The market for senior livingThe residential model, a residential model focused on foreign retirees, continues to have a limited presence in Spain, despite the fact that the country has very favourable conditions for this type of residence. However, this panorama is changing rapidly. According to recent reports, the supply of senior housing in Spain, which we will refer to as Flexible Accommodation In this context, it is expected to double in size by 2030. From approximately 4,000 units in operation today, it is projected to grow to 8,000 units in the coming years.
This remarkable growth of the Flexible Accommodation is directly linked to the expected increase in the number of retired European citizens choosing to reside in Spain. This figure is expected to rise significantly, from 316,000 in 2024 to 415,000 in five years' time.
Spain stands out for offering very attractive conditions for this residential segment. These advantages include a high quality of life, a favourable climate, an affordable cost of living and a rich and extensive cultural and gastronomic offer. Indeed, the Mediterranean coast in particular has the potential to become a world reference for this type of tourism. Flexible Accommodation.
In spite of this potential and the favourable conditions, the Spanish market of Flexible Accommodation The senior citizen sector has not yet reached the level of consolidation seen in other more developed markets, such as the United States, the United Kingdom or France, where large specialised companies operate. A major challenge for the consolidation of the sector in Spain is the shortage of experienced operators.
However, the current context presents a clear opportunity for investors. The announcements of agreements of joint ventures to develop Flexible Accommodation in the last two years have boosted investment in these assets. Demographic change underscores the relevance of this opportunity for investors interested in diversifying their portfolios, especially in the healthcare sector.
It is anticipated that demand for this Flexible Accommodation to focus in particular on the coastal regions in Spain. Areas such as the Valencian Community, Andalusia, Murcia and the Balearic Islands, which already have a significant presence of retired European citizens, are the places where this demand is expected to be most concentrated.
In short, the market for Flexible Accommodation The senior living market in Spain is in a dynamic growth phase, driven by demographics and the country's favourable conditions. Although it faces challenges, the opportunity for development and investment is clear, especially in coastal areas.