Retirement is a hot property story and this is one of the reasons for our regular features on it. With Generation X entering the retirement market and looking for a home for their golden years, developers have had to relook at their retirement village models.
What was fine for the Baby Boomers probably won’t work fully for Gen X, an interesting generation who helped usher in the internet. Automation, smart homes and fully online homes are now the norms.
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And, given the earth’s vulnerability, green, sustainable homes are also fast becoming a necessity. In some countries life expectancy is about 90, meaning this generation is also likely to be working way past age 65 – probably into their 70s and beyond.
Again a consideration for developers. I do believe that developers are ahead of the curve in their forward-thinking models, but things are changing fast and, no doubt, in a decade or so when we begin seeing millennials enter the retirement market, we are likely to witness innovations we have not yet even thought of.
The retirement property market is an exciting one, and one to keep your eye on.
Warm regards
Vivian Warby
vivian.warby@inl.co.za