select
|

Plan for retirement - Invest in Plettenberg Bay property

According to the latest New World Wealth Survey of wealthy suburbs undertaken in conjunction with MasterCard, Plettenberg Bay now ranks in the top three premier property locations in the country next to Cape Town’s Atlantic Seaboard and Sandton in Johannesburg.



According to Helen Ward of Helen Melon Properties, contrary to belief, Plettenberg Bay is not only for the super wealthy. “On average 85% of sales in Plettenberg Bay are in the region of R3 million or less. These sales don’t include sales in share block schemes and properties purchased on a life right basis.  Without a doubt awareness of Plett is growing, both nationally and internationally.”

Ward explains that the town has a very large ‘swallow’ contingent who arrive from the middle of January for nine weeks (to coincide with their visa).  “Germans, English, Irish, Welsh, Dutch, Austrians, Belgians and the French love Plettenberg Bay. Many own homes in the area and return year after year as ‘locals’. We had a very good season with foreign buyers and our sales were almost equally divided between sectional title and freehold properties.”

She says there is also an influx of buyers, specifically from Gauteng, who hope to retire to the Southern Cape. “Many of them are looking specifically at Plettenberg Bay. There is already a shortage of retirement villages within Plettenberg Bay and by all indication, demand in the future will only increase.”

The town and surrounds currently only offer two retirement villages with frail care facilities. “Formosa Garden Village (referred to as FGV by locals) is the only retirement village with a frail care facility in the town. Strombolis, which is located about 5km outside Plett and comprises wooden homes, also offers frail care. The waiting list at Formosa Garden Village fluctuates, but is in the region of 18 years.”

As the sole agents for the new The Plettenberg Manor, Ward is optimistic. “The Devmark Property Group has been involved in the development of retirement villages for the last 26 years and has an outstanding track record. All purchasers in these developments have seen significant capital growth since the acquisition of their property. I believe it will be no different with The Plettenberg Manor.”

Ward reckons investing in The Plettenberg Manor will ensure that you have a property where you can see out your twilight years in a tranquil setting with excellent security, a community centre and a place where animals are welcome. “Plus you’ll have access to frail care, with a specialist section for Dementia, which offers enormous peace of mind.”



Ward explains that the advantage of buying in at the onset of a development is that prices will rise. “With inflation, the unpredictability of the rand and growing demand for retirement homes, I do believe that the earlier one buys into such a development, the better.  I’m of the opinion that secure retirement villages are the one area of real estate in Plettenberg Bay that are excellent investments. Values will continue to rise due to demand exceeding supply. We’ve had unprecedented interest in the development to date and units are selling steadily.”

She advises younger buyers to plan for retirement early. “While rentals achieved in Plettenberg Bay are not in the same league as Johannesburg or Cape Town, there is a critical shortage of rental properties in Plettenberg Bay. Young buyers are able to secure a retirement home in one of the country’s most beautiful destinations. Currently the department of agriculture will not grant any rezoning on land that is zoned for agricultural purposes and combined with legislation around wetlands, developments on sites such as The Plettenberg Manor are scarce. These properties will be highly sought after, making them the perfect investment, and retirement home, for under 50’s.”

Ward says The Plettenberg Manor is an extremely exciting project.  “The homes have been designed for retirees. The positioning of light switches are wheelchair friendly, as are the sizes of the front and internal doors in all units. On top of it, all units are north facing. Part of the property is in fact a wetland that over the course of the development will be rehabilitated and will include board walks and bird hides. The beach is also within walking distance. The site is perfect for a retirement village in that it is flat and above both the 50 and 100 year flood plain. The development will also include a limited number of apartments and assisted living suites.”

Ward concludes that the Garden route is renowned for its natural beauty and gentle Mediterranean climate. “Plettenberg Bay, referred to by many as the Jewel of the Garden Route, has two Blue Flag beaches, magnificent mountains, lagoon and ocean vistas, and is a haven of flora and fauna.  Access to and from Plett has improved dramatically since the opening of the airport and the introduction of flights from Johannesburg and Cape Town. Activities range from paragliding to hiking, kayaking to whale and dolphin watching, and the range of world class golf courses, including Goose Valley and Plettenberg Bay Country Club, attracts golfers from around the world. It has a very special charm and I believe that this is due in part to the fact that we have very strict town planning policies in place. The maximum building height (commercial/mixed use) is three stories and our industrial area is not integrated into the town centre, but rather located on the western side of the N2, minutes away from the town centre by car. Furthermore, we’re close to the Eastern Cape’s game reserves such as Amakala, Shamwari, and Addo. We have a very effective local community policing forum and the quality of public services is good with ‘blue drop’ quality drinking water awards and recognised sewage treatment quality. We also have a very effective Tourist Board and promotion is under the ‘Plett!  It’s a feeling!’ slogan.  You’ll never regret investing in Plett.”

The Plettenberg Manor will offer six accommodation types ranging from assisted living units to three-bedroom exclusive homes designed in a Cape vernacular style, juxtaposing the Cape South Coast’s rural charm with sophisticated modern functionality and open plan living. Prices range from R1 595 000 to R3 825 000.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 18 Jan 2018
      New year, new goals! If you’ve resolved to purchase your first property in 2018, then this 6-step guide from the Rawson Property Group is a must-read. It will help you navigate and simplify what is often be seen as a confusing process of buying your first home – right from the house-hunt to the house-warming.
    • 17 Jan 2018
      While the current property market may still favour buyers, it doesn’t mean that they shouldn’t be well prepared before putting in an offer to purchase.
    • 17 Jan 2018
      Lightstone lists Blair Atholl as the most expensive suburb with an average house price of R11.2 million, followed by Westcliff (R10.5 million), Dunkeld (R9.3 million), Sandhurst (R9.1 million) and Inanda (R7.2 million).
    • 17 Jan 2018
      As it currently stands, there are four main ways in which a home can be bought in South Africa, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, who adds that deciding in which legal entity to purchase the property is not a decision that should be entered into lightly, as each has its pros and cons.
    • 16 Jan 2018
      The start of the new year is symbolic of new beginnings. A good time to take stock of one’s possessions as well as how necessary they actually are. However, seeing as the process may appear daunting – a plan goes a long way.
    • 16 Jan 2018
      The Western Cape is still in the throes of a severe drought and many households have to adjust the way they use and save water. It is a little more complicated in sectional title schemes, however, as it is not that easy to implement grey water systems for multiple users and it is also difficult to monitor water usage accurately if there are no separate water meters
    • 15 Jan 2018
      In ideal rental situations, when a lease is signed the tenant will stay for the full duration of his lease without any complications and the landlord will uphold his obligations, creating a win-win situation for tenant and landlord.
    • 15 Jan 2018
      The Atlantic Seaboard’s housing market has stoically withstood the brunt of the growing economic and political instability, consistently achieving double digit growth way above the national average, however, in 2017 South Africa’s most resilient market finally began to yield to the pressure.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK