Colliers Market Report Denmark 2023

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Residential - Colliers Market Report 2023

Three senior housing types Senior living communities : Residents have their own apartment complete with kitchen and bath, and, as part of the community, they have access to a series of facilities and activities, such as a communal kitchen, common rooms, an orangery, petanque courts, sharing cars as well as guest rooms. Targets typically 50-75 year-olds. Senior-friendly housing: Housing designed for cit izens able to cope in their own home, but the layout has been modified to allow for e.g. a wheelchair, i.e. wide doorways, absence of doorsills and spacious bathrooms. Less focus on the social aspect compared to senior living communities. For-profit assisted living facilities: The privately run equivalent to municipal care facilities. The local authority approves the eligibility of each resident for referral to assisted living, partly reimbursing the oper ator for providing nursing and care to the residents. Several investors are already active in the segment or about to become active. Among domestic pension funds, this applies to e.g. PensionDanmark, PFA and Sampension, among private market players it applies to e.g. Koncenton and NREP/Tetris. Mainly senior living communities have made a good start in terms of high occupancy rates, with several developments fully let from day one and even sporting long waiting lists. Sharper focus on senior citizens Focus is not only on the markets for the young and sin gle-person households. Demand has picked up for senior housing too, with the ranks of senior citizens or elderly Danes growing at a rapid rate these years, partly due to large generations in 1940-1970, partly due to our longer life expectancy. Senior citizens are flocking to bespoke housing con cepts, away from single-family houses and apartments with bedrooms long vacated by grown children. At the same time, they are drawn to housing offering some sort of community, a senior-friendly layout, and perhaps optional services. Even in retirement, many senior citi zens have strong personal finances on account of pru dent pension savings and possibly positive equity from decades of home ownership.

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Photos: NREP, Agorahaverne