A project-specific market assessment is the key for property developers and investors to succeed. Assessing local market conditions and unmet demand will help you appropriately scale and design your retirement living and / or lifestyle living projects.
Capitalising on the growing demographic of older Australians, developers are recognising a lucrative investment opportunity in the realm of retirement living and lifestyle communities. Unfortunately, not every developer grasps the significance of delivering high-quality living spaces paired with a holistic lifestyle that caters to individual needs and preferences. Retirement living and lifestyle living community are keen to see:
- a blend of age-appropriate design,
- recreational facilities,
- healthcare services, and
- social activities,
As the demand for such housing continues to rise, the investment potential in these specialised communities becomes increasingly evident.
What is the difference between retirement living and lifestyle living community?
The Lifestyle community model is known as ‘Manufactured Home Estates (MHEs). This model has gained increasing popularity across Australia in the recent years. The development industry has considered this model as the new retirement village alternative.
What does a market assessment for retirement living and lifestyle living include? How will a market assessment benefit a property investor or developer?
Market assessment for retirement living and lifestyle living will provide you with insights of:
- the housing needs of local older Australians,
- competitive landscape of comparable facilities,
- how well the current demand is being serviced by the existing supply of retirement living and lifestyle living facilities, and
- the projected growth in retirement living and lifestyle living housing facilities.
Knowing the market services gaps will help you scale your development, and guide the choice of products, including ancillary services.
If you are also interested in this retirement / lifestyle living sector, please call our Director, Hong Knowling on 0434 147 607, or via email at info@ppcurban.com.au. Our conversation will be strictly confidential. We will tailor our work to provide you with the maximum return on investment (on us).
The Final Report of the Royal Commission into Aged Care Quality and Safety
The Royal Commission into Aged Care Quality and Safety released its final report in March 2021. For more information, please click here.