Launch of the Senior Housing & Healthcare Association:
We have connected some industry leaders as founding members to raise ‘The Senior Housing and Healthcare Association’. We invite all purpose driven parties to join and shape the new association.
There is real momentum behind the senior living and healthcare sectors in Europe, as demographic factors point to increasing demand and low supply. What used to be an alternative asset class has become mainstream as it catches the eye of institutional investors from all over the world.
Senior living is huge in the US and Japan and growing in France and other parts of Europe, driven by long-term demographic trends and changing elderly living habits. According to Savills research, the European senior housing investment volume totalled more than €700m in the first three quarters of 2019. Investment in healthcare has reached its highest ever level, with the majority targeted at the elderly/long-term care sector.
Part of the attraction for healthcare in particular are long stable leases and long-term cash flows. Another positive is that healthcare is not linked to the economic cycle. What are the prospects for these sectors? There are marked differences between Northern and Southern Europe. Which countries offer the best opportunities? Based on demographics change potential, the maturity of housing markets, private wealth of the elderly population and government old-age pension levels, Germany, France, the UK, Italy and Poland offer the best opportunity for the senior housing demand to expand.
Is it possible to have a Pan-European strategy in this sector? Institutional investors are looking for large ticket sizes and portfolio deals: where are they likely to find them? The operational side is a key challenge: how important is it for investors to strike an alliance with the right operator? What are the pitfalls to avoid?
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