Highlight
– Female population in Thailand will exceed male by 1.5 million people in the next two years, with 5.6 million more single women
– DDproperty Consumer Sentiment Survey reveals consumers choose single house and nursing home for their old age living
– Developers bring safety, technology, and design to answer the needs of the increasing feminine and senior citizens
[Special Scoop] Thailand’s property trend is changing due an increasing number of female and senior citizens. Smartphone has also become an inseparable factor, changing consumer behavior towards digital concern. Foreseeing these changes, developers are forging strategies to meet the lifestyle of these citizens.
Thailand has become aging society in 2018
Official Aging Society
As baby boomers have finally turned Thailand into aging society, developers have started to launch residential projects which resonate with their need. The government also support the elderly group by offering loans with favourable requirements. Jin Wellbeing County is one of the projects born to offer everything the elderly need after retirement: social, healthcare, facilities, a hobby with income. Yet the project is not aimed to be purchased after the person has retired, but years before the person’s retirement.
Single Detached House and Senior Housing are preferred by senior citizens in their old age (data from DDproperty Consumer Sentiment Survey)
Senior Housing has gained more acceptance in Thai society due to its modern design, various facilities, and recent technology which complement a healthy living, whereas in the past it had been viewed as an unfavourable community where people left their parents under someone else’s responsibility. According to the graph single detached house and senior housing accounts two-thirds (34% each) the types of property senior citizens look for in their post-retirement life. U.S. Census Bureau, International Data Base also reveals that in the next two years, female population in Thailand will exceed male by 1.5 million people, with 5.6 million more single women, included existing widows.
What female and senior citizens look for in a property?
1. Home with proper space for a single woman
2. Safety is the first priority
3. Elderly-friendly facilities
The graph shows over half of the participants are not worried about their old age living, while 30% of them start to look for property with elderly-friendly features, and 15% of them start to look for property near elderly care facilities
Increasing female and senior citizens led to developers’ new strategies
Property trends are always after people’s lifestyle
As Thailand is becoming an aging society, elderly-friendly facilities start to become more prevalent in new residential projects. Grab bars, wheelchair ramps, and bedrooms on the first floor have been incorporated in numerous projects in the past few years, while modern innovation like home automation, automated parking system, and smart home application have also been invented to serve the younger generation. For example, Sena Development Plc. has launched an application SENA 360 which acts like a CCTV of resident’s unit. The developer also employs female as shuttle bus drivers as feminine shows lower tendency to cause physical violence. Land and House Plc. also focuses on safety by launching PRO License Plate System which scans every car’s license plate at the entry – the technology is being used by its affiliated firms. Meanwhile, Supalai Plc. is among many developers who features their residential projects with Home Automation, allowing residents to control room’s lighting and appliances through their smartphone; the developer also aims to launch a project for senior citizens in the approaching future.
This article is written by Araya Siripyak, Content Writer at DDproperty.com. For more information, please contact araya@ddproperty.com
For more information and insight about Thailand’s property market, read DDproperty Property Index and DDproperty Property Market Outlook
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