Shoreline Sibaya has not only claimed the title as the fastest selling retirement development in KwaZulu-Natal, it is also the first and most innovative retirement development to provide a financial solution to retirees looking to buy within their development. Shoreline Sibaya have officially announced their new partnership with Lombard Insurance Company Limited, who are a niche, specialised risk insurer. This exciting milestone will assist in providing a viable financial solution for retired buyers who have their equity tied up in their family home.
“This is a first for the retirement industry and we are incredibly thrilled that we can now present this opportunity to help retirees secure their dream retirement within Shoreline Sibaya. By utilising this service, investors will only have to sell their current home just before transfer of their new unit,” explains Alan Beesley, Director, Carmel Properties.
“We want to ensure investors are able to plan ahead and take the next step into retirement easily. It can be a challenge to free their money and then have to wait for the development to complete construction. This solution helps bridge that gap and gives them a fair chance to invest in unsurpassed off-plan developments, like Shoreline Sibaya,” continues Beesley.
It has been a year since launching Shoreline Sibaya, and through the engagement from interested buyers, the developers at Shoreline Sibaya have been made aware of the challenges facing buyers over 55 years of age, especially when it comes to getting bank funding.
“When Shoreline Sibaya discussed their challenges with us, we were eager to get on board. We were delighted to not only be able to conceptualise a viable option, but to be the first in our industry to offer such a solution for retirees. Our solution bridges this gap in the retirement industry. By providing this solution we are to facilitate the transaction for Shoreline Sibaya and for their interested buyers who are unable to sell their current home immediately,” explains Sarah Wright, Lombard representative.
According to the Retire KZN market research, around 80% of the market are wanting to own their retirement homes, whether it be within sectional title or freestanding opportunities. Currently South Africa has more demand than supply for retirement opportunities to live within, with existing retirement homes or estates with waiting lists of 5 – 10 years. That’s why when a new opportunity like Shoreline Sibaya comes around, it’s necessary to invest ahead of time, before yet another retirement opportunity fills out.
“It has been our mission to listen to the retirement market, and this partnership that we have entered into will definitely make it less stressful for retirees to make the transition into their retirement. This is truly a game-changer and we are so proud to have introduced it first,” concludes Beesley.