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Spotlight on Vancouver’s Senior Housing Market
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(Posted on Sep 29, 2016 at 02:22AM by Michelle Bogle)
While Vancouver is a very young, vibrant city, it is also home to a significant aging population in search of senior housing options that suit their needs for care, independence, services and community. And, this population is aging fast, much like other senior populations across the country, which is bolstering a great demand for quality senior housing options from coast-to-coast.
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According to Statistics Canada, 2015 estimates show that, for the first time, there were more Canadians aged 65 and up than children ages 0 to 14. Nearly 16.1% were at least 65-years-old, compared to the 16% of children ages 0 to 14 years.Â
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That number isn’t looking to decline either. Based on population projections by Statistics Canada, the share of individuals aged 65 years and older will continue to increase and account for 20.1% of the population in 2024, while the share of children aged 0 to 14 years should account for just 16.3%.
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For investors looking to expand into the senior housing sector, the timing is right – especially in Vancouver, where many seniors are looking to sell their million dollar homes and transition into luxury residences, offering a range of senior care options, services and activities.Â
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But, to get into this unique market, you need the expertise of an experienced investment specialist – like our team at Marcus & Millichap Vancouver.Â
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We offer highly effective research, advisory, financing and transaction services tailored to meet the needs of each seniors housing property type. Our associates are well-versed in all assets, including seniors’ apartments, assisted living facilities, independent living facilities, skilled nursing facilities and continuing care retirement communities.
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To learn more about our services and expertise, please contact our office to speak with a broker. Or, to view current investment opportunities, please see our featured commercial property listings here.
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