By 2020 South East will have the most new private retirement living units

Michael Lloyd

July 31, 2018

By 2020, the South East will benefit from the highest number of new private retirement living units at 2,733 and afterwards the South West is set to gain the next most private retirement units at 2,060.

Commercial property company SavoyStewart.co.uk, analysed findings from Knight Frank to find at the other end of the scale, the North East will see the lowest amount of private retirement living units, with only 79 expected to be completed by 2020.

Wales will have the second least number of private retirement units, with just 125 set to be finished within the next two years.

Darren Best, managing director of SavoyStewart.co.uk, said: “The demand for specialist retirement properties is only set to increase in the future as the general population lives longer.

“As private landlords and developers cater to this demand, by designing and constructing new retirement living units, they should wisely deliberate over the various wants and needs of the elderly.

“This research certainly shows that there are features and facilities that elderly Brits desire and would be more than happy to pay a premium for.

“Whilst some features and facilities are prioritised over others, they all provide a fantastic blueprint for private landlords and developers as to what the older generations are ideally expecting when they envision a good retirement property.”

Overall, from the eleven UK regions, a grand total of 9,540 private retirement living units are projected to be fully complete by 2020.

A ‘dedicated secure parking space’ is the feature/facility singles (25%) and couples aged 50-64 (31%) as well as those 65 and over (24%) would be most willing to pay a premium for when seeking a retirement living property.

Though it should be noted, couples aged 50-64 (31%) would equally opt for a ‘en-suite bathroom in each bedroom’ when deciding upon a retirement living property.

Contrastingly, ‘walk-in wardrobes’ is the feature/facility singles (13%) and couples (12%) aged 50-64 as well as those 65 and over (12%) would be least prepared to pay a premium for.

Those 65 and over (12%) are likewise not too eager to splash out an additional sum on air conditioning and similarly, it failed to garner much interest from singles (15%) and couples (13%) aged 50-64.

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