Number of Retirement Village Units in Australia to Double by 2021: Ernst & Young

“If, conservatively, the take-up of retirement village units amongst people aged 65 was to remain constant, this would still necessitate a marked increase in the number of retirement village units required, given the relative increases in aged population.”

Australian Property Institute Victorian president Chris Plant told The Australian there are 76,000 people living in 1800 retirement villages nationally.

It’s estimated 3.25 per cent of Australains aged 65 and over lived in retirement villages, but this could surge to as high as 5 per cent, Mr Plant said, adding that in the US, 7 per cent of people older than 65 live in aged care accommodation.

Share or Recommend article

Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco

Leave a Reply

Your email address will not be published. Required fields are marked *