Search
 

Prosperity Creates Opportunities for Sr. Housing

Think the demographic trends look promising in the US? The real seniors housing boom could be happening further east.

By Sule Aygoren Carranza | Updated on November 10, 2008

[IMGCAP(1)]In many Asian countries, family networks and the responsibility that tradition bestows on them have been paramount to local culture for generations. Yet, in recent decades, the wave of capitalism and subsequent Westernization has chipped away at that framework.As individuals move from farms and small villages to work in businesses and factories in urban areas, a burgeoning middle class is taking hold. The effect is that the concept of the traditional household is breaking down and shifting, along with expectations.

When it comes to care-giving for seniors, many countries in Asia have traditionally relied on the family unit, says Robert G. Kramer, president of the Annapolis, MD-based National Investment Center for the Seniors Housing and Care Industry. “With increasing mobility, young people are moving to the cities and parents oftentimes remain in the country, so the cohesive network that had been expected to provide that kind of care has broken down,” he explains. “There’s a huge void in terms of where that care is going to come from.”

If demographic trends continue the path they’ve been on, there will be a great number of seniors to care for. And when combined with the economic growth occurring in those countries, experts believe that the opportunities for investors and operators of seniors housing across Asia are beginning to materialize.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.