For the development of the Spanish real estate sector for age and elderly buyers, it is necessary to pay attention to the needs of buyers at both national and global levels.
A study of demand at the national level indicates that age-old buyers are looking for properties located in places, on the one hand, remote from large cities, but on the other hand, quite close to them. This allows you to lead a moderate and healthy lifestyle, but still have access to all the social and economic benefits of urban life.
At the global level, this category of buyers also prefers regions remote from large megacities and agglomerations. They are looking for quiet, remote regions that at the same time have all the necessary amenities. The expectation of such characteristics as the presence of the coast, warm and sunny weather, golf and similar leisure places are added to the sphere.
Currently, there are about 380,000 properties in Spain designed for the age categories of buyers, including the elderly. With current demand indicators, there are 3.1 housing units per 100 such buyers. This is, in fact, lower than the WHO recommended indicator, which is 5 facilities per 100 people.
However, work on increasing the number of such real estate is already underway. Over the past year and a half, there has been a significant increase in the number of new housing on the market, new schemes for selling housing to elderly buyers are developing. In May 2022, 90 projects of such real estate were implemented. The volume of investments in this sector for the year from May 2021 to May 2022 amounted to EUR 1.553 billion. There are more than 48,300 beds in development.
Alternative forms of housing
The projects in development include not only traditional residential facilities, but also so-called «independent housing» - apartments and other facilities that allow elderly people and people with various disabilities to live freely and without problems. Such housing is aimed at creating an ecosystem in which residents can lead a mobile, active and fulfilling lifestyle. As part of the real estate for age buyers, we are talking about houses designed for people aged 55 and over.
Housing projects for the care of the elderly and elderly, sanatorium-type housing are also being developed, some projects are being developed as a kind of nursing homes. Such properties are being built with the idea of providing potential tenants with modern schemes of continuous care, round-the-clock highly specialized medical care and supervision. Within the framework of such real estate, objects for temporary residence are also created, mainly in order to help people with pathologies, acute periods of somatic diseases, recovery in the postoperative period.