Central Developments is an established developer with a proven track record in developing retirement properties and are the market leaders when it comes to retirement estates.
Celebration Retirement Estate is the twelfth retirement estate in the group. The first village which has 470 units, has been completed and over 80% of the units have been sold. This includes 140 apartments and 21 houses which were sold to investors and fully tenanted. Village 2, launched in September 2019, will consist of 506 units, giving you a wide variety of floorplans to choose from.
Retirement housing are growing in popularity and have become an attractive investment proposition, even for younger buyers. With many retirees not in a position to purchase a home, there is a thriving rental market in this sector. Buyers below the age of 50 are also increasingly acquiring a property in a retirement estate, as it can be rented out until they wish to move in.
Below Return on Investment is calculated based on the rental assist promotional offers.
|Unit Type||Size m2||Purchase Price||Projected Rental Income||Levy @ R18,92 /m2||Estimated Rates and Taxes||Nett Rental Income||ROI Excluding Capital Growth||Projected Capital Growth (Conservative)||Total ROI Capital Growth and Rental Return|
|1 Bed, 1 bath apartment with balcony||48||R925 000||R7 200||R908||R372||R5 920||7,68%||R999 000||8%||R 142 040||15,68%|
|2 Bed, 1 bath apartment with balcony||68||R1 280 000||R9 000||–||–||R9 000||8,44%||R1 382 400||8%||R 210 400||16,44%|
|2 Bed, 1 bath apartment with balcony||76||R1 435 000||R9 900||–||–||R9 900||8,28%||R1 549 800||8%||R 233 600||16,28%|
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