THE FRIENDLY CITY IS A GREAT RETIREMENT OPTION

Positioned at the end of the popular Garden Route, The Nelson Mandela Metropole, including Port Elizabeth, Uitenhage and Despatch, is the capital of the sunshine coast. Located on the south eastern coastline of Africa, Port Elizabeth has the largest seaport in the Eastern Cape and, as South Africa's fifth largest and second oldest city, is situated 260 km from Knysna and about 800km from Cape Town. 

Port Elizabeth is a popular residential area mainly due to its moderate year-round climate and range of amenities. Its property also caters to those buyers who are looking to downscale into a retirement development. Summer Dunes Retirement Village, which was launched in April 2005, has become the premier retirement village in Port Elizabeth, according to David Rodgerson, Broker/Owner of RE/MAX Bay Properties. 

"The village is situated in the up-market suburb of Summerstrand and is close to the city's main blue flag beaches as well as all major amenities including the Humewood Golf Club," says Rodgerson. "The up-market homes are set in well established, landscaped gardens and the village boasts a 5-star clubhouse complete with a heated swimming-pool. " 

This exclusive, 117-unit retirement village development offers relaxed, estate living and offers buyers a choice of designs from bachelor bedsits to two- or three- bedroom units. 

Summer Dunes is a Life Right scheme which offers buyers the opportunity to gain capital growth. The life right retirement system is the most popular retirement property option in the Western world. 

"Buying into a life right system means that the buyer purchases a right to live in a unit until they leave or die. While this is not the same as buying a sectional title unit in a retirement village, it does not mean that the owner loses out on his/her original investment," says Adrian Goslett, CEO of RE/MAX of Southern Africa. 

"In fact, the Life Rights System is considered to an option that costs less," he says.

"On relocation or death, the unit is relinquished back to the development at the full invested price and in some cases, as with Summer Dunes, capital appreciation on the property is also paid out."

Rodgerson reports that the final phase of Summer Dunes Retirement Village is now available and offers potential buyers a range of purchase options. He says assisted living units that include a lounge, kitchenette, one bedroom, one bathroom and a patio are priced at R575 000, while semi-detached and free-standing homes that have been designed with a lounge, dining room, three bedrooms, two bathrooms, a kitchen with drying yard, patio, double garage and enclosed garden are priced from R1,55-million. 

The developers, Cape-based Inframax Developments, have successfully completed up-market retirement villages in Cape Town, Durban and Johannesburg.

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