More Developers In Thailand Focus On Senior Housing

16 มี.ค. 2561

More Developers In Thailand Focus On Senior Housing

Thailand’s society is aging and more real estate companies are looking to create senior housing and aged-care facilities to keep pace with growing demand, reports local media. According to the National Economic and Social Development Board, the country has 11.2 million elderly citizens, accounting for 17 percent of Thailand’s population.

“There are local developers that have been building condominiums and residences for years. Some of them are listed on the Stock Exchange of Thailand. These companies want to diversify their core business from real estate to healthcare and senior homes. However, this is the beginning stage for them to enter aged society services,” says Phil Smith, Head of Retirement and Healthcare Business for CBRE Australia, to the Bangkok Post.

In addition to an aging society, Thailand is welcoming more retired people from around the world. Retirees choose Thailand because of the country’s infrastructure, attractive tourist destinations, and lower costs of living. Retiring in Thailand is cheaper than in most developed countries and several countries in Southeast Asia. The country also offers warm weather that appeals to elderly people from cold weather countries.

As more elderly people from overseas join the aging population in Thailand, foreign developers will likely enter the country through joint venture agreements with local companies to develop senior housing and facilities. A number of overseas companies already partner with local developers on condo projects in Bangkok, but these don’t target elderly residents.

“Thailand is an ageing society and the demand for housing and facilities for senior citizens will increase significantly. Thailand can learn from the successes of the Australian market, which has more than 3.5 million senior citizens who receive quality services provided by private and government organisations. There are huge opportunities for senior housing and healthcare businesses. Our study found that senior people [in Thailand and over the world] need specially designed homes with full services,” says Smith.

More insights about Bangkok property market, check out DDproperty Property Index Report and DDproperty Property Market Outlook Report and find out how much you can afford for  your new house, try our mortgage calculators . 

Receive the latest property news on email from Thailand’s No.1 property website here, or read more project reviews


ข่าว-บทความอื่นๆ ที่คุณอาจสนใจ

Market Trend Shifts with More Female and Senior Citizens

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

อ่านต่อ12 ก.พ. 2561

Thailand Developers Facing Challenges in 2018

The growth of the real estate market in Bangkok has been significant over the last 5 years with a large amount of condo projects, retail space, and office buildings all launching. However, new challen

อ่านต่อ13 มี.ค. 2561

Property Bubble Concerns Eased By Land Windfall Tax

A bubble in the Thailand property market is less likely to happen now thanks to the land windfall tax that will allow real estate developers to be more cautious in assessing market demand, reports loc

อ่านต่อ15 มี.ค. 2561