Older homeowners also own proportionately more homes above R2 million than below.
South Africa’s mature homeowners remain key drivers of the property market's growth and stability.
They are far from exiting the market in their retirement years, says Bradd Bendall, BetterBond’s National head of sales.
While only about one in 10 South Africans is aged 60 or older, this cohort controls nearly half of the country’s residential property market valued above R500 000, according to LOOM Property Insights.
Many have settled in coastal, lifestyle and inland towns, sometimes owning up to 60% of properties in the area. These buyers also do not move much as they get older.
