(Posted on Apr 6, 2016 at 01:00PM by Michelle Bogle)
When it comes to demographic shifts, the aging population is a mega-trend that has led to the creation of a vibrant and highly competitive seniors housing industry. As more people age, the need for quality and affordable seniors housing increases. And, in Canada, our population is aging at a fast pace.
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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 slow down either. Based on recent 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 their portfolios by getting into the senior housing sector, the timing is right – especially in Vancouver, British Columbia. With many seniors looking to downsize and sell their homes, there is a growing need for affluent retirement communities offering a range of care options from independent living to private care.Â
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But, to get into this competitive market, investors need to partner with experienced investment specialists.Â
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At Marcus & Millichap, we can help. We offer highly effective research, advisory, financing and transaction services tailored to meet the unique needs of each seniors housing property type. Our agents 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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Partner with a Professional
If investing in Vancouver’s senior housing market is of interest to you, please contact our office at Marcus & Millichap Vancouver. Our highly experienced senior housing asset class specialists are here for you.
