Based on the popular response from our last retirement segment regarding the future of retirement estates in SA, we thought to follow up with a session around why KZN has fast become the retirement destination of choice and how international trends have influenced the way in which developers are looking at creating future retirement opportunities.
Why retire in KZN
We can expect a growing Gauteng market, with up to 30% of residential buyers in KZN over time being from out-of-town. Research from Rainmaker Marketing has shown that KZN has been likened to Florida in the USA for retirement living, in that both destinations boast year-round warm weather, great swimming beaches, access to a myriad of facilities from the arts to golf courses, hiking trails, bowls and yoga clubs. The cost of living is reasonable and has health care facilities, the sea and air travel closely linked. Durban is affordable compared to other regions within South Africa and provides close-knit, family-focused environments, secure estate living and an exceptional quality of life. “I know I want to retire in KZN because of the weather, and the warm usable ocean. Relatively speaking our coastal property is affordable compared to the Atlantic seaboards. KZN, especially along the North Coast has minimal traffic compared to Cape Town and Jo’burg. We have Game Parks on our doorstep and have 45 min flights to Jo’burg – which allows semi-retired individuals to enjoy the live and work aspects,” shares Charles Thompson, Director of Devmco Group.
North vs South
In the last 12-month within the Retire KZN campaign 61% of all those joining have indicated that they want to retire within the North Coast in either Umhlanga, Sibaya or Ballito, whilst only 13% have indicated that they want to retire on the South Coast. Convenience and proximity play a vital role in retirees’ decision of where they want to live. The North Coast is no longer a relaxed holiday destination, it is where families of all generations are choosing to live. With King Shaka International Airport within a few minutes away, shopping centres, top-class medical facilities and an array of recreational facilities to take part in, the North Coast allows retirees to live in the centre of everything that is happening.
Retirement post Covid-19
Will retirement estate offerings differ much post covid-19? As a property segment that is continuously evolving with the times, one can expect a few adaptions to cater for better care, active ageing requirements and most of all convenience.
If you want to learn more about the various topics covered and trends revealed in the retirement space, we encourage you to watch the full webinar here: