New KZN coastal retirement apartments from R1.45m

31 May 2017, Wednesday

This was featured on Property24 (https://www.property24.com/articles/new-kzn-coastal-retirement-apartments-from-r145m/25883)

31 May 2017

 

New KZN coastal retirement apartments from R1.45m KwaZulu-Natal’s premier residential node, Sibaya Coastal Precinct, has officially introduced its first retirement estate, Shoreline Sibaya.

“Developed by Carmel Properties, a division of Carmel Care, Shoreline Sibaya features modern single-level sectional title apartments, which consist of one, two and three bedroom options,” says Wicus Jacobs, Director of Carmel Properties.

Having partnered with Retire KZN, a Tongaat Hulett Developments initiative, Jacobs says Carmel Properties has gained incredible insight into the retirement market, giving them the opportunity to design a product that talks directly to the needs of the market.

Interestingly, Jacobs says research highlights that 29% of KwaZulu-Natal’s retirement market are interested in retiring to the Sibaya Coastal Precinct, while 76% of retirees are looking for a price point of between R1 million and R2.5 million, factors synonymous with Shoreline Sibaya, and which already differentiates it from other retirement estates.

“With the Retire KZN data, coupled with our independent research, we have been able to understand the needs of the over 55s market, from a local and international standard. Shoreline Sibaya has focused on creating a more affordable product that does not compromise on quality or lifestyle, with apartments starting from R1.475 million,” says Jacobs.

“In addition, and in line with being conscious of the needs of the retirement market, Carmel Properties have gone one step further by covering the levy stabilisation fee of each owner to reduce upfront costs.”

In developing Shoreline Sibaya, Jacobs says Carmel Properties has focused on four critical pillars, namely lifestyle, security, care, and sustainability.

“This has ensured that the estate focuses on providing an engaging lifestyle with beautiful sea views, an abundance of open, green landscaped areas, and an array of facilities,” says Jacobs.

“With convenience and practicality incorporated into every aspect of this secure, pet-friendly estate, an array of care services is provided by the onsite MyCare Centre, which will be built within phase one.”

He says the MyCare Centre will guarantee that residents will be provided with tailored care aimed at supporting independence and ensuring optimum quality of life, and will be under the supervision of a registered nurse during office hours, with 24-hour telephonic support.

“The purpose of Shoreline Sibaya is to create a holistic lifestyle for our residents, and by doing so encourage them to live an active, social lifestyle,” says Jacobs.

“While Shoreline Sibaya promotes this connected and purposeful lifestyle through beautifully landscaped gardens, and the incorporation of the community centre, the Sibaya Coastal Precinct echoes the lifestyle we are trying to encapsulate, making this the ideal location for retirees.

According to Jacobs, additional research from Retire KZN has indicated that 17% of people are looking at retirement property from an investment perspective.

“With convenience and practicality incorporated into every aspect of this secure, pet-friendly estate, an array of care services is provided by the onsite MyCare Centre, which will be built within phase one,” says Jacobs. For those looking to the future, he says the Sibaya Coastal Precinct is seen as an astute property investment, with the first residential development having launched at R28 000 per square metre merely 18 months ago, and the most recent one achieving as much as R40 000 per square metre – which is an unprecedented 42% increase, highlighting the capital appreciation opportunity related to a retirement development within the node.

“Investors who have purchased other residential options within the precinct, have done so expecting to see between 20% and 30% growth in the value of their property between securing the units and the transfer based on the demand of the node,” says Stefan Botha, Director of Rainmaker Marketing.

“It is expected that this would be further escalated in the case of an off-plan retirement estate, based on the demand and scarcity of stock.”

Encouraging an active, outdoor lifestyle, Botha says Sibaya Coastal Precinct provides residents of Shoreline Sibaya with 350ha of lush coastal forest and 6.5km of sandy beaches. Those looking for safe, open-air activities can find endless hours of fun on the 75km of paths, trails, and boardwalks.

He says they will also be within walking distance to world-class shopping centres, entertainment facilities and charming dining experiences.

“Being situated alongside the acclaimed Signature Sibaya Estate within the heart of Sibaya Coastal Precinct, there is currently no better retirement site in KwaZulu-Natal,” says Botha.

 

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