New real estate trends for the 50+ sector

Seven countries in Latin America (1. Costa Rica, 2. Mexico, 3. Panama, 4. Ecuador, 5. Colombia, 6. Nicaragua, 7. Peru) are considered among the 10 ideal retirement destinations worldwide according to the Annual Global Retirement Index 2018 -AGRI 2018-, a situation that we see is a great opportunity for the different governments and the business and tourism sector to understand the potential they have, based on the baby boomer of North America that amounts to 116 million people over 50 (almost the total population of Mexico) and who are currently between 54 and 72 years old, are reinventing how they will live their retirement stage and have demonstrated that they are not sedentary entities, will be the purchasing power, will be the generational population that makes use of the tourist destinations of these countries with high chances of staying to file part time or full time at the time of choosing their retirement destination.

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In CILA 2018 – III Costa Rica Latin American Real Estate Congress 2018, in my presentation “Communities of Retirement: An industry in full growth in Latin America” organized by the Costa Rican Chamber of Realtors (CCCBR) in San Jose, Costa Rica, before more of 700 real estate developers from 18 countries in Latin America, North America and Europe, I could assure you that no region of the world has this degree of acceptance, baby boomers have set their sights on these countries, and if we see it as a single region, there is a great opportunity for LATAM to develop micro cities or tourist destinations focused on the concept of Senior-Friendly Destination, which would trigger a tourist movement that benefits the airport sector, the hotelier and the service sector, since they are already qualified as destinations that offer quality of life at an accessible cost of living, which will give confidence to retirees to “visit” and make residency exchanges in these destinations.

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As for Costa Rica, this country has been among the top 5 favorite destinations for baby boomers for several years and in particular, in this 2018 is considered the number one worldwide – According to the AGRI 2018-. This country should take advantage of this free publicity and create public policies to facilitate the development of the Retirement Assistance Industry. I have recommended not to include this great opportunity within the sector of medical tourism or health tourism since the factors that attract older adults to retire outside their country of origin are totally different; that although in business models such as Assisted Living 2nd phase, Skilled Nursery Facility or Memory Carewhere dependent elderly people are treated with chronic degenerative diseases or memory problems there is a similarity, it must be understood that they are different situations, here we do not talk about a few days, here we talk about day to day, 365 days 24/7.

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Currently we can not leave aside the local market, it is estimated that there are 107.7 million older adults in Latin America and by 2030 there will be 198 million and these will not be the exception of how they will live their aging process, they are sure that their children or grandchildren will be able to take care of them, which makes them ventilate the need to look for alternatives. In the case of Costa Rica with a population of more than 2.5 million older adults by 2050 that represents more than 41% of the total population, it will be advisable to observe those European countries that already have these demographic trends and establish actions for a possible solution and ventilates a great business opportunity in real estate and services.

It is a fact that sociocultural movements such as: Wellderly (elderly people who enjoy good health) and Ageism (stereotype and discrimination against individuals or groups depending on their age) are establishing new canons in real estate complexes, since those complexes that do not promote staying active and independent will not be welcomed by seniors and those investors and developers who want to bet on residential real estate projects 50+ Lifestyle & Friendly Communities or also known as High-End Senior Living should understand that what worked for the potatoes of the babyboomers It will not be an option for baby boomers at all. “

Now it will be more common to hear about Eco-housing , Co-Housing , Co-LivingWellness Living Center , Holistic Living Center as well as the COLI Project, which has developed AMAR Consulting which is a combination of Co-housingwith Co-Living designed exclusively to respond to the female sector 50 and more.

In conclusion, we can affirm that the 50 + Lifestyle & Friendly Communities should focus on creating environments that are not only “beautiful” but “functional” and that promote physical, mental and social activity; and, encourage independence. As for its structure, they should be based on the concepts of sustainability and technology, but above all they will have to have a high degree of community that provides a better quality of life to the elderly.

Javier Govi is a visionary founder of the AMAR Group and a pioneer of the Retirement Assistance Industry in Mexico and Latin America. He has created innovative concepts and schemes for residential real estate complexes that satisfy the aging process of baby boomers in North America and the elderly. of Latin America, for today and for the future. Being congruent with what he proclaims, he has developed the FIT50 + Project, the Hiking Wellness and is championing the #TVtime hastag with the purpose of promoting Wellness and Wellbeing Philosophy in the elderly and joining the WELLDERLY movement; likewise, he has joined the AGEISM movement through his hastag # proudly50ymas.

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