Team Blitz India
NEW DELHI: India is likely to have 1.5 million new senior living facilities in 10 years as the population of the elderly more than doubles, said a report by a real estate consultancy on April 17.
CBRE said 17 per cent of the world’s elderly – people aged 60 and older – will be in India by 2050. The country has some 150 million elderly people and their number is expected to rise to 230 million in 10-12 years, according to the report called ‘Golden opportunities from the silver economy – analysing the future of senior care in India’.
The senior living segment includes housing and services that provide elders social engagement and independence. It includes independent living communities, assisted living facilities, memory care units, and continuing care retirement communities.
“The total estimated target for senior living facilities in 2024 is around 1 million, projected to increase to 2.5 million in the next 10 years,” said the report. India now has 18,000 senior living units, or a penetration rate of 1 per cent. It is 11 per cent in the United Kingdom, 6.7 per cent in Australia and 6 per cent in the USA.
