By EjePrime
The active aging of the population in Spain opens doors to the real estate sector with an increase in the demand for complexes that combine leisure and healthcare services in equal parts.
The aging of the population challenges the Spanish real estate before becoming its new gold mine. The progressive increase of people over 65 in Spain, with different demands and needs, opens the door to a new typology of real estate assets for which the sector should bet heavily in the coming years.
As of January 1, 2017, Spain had 8.76 million inhabitants over 65 years old, which represented almost 19% of the total population, according to the latest data available from the Continuous Register compiled by the National Institute of Statistics (INE). ).
In this sense, the older population segment grew by 1.23% in 2017 compared to the previous year, while the group of up to fifteen years shrunk by 0.36%, reaching 7.14 million, chaining its fourth year consecutive to the downside.
In 2031 it is expected that the Spanish population over 65 years of age represents 26% of the total
In 2031, the Spanish population over 65 years of age is expected to represent 26% of the total, compared to the current 19% and the 8.2% that it had in 1960. As a result of this demographic evolution, an increase is expected in the coming years of a type of residential that satisfies the desires and needs of this segment of the population.
The rent is not a very popular option among Spaniards when compared to other territories like Germany. In fact, currently 90% of Spaniards over 65 reside in a real estate property, this being one of the demographic groups in the country that invest the most in residential.
"Currently, in Spain, people over 65 are forced to choose between traditional residential and clinics for people with very high levels of dependence," says Elsa Galindo, director of research at JLL. The trend is for the Spanish real estate market to start developing new housing models already consolidated in other countries such as Australia or the United States to adapt to a new model of the elderly, which is aging actively and wanting to preserve its autonomy.
Senior cohousing is one of the alternatives that gain ground among people who want to age actively. It is a model of community life that took its first steps in Denmark and then expanded to other countries in northern Europe and the United States. These spaces, which combine numerous common areas with individual apartments, encourage group life and in turn protect the independence of tenants.
The complexes that combine leisure and healthcare services not only attract the attention of national buyers. In fact, according to Galindo, "we see a lot of potential in the development of such resorts in coastal areas, especially when it comes to attracting retirees from other parts of Europe." Among the aspects that most value the international group, highlight "our climate, infrastructure, safety and health," underlines the direct.
Retail will have to adapt to the needs of older consumers
Beyond the residential The progressive aging of the Spanish population will affect similarly to other segments of the Spanish real estate. For example, the centers and commercial premises will have to adapt to the needs of this type of consumer. "Those over 65 years of age invest a lot in the retail sector, which is why the buildings of the future must be increasingly accessible," says the JLL board.
The offices, spaces where up to three generations live, will also have to undergo a reform. A greater concern for the welfare of the employee will cause a modification of the design or arrangement of the facilities so that they respond to the different realities of the workers.
If we think in the future, Mexico will soon find itself in the same situation in Spain, since the new generation is more interested in studying and preparing than in forming a family in the short term.
The larger population will continue to grow, while the new generations will wait a considerable time to form their own families and give birth to future generations.
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