Senior housing affordability issues that must be resolved for high quality residences

India will be at the forefront of this worldwide demographic shift, housing 17% of the world’s senior citizens (about 2 billion people) by 2050, according to the United Nations Population Fund. The Association of Senior Living India has released another research that emphasizes how susceptible senior individuals are to health issues. These include infections, chronic illnesses, and cognitive decline, all of which call for a sophisticated strategy when it comes to healthcare delivery and their integration into senior-focused housing developments. It also brought attention to the necessity for specialized geriatric healthcare facilities and a skilled workforce that could take care of elderly residents’ needs nearby, if not on the grounds of residential developments.


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Elderly people experience neglect and inadequate medical treatment

The elderly are often left alone as children leave in search of better educational and career possibilities. A person’s ability to perform daily duties is affect by aging, which also causes a deterioration in strength, movement, sensory perception, memory loss, slower processing speed, and difficulties learning new skills. Their health is further impact by the lonely and isolate lives they frequently inhabit. In order to mitigate these challenges, a targeted strategy that combines social services, healthcare, and policies with communities that encourage inclusive living in single-gated residential properties is need.


Senior citizen housing is in high demand

Purchasing land is one of the biggest obstacles. It raises the price and financial strain associated with housing construction. The absence of specialized facilities and maintenance services catered to senior citizens’ demands exacerbates this problem.


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Imbalance between the supply and demand

A primary obstacle is the mismatch between supply and demand. Despite the fact that senior housing is becoming more and more necessary, very few developers are actively working in this market. Furthermore, there are potential and challenges for developers in this sector due to the high unit costs of senior citizen real estate, which are estimate between 15% and 20%, and the faster sales rates of 25% to 30%.

The problem is made more difficult by the lack of specialize facilities. While many Indian cities—including Bangalore, Chennai, Pondicherry, Dehradun, Rishikesh, and Pune—have senior-friendly climates and atmospheres, there hasn’t been enough development of senior-friendly housing options.


Finance is the primary issue

One of the biggest issues facing real estate developers in this market sector is finance. The viability of senior living initiatives is affect by the Goods and Services Tax (GST) on services, cash flow, and obtaining funding sources. Senior living projects, in contrast to traditional residential constructions, frequently depend on back-end sales, which can result in costly financing and cash flow issues.


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In summary

These difficulties are solvable. But they need cooperation from all parties and broad regulatory support. Senior living projects can become more financially viable with the implementation of policies like those that support reverse mortgage standards and give seniors tax breaks. Furthermore, in order to remove obstacles and guarantee the availability of respectable housing options for India’s rapidly aging population, cooperation between developers, governmental organizations, and regulatory agencies is crucial.



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