Back

Senior Living in Spain: 500 million euros in investments

The concept of Senior Living, a housing model designed specifically to meet the needs of independent older adults, is experiencing a boom in Spain. According to the latest study by Atlas Real Estate Analytics, a consulting firm specializing in data science applied to real estate, an investment of 500 million euros is expected in projects of this type, marking a milestone in the Spanish real estate market.

 

The pipeline of projects includes a total of 3,229 units distributed throughout Spain, with Malaga as the leader with 4 assets and a total of 1,694 units. It is followed by Madrid (4 assets, 562 units), Santa Cruz de Tenerife (1 asset, 298 units), Alicante (2 assets, 262 units) and Barcelona (1 asset, 209 units). This momentum reflects the growing demand, both nationally and internationally, for this type of housing adapted to the needs of the elderly population.

 

Alejandro Bermudez, CEO and Co founder of Atlas Real Estate Analytics, highlights the promising trajectory of Senior Living in Spain: "As we have seen with student residences and other assets such as BTR (Build to Rent), Senior Living is projected as an asset with a broad trajectory. Population and economic dynamics suggest that Spain is in a privileged position to attract high purchasing power demand, both nationally and internationally."

 

Senior Living, also known as Independent Living, Active Adult Communities or Senior Co-Housing, focuses on providing adapted housing for independent seniors who do not require ongoing medical care. These types of residences address the growing demand from those who are retiring and looking for a lifestyle change, more comfortable housing or a reduction in space once their children have become independent.

 

These residences offer a wide range of amenities and services, such as housekeeping, laundry, recreational and social activities, access to sports and leisure facilities, physiotherapy, 24-hour security, home and common space maintenance, among others.

 

The business model of Senior Living residences can take various forms, including sale, rental or right-of-use, providing financial flexibility to residents. This flexibility is essential, since the cost of the service is one of the main barriers to its commercialization. For these reasons, this type of real estate, which has not yet been massively extended in Spain, will experience significant growth in the coming years.