ONE SCARCE EVERGREEN UNIT COMES UP FOR SALE

Eighty-two percent of middle class South Africans are inadequately prepared financially for their retirements and have, therefore, to continue working at least part-time.

 Citing this figure from a Human Sciences Research Council Review, Lanice Steward, MD of Anne Porter Knight Frank, said that despite regular warnings from real estate sector spokespeople, South Africans put off decisions on their retirement accommodation until they are often unable to find a place to live.

 The situation, she said, is made more serious by the fact that there is already a dire shortage of retirement accommodation throughout the country and that the baby boomers of the 1945 to 1950 era are now entering the retirement phase of their lives.

 “Those who are reluctant to come to grips with these matters,” said Steward, “should appreciate that they can buy now and rent out until they finally take occupation.  A purchase in most cases does not have to be followed up by immediate occupation.  In some cases, in fact, people have bought in retirement villages and have not occupied their units for ten to 15 years.”

 Those taking this warning to heart may be interested to know that Anne Porter Knight Frank has one (and only one) life right unit for sale in the Evergreen retirement village in Fir Road, Rondebosch.  This is priced “reasonably”, said Steward, at R1,250,000 and carries with it a R3,386 per month levy.

 “Evergreen has at least four factors in its favour,” said Steward.  “These are that it has a good management team and a friendly vibe, it is centrally situated in a very pleasant area, particularly for those who like cricket and rugby, its suites are spacious (this one has two bedrooms, both en suite) and it offers very inexpensive lunches and other services such as laundry.”

For further information contact Diana Bell on 082 770 3504 or 086 625 9818.