Real estate business for Thai aging society, a big market to watch

The elderly market in Thailand

As of today, 2023, Thailand has become an aging society. Thailand has stepped into the aged society since 2005 until now. Thailand has a proportion of the population of the elderly or aged 60 years or more, more than 12 million people, or about 17% of the total population of the country. Ranked second in ASEAN after Singapore In addition, Thailand is expected to become the world's first developing country. that has stepped into a complete aged society (Aged Society)* plus aggravated with a lower birth rate than 600,000 people per year, while the death rate is higher which means that the Thai population The total number has been declining since 2022.

There are many problems that result from being an aging society, for example, the country's labor shortage, which is not enough people to work for the growth of the economy. And, of course, less taxpayers respectively. The problem of collecting income from personal income tax of the country It tends to decrease with the working age decreasing. public health management problems which is well known that Elderly people tend to have health problems as they age. Non-communicable diseases such as diabetes, blood pressure, cholesterol, cerebrovascular disease and heart are all in line with the deterioration of age. which must be maintained And it costs a lot of money. If you reach the stage of lying in bed, you can't help yourself. It will result in a problem that families and society have to take care of each other in the long run. Therefore, the housing needs of the elderly are different from those of other age groups. generally moderate

5 factors that seniors look for When wanting to buy a house **

1. Increase personal space by 44% because when you get older, you need more peace. Therefore, it is necessary to have a personal space that does not want to be combined with members of different ages. Because of the behavior of using the space of different people of different ages will cause each other to naturally disturb each other Having a personal space for the elderly will make them happier.

2. want to live in the location Or a new atmosphere, 31% because the elderly are retired In the past, they may live in a house, condo, or apartment near their workplace for the entire 30-40 years of their working life. After retirement, there is no need to stay in the same place of residence. It gives him the opportunity to choose to live anywhere he likes.

3. Pay attention to convenience that is 26% more, for example, being near the hospital, the original workplace, school, being near the hospital. It should be in the second place than being close to work or school. After retirement, the job does not have to be done. My son has already graduated. The place that the elderly have to go to more often is the hospital. Therefore, being near the hospital therefore becoming important

4. Buy for investment 26% Retired seniors will receive a certain level of pension, or most of them have already paid off the house and car, so there is enough money left to invest Plus, they have some level of investing experience. investment purchase Therefore, it is one of the choices for people of this age.

5. Buy to increase the space for elderly family members starting to have grandchildren who are growing up. Studying at university or maybe just got a job. Therefore, I would like to have more personal space. If the new housing can meet the needs of the offspring Elderly people are ready to buy that property for their beloved children and grandchildren.

Therefore, if any land developer wants to capture the elderly market It is necessary to understand the behavior and factors in buying a residence of this age correctly. for design, construction or choosing a location to please the retirement age If it can be done as follows, as in the past, he said “Build houses according to the wishes of the residents. Tie the garage according to the sleeper's wishes. I guarantee that it will sell well for sure.

* Source: Dr. Watch Kasemsub

** Source: DD Property

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