Retirement property demand 'likely to grow'Retirement property demand 'likely to grow'
Demand for retirement property is likely to get stronger because of an ageing population, one developer has said.
According to McCarthy and Stone, where there is a sufficiently large population of people who are of pensionable age, there will be a demand for properties.
Anne French, spokesperson for the firm, said that many pensioners are opting for retirement homes in an effort to "downsize" their lifestyles.
"Many of these empty-nesters may be still living in the family home, which is proving too big for their needs or too difficult to maintain," she stated.
"In terms of location, [there should be a] policy of building within easy reach of local shops, public transport and other amenities, as a central location is always popular with buyers."
Among the companies that development retirement properties is Bovis Homes, which has been building apartments for this purpose for more than two decades.
Over 40 developments have now been established, many of which have won national awards.