Presentation on theme: "Over-50s Housing Trends is part of a continuous education course developed by a team of specialist editors, researchers and property experts around the."— Presentation transcript:
Over-50s Housing Trends is part of a continuous education course developed by a team of specialist editors, researchers and property experts around the world for developers, financiers, planners and industry managers. It paves a clear concise path through the thickets of information overload. All the trends canvassed have started to emerge somewhere in the world. The over-50s housing market is splintering into a hundred slivers. The certainties of the past 30 years have been shattered by generational change, and seismic shifts to the social, cultural, political and economic order. This continuous study is updated every month. It reflects change as it occurs.
13. The pursuit of retirees From the towns of the USA (Sedona, Prescott, and Oxford in Mississippi) to countries (Malaysia, Philippines) there is a growing trend to 'pitch' for retiree residents. Retirees bring capital and spending capacity. Retirees are a 'clean industry.’ Malaysia has 5,000 residency permits on annual allocation for overseas retirees. Philippines has created an authority (Philippine Retirement Authority) to create retiree sanctuaries (Subic, Clark) to engender migration from other countries. NCR, Baguio, Tagaytay, Cebu, and Davao have also been chosen because of their accessibility to airports, seaports, tourist spots, and tertiary hospitals.
14. Retirement housing growth now worldwide trend Over-50s housing was once the preserve of 12 countries (USA, Canada, UK, Netherlands, Denmark, Germany, Australia, New Zealand, Norway, Sweden, France and Ireland). Now it is a growing sector in over 100 countries. In India Discover Motels is pioneering a model which is part hotel, holiday home, spa, medical tourism, assisted living and timeshare. Traxer Ltd is seeking investors to launch Elder Care Homes in Helsinki to accommodate affluent German, Russian & Scandinavian citizens. Wealthy Russians are seeking comfort, safety and quality of service to place their ageing and handicapped relatives, and Finland is a preferred choice. The Russian Elder Care Home Helsinki has a waiting list of up to five years. Major U.S. senior housing companies and private equity funds are opening offices in China, holding talks with Chinese developers and officials, and touting opportunities in Asia to their investors. Among those scouting the market: Emeritus Corp., Life Care Services LLC, hedge-fund entity Fortress Investment Group LLC and even John C. Erickson, an industry pioneer whose empire of retirement communities toppled in the wake of the financial crisis.
15. The joint operation of over-50s housing and vocational education Trend towards reshaping care / nursing / rest homes into servicing both residents and a teaching facility. Helps solve labour issues. Can incorporate a childcare centre. Get a share of Government education budgets. Example Churches of Christ Care in Queensland Australia is set to join the growing ranks of ‘teaching aged care facilities’ following a recent Commonwealth government injection of funds. The $240,240 was awarded to Churches of Christ Care’s (Care) Sunshine Coast education partner, the University of the Sunshine Coast, for the construction of two clinical training rooms at a new Care facility to be built in Caloundra. The project is one of 35 Health Workforce Australia capital projects, totalling $51 million, being funded across Queensland to improve clinical education and training infrastructure across the state. Churches of Christ Care’s General Manager of Aged Care, Jeanette Evans, said that the on-site clinical teaching and access to residents for students also contributes to more positive images of aged care.
16. Movement to multicultural care homes The foundation of nursing / care / rest homes worldwide was ethnicity or faith-based occupation. Many have broadened intake criteria over time, but now the trend is to purpose built multi-cultural Continuous Care Retirement Communities. Construction of one of these purpose-built multicultural retirement villages is due to start in Canberra, Australia. Development of the Mandir Ashram retirement village is expected to take about three years and cost more than $60 million. The chairman of Mandir Ashram, Krishan Aggarwal, said the project met a previously unmet demand for culturally specific spaces for older residents. "There are two major ingredients: one is the language, the other is the food," he said.
17. Living history Trend towards integrating housing into historic monuments and moments. It underpins the preservation of the historic building and the housing tenants provide the guardians of the flame. There is an innate part of older generations to want to be part of the preservation of the best of their era. To be accorded the privilege of being the 'keeper of the flame.’ To wear a badge of honour. To enjoy living history. UK / Bentley Prior: The home where the Battle of Britain was won / restored 18th Century mansion / 14 apartments in Priory / 89 in grounds / project by Barratt Homes Southern.
18. Putting a roof over seniors Satisfying demand by the creation of innovative financial instruments. The UK is the world leader in creating instruments to allow housing to be made available to indigent seniors. Shared equity, rent to buy, fractionals lifetime leases and protected occupational rights. USA is second with HUD (housing / urban development financing) and tax credits system. Australia is third with its bulk purchase of apartments in key areas and letting (via a community housing association) to low paid workers and seniors for one quarter of their income. Putting a roof over your head at any cost The greatest over-50s housing innovation introduced to the world market by the UK, is the concept of part-ownership. It has a dozen permutations (fractionals, rent to buy, shared equity) and embraces lifetime leases and protected occupational rights. How will this model evolve in the UK and beyond?
19. Building above rail stations The trend allows for greater use of public transport, and the greater densities underpin better maintained infrastructure, and downplay reliance on the car. Denver Light Rail has seen creation of housing clusters over inner-city stations. A multi-million dollar revamp of Richmond station will be one of the first projects for the new Urban Renewal Authority in Melbourne. Preliminary plans for a 20-storey residential and office tower above the station have been drawn up.
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