Sibaya launches first retirement development, priced from R1,4m
Some 76% of retirees are looking for homes priced between R1m and R2,5m. This is according to research conducted by Retire KZN and Carmel Properties, which partnered to create the Sibaya Coastal Precinct’s first retirement estate, Shoreline Sibaya.
“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,” said Wicus Jacobs, director of Carmel Properties. “Shoreline Sibaya has focused on creating a more affordable product that does not compromise on quality or lifestyle, with apartments starting from R1,475m. In addition, and in line with being conscious of the needs of the retirement market, Carmel Properties has gone one step further, by covering the levy stabilisation fee of each owner to reduce upfront costs.”
The development features single-level sectional title one-, two- and three-bedroom apartments.
Photo: Internal render of a one-bedroom apartment