Multi-generational living a trend in South Africa’s property market
It’s not an uncommon sight to see grandparents living with their children and grandchildren. Stats SA reveals that multi-generational living makes up a hefty 32.2% of the property market. Washington based Pew Research Center shares that multi-generational households in the United States exceed 18% of the market, which has doubled since the 80’s.
Multi-generational living is on the rise internationally and as a result we are seeing upmarket residential estates offering this more now than ever before. We take a look at the benefit of this growing trend in estate living, especially for retirees.
Offers upbeat living
Retirees living in an estate, with a mix of generations, have the ability to easily remain up-to-date with current lifestyle trends. By engaging with different types of people, retirees remain intellectually stimulated and each generation learns something from the other.
Promotes close-knit ties
Family members provide constant companionship and help prevent the older generations from slipping into isolation, depression and loneliness. Having easy access to a range of different individuals also provides a sense of purpose; retirees become role models for younger generations and, as grandparents, are able to entertain grandkids and be more involved in their day-to-day life. Living in a multi-generational estate, retirees can become more active in social gatherings and a part of a close-knit community that also extends further than family.
Estate living offers all residents a secure lifestyle with ample security features. With multi-generational living, individuals get security from having family members or members of the estate community close by to look out for one another, as well as provide help and support for each other.
Developers are creating retirement estates within established family estates or creating opportunities for retirees to live close to a mix of generations; further creating a healthy social balance. It’s all about offering an unsurpassed lifestyle close to amenities such as schools, hospitals, shops and sporting facilities.