property Group are pioneers in this sector with decades of experience in developing and managing retirement estates so buyers can rest assured they are making a secure investment.”