Demand for retirement estates continues for outweigh supply
A report commissioned by the US government, called An Aging World: 2015, found that 8.5% of people worldwide (617 million) are aged 65 years and over. This number is estimated to jump to around 17% of the world’s population by 2050 (1.6 billion). Closer to home, in South Africa, the baby boomers comprised 13.2% (7.1 million) of the 54 million population and, following the global trend, this is expected to rise. The South African elderly population, over 60 years or older, is expected to double from 7.7% to 15.4% within the next 35 years, according to the World Health Organisation’s World Report on Ageing and Health in 2015.
“The growth outlined in these statistics is due to the extensive work done in South Africa to improve healthcare services in the country. Another aspect adding to the longevity of the elderly is that the ‘baby boomer’ generation, within their 50s and 60s, are remaining healthy and active, thus living longer,” explains Dave Cameron, Director of Cameron Property Group, developer representative for Mount Edgecombe Retirement Village.
He continues, “In the coming years, it’s evident that there are going to be far more retirees and in terms of infrastructure, South Africa isn’t adequately prepared to deal with this growth”.
Proof of this is the fact that many established retirement villages in South Africa have up to 20-year waiting lists, which highlights the lack of supply of retirement villages in the country. With the continuous growth of the average life expectancy, calls for more retirement living opportunities are in high demand.
“Although more retirement options are currently in the planning stage, in light of recent statistics, the demand will still outstrip the supply,” says Cameron.
An example of the level of demand that retirement developments enjoy, can be seen through the recent launch of the first phase of Mount Edgecombe Retirement Village. “The uptake of the Mount Edgecombe Retirement Village has been phenomenal. Prior to the development being released to the public, 60% of the units in phase one had already been sold,” highlights Cameron.
“The response proved that retirees are looking for security, single-level living, and most importantly, a dedicated and comprehensive healthcare option. Mount Edgecombe Retirement Village ticks all of these boxes,” he says.
“We are eager to be able to help answer these high demands and develop a retirement village that provides more than just a home, however South Africa has a long way to go in order provide enough opportunities for those entering or considering their retirement years”.
“With phase two and three yet to be launched, it is without a doubt that the Mount Edgecombe Retirement Village will continue to experience success. As the elderly are living extended, happier and healthier lives, so will the demand for many more retirement estates and homes will increase. The Collins Group has identified this need, and created a superior retirement development solution, that could prove to be the answer for our retirement market, and also effectively be used in rolling out future retirement focused developments.”
Totalcare enters KZN
“Our research has proved that in order to ensure the appeal and success of a retirement offering, the care solution needs to be superior, and need to be confirmed holistically to potential buyers upfront as this is of paramount importance to retirees. We have identified Totalcare as an industry leader and partnered with them to ensure that Mount Edgecombe Retirement Village is the premium retirement option in KwaZulu Natal,” explains David Cameron, Director of Cameron Property Group, developer representative for Mount Edgecombe Retirement Village.
He confirms, “Mount Edgecombe Retirement Village will offer 32 frail care units, 48 assisted living units and around the clock care for residents, whether it’s from the comfort of their own home or in the Care Centre”.
Totalcare has set themselves apart in the healthcare industry offering dedicated services to the elderly, from assisted living to home based care and more. Totalcare’s specialised presence in the market is becoming increasingly prominent as it is estimated within the World Health Organisation’s Report findings that 38.4% of South Africans from 65 to 74 years of age have limitations in eating, bathing, dressing, getting in and out of bed, or using the toilet.
Understanding these and other needs of the elderly, Mount Edgecombe Retirement Village’s working relationship with Totalcare will position them high above other retirement villages. This will be Totalcare’s introduction to the KwaZulu-Natal market and will become one of their flagship projects in South Africa.
Mount Edgecombe Retirement Village, nestled within the already established Kindlewood Estate, will comprise of approximately 260 units, and will offer 1, 2 and 3 bedroom sectional title units, as well as a limited number of freestanding homes. Designed to provide the ultimate in spaciously comfortable living, residents will enjoy a community-focused estate, with unlimited use of the facilities within Kindlewood Estate.
“The combination of Totalcare’s services with Mount Edgecombe Retirement Village’s facilities and lifestyle, ensures that residents will be offered the luxury of permanently setting up their home from the time they are fit and healthy, right through to a time that they may need the extra care,” explains Cameron.
Totalcare offers Mount Edgecombe Retirement Village residents 24/7 medical assistance, with options ranging from basic to permanent medical assistance, along with flexible roaming nursing care for minor through to intensive medical check-ups to be done in the comfort of their own home, and specialised Alzheimer and Dementia care.
Whether on a basic or premium package, residents can rest assured that the Mount Edgecombe Retirement Village will be a convenient and easily accessible healthcare 1-stop-shop. This world-class healthcare within the safe and carefree retirement village environment will give residents and their family’s peace of mind knowing that they are always looked after in the best possible way by the friendly, caring and qualified staff from a specialised, leading healthcare provider, Totalcare.
“For us it’s very special to have an impact in people’s lives, especially in their golden years. We’re almost a hybrid between a Netcare and a Protea Hotel. We offer the care element, but also the hospitality element where we take care of our residents’ everyday wellbeing, from their food to cleaning, laundry and everything else on a daily basis. We strive to give them that dignity by using the right personnel,” explains Cornel Nieuwenhuizen, Director of Totalcare.
He continues, “We have been waiting for the right opportunity to enter the KwaZulu Natal market, and were delighted when Collins Property Group approached us for Mount Edgecombe Retirement Village”.
Research has shown that the top three elements that people are looking for in a retirement development are top security, holistic healthcare and peace-of-mind, the partnership with Totalcare ensures that Mount Edgecombe Retirement Village definitely ticks all of these boxes.
“There is a distinct gap in dedicated healthcare services for the elderly in South Africa. Mount Edgecombe Retirement Village and Totalcare’s partnership will help fill this gap and ensure the elderly are given the best care as they journey through their ‘golden years’,” says Cameron.