Neighbourhood
stneighbourhood.co.za | 29 FEBRUARY 2020 ON SHOW
Neighbourhood
What's ON SHOW this weekend?
MARKETPLACE
Get the full list at www.stneighbourhood.co.za
BEACHFRONT PROPERTIES
LINMERE REAL ESTATE
APARTMENT FOR SALE IN HUMEWOOD - R1 600 000
GAMTOOS RIVER MOUTH RESORT
ON SHOW SUNDAY 3-5PM BEACHFRONT APARTMENT FOR SALE IN HUMEWOOD
VILLAGE NESTLED IN INDIGENOUS COASTAL BUSH. EASY ACCESS TO THE RIVER AND SEA.
LIMITED WELL PRICED TIMBER AND FACEBRICK HOUSES AVAILABLE. * R840 000 * R1 195 000 * R1 475 000 * R1 500 000 * R1 595 000 * R1 750 000 * R2 750 000. CHOICE SELECTION OF PLOTS of various sizes to suit everyone’s needs. Priced from R200 000. BARGAIN PLOTS: * Sea view 622sqm @ R230 000, * Top of the ridge with stunning sea view - 773 and 722sqm @ R325 000, * Large erf 835sqm @ R280 000 * Large erf 1276sqm close to lagoon @ R400 000. All offers will be presented Phone for an appointment. View www.gamtoosmouth.com
Lorraine 072 256 0560 / 041 581 2606 / Chris Egberink 083 412 8345
SOLOMONS CRAFFORD PROPERTIES
HUMEWOOD
R5.5 Million
ON SHOW SUNDAY 3-5PM AS MODERN AS TOMORROW
This exquisite home sets the standard for modern coastal living. 4 beds, 3.5 baths (2 en-suite), expansive open plan living areas and a designer kitchen. Breath taking Bay views. Landscaped garden with pool and Jacuzzi. Double garage, covered carports and ample off-street parking. Excellent security and a host of sensational extras. Pointers from La Roche Dr to 13 Cathcart Rd.
Naomi 083 675 0974 / Walter 082 926 1376
5
Spacious 3 bedroom, 2 bathroom apartment on the 16th floor in need of your personal touch. Large balcony and panoramic harbour bay views. Lounge, dining-room and kitchen with serving hatch. Safe, secure well-run block and basement parking. Fingerprint access and 24 hour security.
Contact Neil Dorward on 083 600 4555 for more information.
KEY HOUSING PROPERTY DEVELOPERS
NOTTING HILL - CLAIRE CRESCENT - BEN KAMMA
From R1 500 000 to R2 000 000
VIEW BY APPOINTMENT
NOTTING HILL
Notting Hill is situated in the Upmarket suburb of Ben Kamma and is close to all major amenities. Stunning handcrafted Simplex face brick units on offer. All units comprise of 3 Bedrooms, 2 Bathrooms and Double Garages, a large choice of finishes is available. High-speed Fibre connectivity available. The Complex is situated 1.8km from “Bay West Mall”. View Website: www.keyhousing.co.za Claire Keogh -083 655 4699 / Larry Keogh - 082 448 9386 PROP 24 - 103656751 Email: claire@keyhousing.co.za
A home for life Innovation in the retirement sector creates new opportunities for seniors in the current property market WORDS: EDITORIAL TEAM
IMAGE: SHUTTERSTOCK
W
ithin business spheres disruptive innovation creates new markets and value networks, eventually disrupting existing markets, and displacing established firms, products and alliances. These innovations are usually produced by outsiders and entrepreneurs rather than existing market-leading companies. Smart market leaders, however, can introduce innovations that add new life and value to existing products, and frustrate or even block prospective industry disruptors. An example of this is happening here in the retirement sector in South Africa. Evergreen Lifestyle, a business that builds, owns and operates lifestyle retirement villages around the country, has turned to innovation to assist purchasers in a very tough economy. The business is built exclusively on the life rights purchase model, in step with leading retirement village industries in America, Australia and New Zealand. “Retirement operators in South Africa are finding it tough
to sell retirement accommodation in the current soft property market as would-be retiree purchasers are unable to sell their family homes. This places enormous pressure on seniors who cannot delay their plans to scale down due to family, financial, health or other urgent considerations,” says Arthur Case, brand ambassador for Evergreen Lifestyle retirement villages. Andrew Golding, CEO, Pam Golding Properties, believes that with household finances under pressure for the foreseeable future, the focus will be on affordability, value for money and cost saving. Supply of residential property is growing in response to weak demand. This is not good news for seniors who need to sell now. “The business has realised the incredible flexibility of the life right model and developed a flexible pricing product that is unequalled in the industry, and difficult for smaller players to replicate,” shares Adam Kajee, financial director, Evergreen Retirement Holdings. “The essence of flexible pricing is that seniors
can purchase a life right for a new house or apartment at discounts of up to 30% of the list price. “This could assist them in two ways. Those who are unable to sell their family home in the current climate are now able to price their homes more realistically to attract buyers. In turn, this enables them to purchase an Evergreen life right at a reduced price and remain cash neutral. Others may be able to liberate capital from the sale of their home after purchasing a life right, to bolster retirement savings,” he says. Evergreen makes this model work financially by adjusting the return capital to the life right holder’s estate on termination. Owned by the PSG Group and the Amdec Group it’s able to take a long view of the business, incorporating this innovation. It’s an advantage that sectional title, freehold and share block developers cannot match. A second complementary innovation based on vertical integration has also been launched. In certain
circumstances Evergreen is prepared to guarantee a minimum price for the sale of the purchaser’s family home, allowing the senior to move into an Evergreen home immediately. Evergreen will then make the necessary refurbishments to the vacant property
to make it saleable and its in-house realtors will take the house to market at a preferential sales commission rate. Smart purchasers can access these innovations in tandem, making a move to an Evergreen home more affordable.
