UK Retirement Villages Need International Developers

Liam Bailey, head of residential research, Knight Frank, commented: “An explosion of grey hair has significant implications for the future of retirement housing and the wider residential market. Older households will represent half of all household growth between now and 2026 and it is important that the development, construction and care industries recognise this opportunity.

 

“Thinking and practice in the UK retirement sector has long lagged behind innovation in Australia, Scandinavia, the US and New Zealand. Retirement villages have been popular for decades in these countries. However in theUK, there are still relatively few implying there are strong prospects for growth as the concept becomes better understood.”

 

“The growth in popularity of retirement villages stems, fairly obviously, from our increasingly ageing population and the growing assets its holds, but also from a growing tendency for older people to place a positive emphasis on the need for security, socialising opportunities and convenience. The need to release equity through a downsizing move may also impel a greater shift towards specialised retirement housing.”