“There are 17 million people over 50 in Spain. We have one of the most generous pension systems in the world, which gives them a huge spending capacity. This means: Only sectors that will grow in double digits the ones meet any demand This was the beginning of the Senior Living Forum, an event organized in Madrid around housing solutions for people over 65. Inaki Ortegaprofessor and member of Fundación Mapfre’s Ageingnomics advisory board, as the first participant.
Ortega brought to the table the main debate about how the elderly will live in a world where life expectancy continues to increase by three months every year and, in the case of Spain, housing is the main and sometimes the only resource. Savings, although illiquid. ” old people They become increasingly willing to move house as they get older.. Currently, based on the data we manage, 40% of people over 50 would be willing to live outside their habitual residence; senior living“said Ortega.
The professor detects a trend change in this direction: “The understanding of heritage is changing. The new generation senior He no longer thinks about what he will leave to his grandchildren, but about enjoying himself. Especially, 30% are no longer worried about inheriting an asset“Also, according to Ortega, this segment of the population believes that they will not have any problems receiving their pensions.
The new option for elderly people is elderly living
“Being old used to be a punishment or a disgrace because of not being able to work or have an income. This changed 100 years ago with pension systems. Spain is one of the places in the world where this has changed the most. However, now having a birthday does not mean worse health. Life expectancy “It puts us at around the age of 83 or 84 and rising. We are getting older and healthier. On average, without disabling pathologies, we reach the age of 70. When you reach the age of 65, that is quite a high number. You will probably also reach the age of 90,” Ortega emphasizes.
This fact explained by the professor represents a great opportunity for the real estate sector in terms of designing alternative rooms for individuals. senior without pathologies. The current offer applies to traditional nursing homes designed for dependents. In real estate jargon, the alternative is known as senior livingIt is still in its early stages in Spain. “in spain There are at least 15 investors who want to invest senior living. Everyone can contribute Between 100 and 500 million eurosSome even go as high as 1,000 million. There is demand, demographics are scary. “Some investors are trying to develop complexes more for the hotel model, while others are investing in housing,” he summarized at the Senior Living Forum. Nuria BejarNational director of the Healthcare department of consultancy Savills.
This model already works in other countries such as North America. “There are 3,000 communities senior living Largest in the United States with over 90,000 apartments. There residents have all kinds of activities managed by them. “We need to create a manager here who will develop these clubs organically,” he said. Alejandro CrespoManaging partner of Silverspring. This expert states: senior living It makes sense to have a minimum of more than 500 apartments because with less, the project is not scalable.
Regulation is the main hurdle
Today, the main obstacle to the growth of the elderly is regulations. The nursing home industry is strictly regulated under the regulations of the autonomous communities. For example, these administrations decide how many toilets should be available for each resident. “Doctor rates in a complex of independent apartments are not comparable to those in residences. Communities need to adapt their legislation to these products.” Marta González-LleraPartner at Cases & Lacambra.
On the other hand, It is not exactly clear what quality the soil should have. in which senior living. Theoretically, and without taking into account the specifics of each region, tertiary accommodation can be developed on tertiary point and even traditional housing on which houses are built. The law firm partner believes there are limitations to university and hotel use: “I think it is difficult for them to settle here and for residents to stay here for a long time.”
James Sean is a writer for “Social Bites”. He covers a wide range of topics, bringing the latest news and developments to his readers. With a keen sense of what’s important and a passion for writing, James delivers unique and insightful articles that keep his readers informed and engaged.