Unlocking the retirement opportunity in a post-pandemic world
by highlighting the gap between supply and demand for retirement real estate.
An introduction to our latest real estate report:
Kevin Beirne, Head of Retirement, along with Phil Schmid from CBRE, Nick Sanderson from Audley and Kathrine Rose from Elysian discuss the key findings from the report. Together, they share their thoughts on what’s surprising, interesting and challenging about the findings.
Life begins at retirement – investing to create impact for the older generation
For many, retirement is an opportunity to embrace a renewed zest for life. Our research shows almost two thirds of those surveyed believe that retirement will be the best years of their life. The “grey pound” are clear about what they want to support a reinvigorated lifestyle – all of which come with being part of a quality retirement community typically including landscaped gardens, spas, swimming pools, gyms, restaurants, bars, and hair salons. Alongside a programme of social activities to help prevent loneliness the impact benefits are clear to see.
The demand for modern retirement real estate is both strong and growing
There is already strong demand for retirement real estate in the UK despite it being a nascent market. Speaking to the over 55s, it was apparent that many were not fully aware of what a retirement community can offer them. Almost a fifth of respondents believed they were similar to care homes. However, once respondents were given an insight into the stylish designs of the homes, the number of services available and the wide range of amenities on offer, increasing numbers were interested in considering this type of lifestyle for their retirement.
The Covid-19 effect – considering a better way of life
The global pandemic has had a profound effect on many people’s lives with many reappraising the type of lifestyle they want to live – and this is no different for those either retired or thinking about retirement. Many of those surveyed were forced to shield during the heightened social restrictions, and felt lonely as a result, while everyday household maintenance was stressful for many, with almost half of those surveyed unable to keep up with maintaining their home. Retirement communities offer a modern, low maintenance and increasingly attractive alternative.
