Oct
2014
Why would you want to retire in George?
Statistics South Africa has it that 42.5% of the residents in George as at 2011, are aged between 50 and 64.
Adrian Goslett, CEO of Remax South Africa comments that the property make-up in George central consists of 55.32% sectional title units. This is very similar to Camps Bay in Cape Town at 57%. Freehold properties make up 44.68% of the properties.
Sectional title residents are a lot more convenient and safer than freehold properties, and it seems that, across South Africa sectional title residence is popular with retired people since it is less maintenance and less floor space to clean.
According to Goslett freehold properties has declined since 2011 in George, with the average value being R849 000 and the sectional title homes are selling at an average of R450 00. This is affordable - actually for George these prices are unbelievable! Compared this to what you would pay for property in an “exclusive” retirement development directly from developers. This will amount to well over R800 000. Exclusive retirement developments are registered as exclusive use limiting the residents to retired people only.
George is definitely the right place to retire when looking at the climate alone. With temperature lows of around 15oC and highs of between 28-32oC, this will certainly accommodate with the old age. George offers nice weather all year round and with the sub-tropical foliage gardeners will delight.
George would be an investor’s haven and more-so when looking at the selling price of sectional title homes. Buy-to-let investments will serve you well and rental income will be favourable in the holiday peak seasons.
All the main tourist attractions are minutes away and this makes George a good location for the resident who prefers quiet peaceful living. The beaches in Knysna are close so you will not be stuck in the hustle and bustle of a busy holiday destination.
Once investors target places like George the demand will increase driving prices to actual market related prices.
MyRoof has many affordable holiday, sectional title and freehold properties in George. Take an online look and decide which appeals to you.
