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Sydney is forecast to be 190,000 homes short within 10 years, according to a just released Property Council report, which will push up residential homes and retirement village home prices.
66,321 people were searching to buy into a retirement village in the last month – that is 2,140 people every day. This represents an increase of 40% in 12 months.
Professional advisory firm Grant Thornton has issued a report that forecasts the number of Australians in retirement villages will rise by 198,000 people by 2025.
Retirement villages save government $2.16 billion per annum. Freeing up the Centrelink penalty on the cash surplus created by downsizing from the family home to a retirement village can increase this saving significantly.
Perth retirement village operator Roger Kwok has acquired the 79 apartment village Rylands of Kew and 84 apartment village Rylands of Hawthorn from Stockland. Both are prestige vertical retirement villages originally built by the Buxton family and sold to Stockland in 2008.
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Our fortnightly newsletter brings you all the tips and tricks you need for a successful retirement, covering everything from finances and property, to health and happiness. Get prepared and sign up here.