The consultancy firm Colliers has drawn up a report in which it certifies that, in the next 15 years, Spain will need to create 200,000 places in old people’s homes in order to be able to meet the demand. In total, they estimate that 37% of the population will be over 65 in 2050.
In the eight largest European countries, the elderly segment will number 21.7 million people in 2035. 25% of the population in Denmark, France, Germany, Italy, the Netherlands, Poland, Spain and the UK will be over 65.
Damian Harrington, head of research at Colliers EMEA, believes that as the baby boom generation ages, demand will increase: “They will want state-of-the-art facilities that focus on technology and quality healthcare provision. He also believes that they will have greater purchasing power than today’s seniors and this will lead to new demands.
Demand is geared towards specialised residential products: Senior Resorts, Retirement Communities or Tailor-made Residences. Consumer spending on private healthcare and private insurance will also continue.
In recent years, Spain has seen an increase in the supply of beds in this market, linked to the entry of new investment groups in a sector that has historically been managed by public administrations or non-profit organisations.
According to data from the Brains RE real estate platform, in 2019 there were more than 360,000 nursing home beds in Spain, but these were geographically distributed asymmetrically.
Of the 363,581 existing beds, some 144,160 belonged to the private sector and 96,550 were in the hands of public administrations. Almost 90,300 were owned by the third sector (associations and other non-profit organisations) and 32,600 were under administrative concession.