The offering of residential complexes for the elderly, or Senior Resorts, is currently in the midst of its development phase. Their location, principally on the Costa del Sol and the Costa Blanca, meet an important holiday demand for foreigners, especially for German and English retirees, who frequently choose our country as the place where they would like to enjoy their retirement. Meanwhile, the popularity of these complexes is also motivated by the progressive trend in ageing that has taken hold of the Spanish and European populations. The increase in life expectancy, greater buying power, more sophisticated socio-cultural tastes and the greater level of independence that today’s elderly are experiencing, means that they’ve come to value their good health and now seek a quality of life to match their expectations.
According to the DBK report "Real Estate Demand from the Elderly," there were seven Senior Resorts functioning in February 2006, mostly located in Alicante and Malaga, providing a total of 1,052 residences.
Currently, a number of projects for new senior residential complexes are in existence, with openings forecast for the next five years. The securing of these projects guarantees a sustained growth in the offer of these types of real-estate products for the years 2006-2010. If the planned inaugurations of these Senior Resorts occur on the established dates, the seven complexes that opened in February 2006 will grow to a total number of 20 by the end of 2010, representing a global capacity of 6,200 residences.
According to consultant data, in Spain there are approximately 1.2 million residences that are the property of foreign citizens. During the next five years, it is estimated that there will be an annual demand for 140,000 residences, principally from German and United Kingdom citizens. Following a survey that measured the potential demand, motives and residential desires of German and British seniors over the age of 50, King Sturge Senior concluded that Spain was the respondents’ preferred destination, with our country's climate being one of the most-cited reasons. However, the Spanish plans should try to meet consumers' hopes of finding lower costs, as well as covering other aspects, such as culture, the provision of health and social services, security and information.
http://www.sendasenior.com/noticia.asp?ref=151
December 2007
