Demand Increase For New Seniors Living Trend In Land Lease Communities
Leading owner, operator and developer of over 55s communities, Ingenia Lifestyle, is recording an unprecedented number of sales and expressions of interest from clients looking for a new alternative to the traditional ‘price gouging’ retirement model.
Lifestyle-focused land lease communities are one of Australia’s newest senior living trend available to the downsizing market, with Ingenia Lifestyle setting new benchmarks for affordable senior’s accommodation.
The popularity of the model is its simplicity; residents purchase a new home and lease the land, offering a much more affordable price point, eliminating the need for residents to pay stamp duty or entry and exit fees.
Ingenia Chief Operating Officer Nikki Fisher said the popularity of Ingenia Lifestyle’s land lease communities comes at a time when many senior Australians are grappling with the issue of housing affordability.
“Those who look to downsize and relocate to an over 55s lifestyle community often pay less for their new home, which provides them with more capital to fund their senior years,” Nikki said.
“Lifestyle-focused land lease communities are one of the newest senior living trends available to the downsizing market, allowing residents to own a home but lease the land offering a more affordable entry price point with no stamp duty or complicated exit fees.
“Many lifestyle community residents are also able to access rental assistance, another added comfort each fortnight and take part in the Ingenia Care Wellbeing Program so residents can continue to live independently.”
One simple site fee covers maintenance, management of the community and facilities, with the home owner retaining 100% of any capital gains made on the property, if they choose to sell their home.
Ingenia Lifestyle Lara has recorded a high level of demand for more affordable and age appropriate accommodation in the Geelong region with the current stage nearing 70% sold and only a handful of homes remaining.
Plans to launch the next new stage is well ahead of schedule and brand new homes will be available for sale from $209,000.