15 May 2008
Today senior citizens demand residences that provide services such as medical dispensaries, new technology, personalised diets and sports facilities. It is forecast that in 2009, there will be 6,370 homes in development for retired people and pensioners.
Future work will include the development of resorts and complexes that will service as normal places of residence for the elderly. These developments will be equipped with a range of facilities and complementary services, such as swimming pools, medical dispensaries and social clubs.
Property developments for the elderly have tripled their accommodation supply over the last three years, increasing from 470 in December 2004, to 1,380 in December 2007. In addition, the number of facilities has increased from three to eight during the same period.
In 2007 the turnover generated from the sales and rentals of these residences totalled approximately 130 million euros.
This upward business trend is mainly due to the new needs of today’s elderly, who are demanding a higher quality of life and some of whom have higher disposable incomes. Another factor is the fact that many Europeans from the UK, Germany and Nordic countries, in particular, choose the Valencia region as the definitive place for their retirement due to the Region’s bonanza climate as well as to the strength of the euro.
LEVANTE - April 2008
