One of the most lucrative real estate sectors is senior housing. In a recent survey by the National Real Estate Investor (NREI), and the National Investment Center for Seniors Housing & Care (NIC) rated senior communities an attractive investment over retail, office, industrial, apartments, and hotels.
According to Senior Housing News, “The basic characteristics of seniors housing assets make them attractive to own, and they are increasingly being recognized within real estate portfolios as a means to diversify across core property types.”
“Some of the characteristics of a core real estate group are steady returns, strong income returns, steady cash flow, very strong tenant base,” said Beth Burnham Mace, chief economist for NIC.
The growing number of seniors is often dubbed as ‘the silver tsunami’, because of their large demographics. Which is why so many investors are flocking to the senior community.
“The demographics will keep getting better,” Mace said. “As we move forward, that group is only getting larger and larger—a tsunami of people getting older.”
“There is a big opportunity for new properties in senior living, as 58%of the stock is more than 17 years old, with 32% being older than 25 years. As these properties age, they will become obsolete as care advances, tastes change and regulations advance. Older properties offer an opportunity to be refurbished or replaced for real estate investors.” Senior Housing News.
Today’s Senior living community resemble elegant resorts with fresh designs, top amenities, and beautiful tranquil surroundings. Existing housing should ensure their establishments keep up with the needs of today’s retirees and draw in new residents.
Incorporating a fresh design into a new construction or a simple upgrade to an existing property can dramatically improve the environment, quality of life for the residents, and foster wellness.
Seniors are expecting rehabilitation and fitness that are taken to the next level with heated pools, personal trainers, walking tracks, and spas.
Beautiful scenery, gardens, ponds, outdoor terraces, and walking trails, make the community feel welcome and encourages the residents to enjoy the world outside.
Buildings equipped with wireless technology, computer labs, cinemas, encouraging learning and communication with lecture halls, library, and space for social activities can help residents be happy and live longer healthier lives.
Simple upgrades and new modern design can drastically improve the senior environment and foster wellness. It will also go a long way towards keeping the occupancy rate high.
SWET Construction Group has the experience to build cost efficient building with the latest trends and designs for your multi-family housing or the senior housing.