The challenge of retirement when wanting to get home

The aging society is going to be a large part of the global society that means more than life expectancy or the number of elderly members that are growing rapidly. Which affects the working age group that will have a small amount of retreating according to life expectancy While the birth rate to grow into a replacement labor age has decreased Which the government needs to collect additional taxes to take care of the increasing number of older people as well

At present, Thailand has 9.5 million elderly people, divided into 855 million healthy and self-reliant groups. World Bank estimates that in the next 30 years, the Thai population will increase by 37.1%, or Proportion of more than 1/3 of the total population By the elderly who can rely on themselves as the target group of the “Retirement Community” business or housing project for the elderly Which currently has investment plans from both the public and private sectors in various areas throughout the country

By Kasikorn Research Center Revealed that the investment plan for the development of a large retirement community project in a location spread in the suburbs And provinces Should result in the investment value of the Retirement Community project between 2018-2020 is 6,000 million baht and encourages the value of the accumulated Retirement Community project in Thailand to reach 27,000 million baht in 2020 from the current 21,000 million baht

According to the consumer opinion survey of Consumer Sentiment Survey, Treasure At Tampines the latest round of housing demand when the elderly found that …

  • The latest round of 42% of respondents are not yet aware of preparing for retirement. Although it is still quite a number But has a tendency to improve and increase from the previous round to 8%
  • 50% is the number of people looking for Nursing Home and Retirement Community in the latest round, while the previous round is 40%, so it is a better trend for looking for alternative accommodation in retirement.
  • Only 1 in 3 of the respondents Who want to live in a single house when reaching retirement age
  • 67% of respondents want to live in single houses or shelters for older people. When reaching retirement age

Mrs. Kamon Phatavasakit, General Manager of Thailand reveals that even though the public and private sectors will develop housing for the elderly, resulting in a large number of retirement communities, but also the price and market position penetrate the middle to upper-class customers. In contrast to the purchasing power of Thai elderly people, most of them still rely on the main income from their children. Have relatively little savings And most of them prefer to live with their families rather than a rehabilitation facility, home care or shelter for elderly people. With an attitude about being a burden of children or caregivers (Source: The Florence Residences )

In accordance with the situation report of the Thai elderly in 2017 of the Department of Elderly Affairs (MSD), Ministry of Social Development and Human Security Revealing information about the income of the elderly. Although in the year 2017, there will be an increase in the number of elderly pensioners by 8.2 million, which is more than 1.5 times the number of subsistence recipients in 2009, but also found that 1 in 3 of Thai elderly still have income. Under the poverty line Which has the main income from children reduced to only 35%, income from work reduced to 31%, income from spouses only 20% and income from savings is only 2%, while the year 2017 has numbers This not only reflects the increasing number of older people But also refers to the economic income of the elderly who diminish as well. Combined with the trend of modern families with reduced membership numbers As a result, the rate of elderly people living alone increased significantly.

By 41% of the elderly, living with 11.5% of the descendants of the family

For this reason, income and savings are both obstacles and challenges of the elderly who want to buy their own homes. Which the government sector has issued 4 measures to support the elderly society is

1) Employment of the elderly To create security and stability in the income of the elderly to be able to support themselves longer

2) Creating housing for the elderly Encourage the creation of suitable accommodation in both forms And have specific facilities for the elderly

3) Reverse mortgage, which provides loans to seniors aged 60 years and over, but not over 80 years old, is not a pensioner No reserves

4) integrating the pension system Is a support for compulsory savings in order to secure stable income at the age of

However, the Retirement Community entrepreneurs have equally challenging. Because of the need to develop accommodation styles to meet the needs of both the design, usage and other services of the elderly, which are quite different from the typical accommodation Also need to make the price to match the target group as well

Which can be divided into 3 groups based on the following budgets: 1) low-income medium Purchasing power of not more than 2 million baht 2) medium income, high purchasing power 2-10 million baht and 3) high income + foreigners living in Thailand are buying 10 million baht or more (Source: Kasikorn Research Center )

At present, public and private agencies have become more interested in this business. By releasing many projects that support the elderly population into the market

In addition, the introduction of Smart Home technology is used to facilitate and provide safety for the elderly. It is a part that helps attract the target group. Especially those with higher income levels because of the high purchasing power

New opportunities of financial institutions offering products to penetrate the aging market, whether it is home loans, Bupharpanniwat. Of the Government Housing Bank (GHB) that allows borrowers aged 50 years and over to borrow money to buy land with real estate Or buy land to build buildings There are also housing loans. Filial piety Of the Government Savings Bank For groups of people who take care of elderly people, such as children or relatives. Who are under 65 years old, able to borrow money to buy land And real estate For living with parents

The government’s reverse mortgage policy came out to support the elderly who have their own accommodation, which can be used to generate cash to spend on daily life in retirement. Therefore is an alternative for the elderly to have money to reserve, instead of income from lost work

For older people or those who want to prepare for retirement living in retirement Can search for housing to meet the needs, whether it is location, price, area size, facilities and details of the residence, can view the video image or Visual Reality (VR) of the actual location to be used for decision making At DDproperty.com With project reviews Along with the feature to calculate the maximum loan amount for the estimated housing by yourself Which will give you the opportunity to find and choose the accommodation that is truly relevant

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