Australia’s retirement housing revolution: Why over-50s are choosing land-lease communities over traditional home ownership

When Karl Byriel and his wife Deborah were initially considering what retirement would look like, they had a plan like many others. “We were thinking it would be a unit on the Sunshine Coast or something like that,” the 65-year-old Queenslander explains.

However, coming across an ad for a land lease community changed all that. “It’s a different concept, and it did take us a while to get our heads around it,” Byriel admits. After looking at a couple of different providers and locations, they realised GemLife’s new over-50s lifestyle resort located at Moreton Bay was exactly what they wanted, and this made perfect sense.

Residents of Moreton Bay, such as Karl Byriel, have embraced the community’s land-lease model.

“We decided it was a really nice feeling here,” he says on a call from their home of two months. “If you had a body corporate [for a unit], that’s more expensive than what the site fees are at GemLife.”

The Byriels are just one example of the estimated 135,000 Australians now living within land-lease communities, a number growing exponentially. “They’re a viable choice from a commercial, financial and lifestyle perspective,” explains GemLife CEO Adrian Puljich. “The baby boomer market is now looking to reward itself.”

Understanding the land-lease model

In land-lease communities such as GemLife, residents own their homes, but rent the land. “The costs of the purchase are lower because you’re not paying for the land,” Byriel explains. “In our case, it enabled us to release a bit of capital and let my wife retire early.”

On top of this, land-lease homes are exempt from stamp duty, which is a huge relief. “And those that are on either a full or part pension get to benefit from the Commonwealth Rental Assistance scheme,” adds Puljich. “It makes these communities extremely affordable and manageable.”

Moreover, the weekly site fees that incorporate the land rental also covers plenty of lifestyle options offered within each GemLife resort. “You get exclusive use of facilities such as ballrooms, ten-pin bowling alleys, indoor and outdoor swimming pools, spas, saunas, virtual golf, bowling greens, arts and crafts rooms, workshops,” says Puljich.

The Moreton Bay country club hosts a riveting range of activities. Artist’s impression.

This was part of the appeal for Byriel. “A lot of things that other [land-lease communities] called extras were standard with GemLife,” he states.

Oversight of site-management fees is another factor that provides residents with added peace of mind. “There are regulatory mechanisms in place to ensure the cost of living within these communities remains viable, unlike other sectors where councils can increase their rates and levees without much pushback,” Puljich says. “This model is heavily government regulated, which gives homeowners certainty moving forward.”

The lifestyle advantage

It’s not just the financial benefits responsible for the boom in land-lease-community living. It’s a chance to live in enviable locations, within new builds that require minimum maintenance and are designed with sustainability in mind (Moreton Bay is the first GemLife community to be awarded a Green Star by the Green Building Council of Australia.) “They’re beautiful homes,” says Byriel. “They’ve got lots of high-end features, and we really love it.”

Elegant interiors designed for modern living at GemLife resorts, offering residents a sophisticated and relaxed lifestyle. Artist’s impression.

And as Puljich has mentioned, there are a plethora of activities within each GemLife estate. “It’s a community of like-minded friends, where similar people with similar interests can come together to share life experiences,” he says.

The Byriels were keen to meet their prospective neighbours before GemLife Moreton Bay was even ready for them. “When we first signed up, I checked to see if there was a Facebook group for the place. [There wasn’t] so I started one. We were having group lunches before we even moved in,” he says. This has only just increased since arriving. “Everyone is really open and welcoming and friendly. People give you a wave when they drive past.”

A place to thrive

Even though the Moreton Bay resort is still to be fully completed, residents are already exploring shared interests, dispelling any notion that GemLife is somewhere to go to slow down. “There’s the thinking that everyone’s going to be old and using a walking frame and being inactive,” Byriel laughs. “Some of the guys have organised fitness classes, there’s a bike-riding group three days a week, pickleball. It’s a very active lifestyle.”

In fact, many GemLife residents continue to work after moving in. “People think they’re too young to move into a [over-50s] community,” says Puljich. “But these are communities where you go to reverse time, to live life to the full. Our message to prospective purchasers is that you are worthy of living in a community like this, where you are rewarded for life’s sacrifices and get to prioritise yourself. The world’s your oyster.”

GemLife over-50s lifestyle resorts are in seachange and treechange locations in Queensland, New South Wales, and regional Victoria. To find out more, visit gemlife.com.au.