More investment is needed in the senior living market

By: Real Estate

En 2015, más de 200 mil seniors cambiaron de residencia.

Meeting the demands of the real estate sector for the elderly in Spain (senior living) requires meeting national and international demands. At the national level, seniors seek assets located in familiar locations, in areas close to their municipalities to be able to continue with their lifestyle and routine.

On the international side, they prefer areas that are far from city centers and that are quiet, but have all the necessary services to meet their expectations (coast, sun, golf, etc.).

Regardless of the foregoing, today Spain has 380,000 senior living beds of all types, this is 3.1 for every 100 seniors, an amount below that recommended by the World Health Organization (WHO), which calls for 5 for every 100.

According to a study by Atlas Real Estate Analytics and Fragua, if the goal proposed by the WHO is to be achieved, 13 billion euros would be needed until 2030, that is, 1,445 million euros a year.

Work is already being done on it, just in the last year and a half, the number of residential projects and independent living schemes underway has increased. In May of this year it reached more than 90 projects. These projects translate into a total investment of more than two thousand 553 million euros between 2021 and May 2022, more than 48 thousand 300 beds in development.

Development Alternatives

The projects not only include residences, there is also the so-called independent living or active adult living, which are apartments for independent elderly people with high mobility and even active. Aimed at people over 55 years old, who seek to stay in a community, with services and amenities adapted to their tastes and needs.

There is also the assisted living, care homes or residences for the elderly, which are nursing homes as they are currently known. In them, continuous care stands out, with traditional specialized nursing schemes with highly specialized medical assistance 24 hours a day. They are ideal for elderly dependents who do not require the same entertainment services as the independent ones.

The senior couhousing, in turn, is a cooperative housing model for older people with a minimum age requirement, self-managed and mutual care.

And the temporary stays, which are like some of the previous models but aimed at recovering from illnesses, post-surgery or physical damage.

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