Luxury retirement properties
Winning Features & Facilities That Sell Luxury Retirement Properties
What are the main selling points that persuade an increasing number of discerning over 55s of independent means to purchase purpose-built, high spec, luxury retirement properties? Apart from the standard offerings associated with most retirement complexes, extra popular pulling points include:
- Architectural excellence: innovative design, individual character, unrivalled specification;
- Stunning setting: open spaces and superior landscaping;
- Amenities: on-site restaurant, café, bar, library, shop, hairdresser, etc.;
- Services: dedicated access to medical and dental practitioners, optician, Chiropodist, etc.;
- Communications: state-of-the-art computer facilities, broadband internet access;
- Exercise & sports facilities: gym, tennis court, squash court, bowling green, dance classes, etc.;
- Extra security: e.g. long-term ‘lock-up-and-leave’ facilities aimed at mobile, new generation ‘oldies’ who wish to leave their homes unoccupied for extended periods;
- Parking: allocated lock-up parking with CCTV surveillance;
- Concierge services 24/7: flexible assistance, someone prepared to offer ad-hoc help, e.g. accept home deliveries, etc.
Luxury Retirement Properties – Location, Location, Location
It is a well known fact that the right location shifts properties far more rapidly than any other factor, hence the keen competition amongst specialist retirement developers to snap up land for development in plum locations.
Now, location tends to be a particularly big issue for the over 55s searching for their perfect retirement property or possibly looking to relocate. Clearly, ‘retirement community developers have to start focusing on creating environments and intuitive housing in locales lusted after by the over 50s’, (Esmonde Crawley, international expert on over 50s housing trends), if they want to stay ahead of the game.
Coastal areas, for instance, have enduring appeal for those in search of their dream retirement property. From a developer’s point of view, popular coastal retirement locations are generally better able to weather the current slowdown in the housing market than less appealing areas elsewhere.
Nevertheless, many specialist retirement developers are looking beyond the traditionally popular coastal regions for a decent return on their investment. They realise that they are no longer catering for a predictable retirement generation with fixed aspirations and expectations. Having considerable buying power, today’s over 55s demand more from their retirement properties; they are looking for nothing short of an inspirational lifestyle change – an opportunity for a fresh start, typically in luxury surroundings. This just goes to show the importance of location, for potential purchasers of luxury retirement properties abroad.
The encouraging news is that specialist retirement developers in Bulgaria are striving to supply retirement properties with a difference. Prime locations are being earmarked for development on up-market sites; the focus is on developing retirement villages or communities that are unique and ooze exclusivity.
Over 55s Target Market for Luxury Retirement Properties
Exactly, who are these over 50s with commercial clout, looking to buy luxury retirement properties abroad?
The over 50s ‘baby boomers, having throughout their lives been at the forefront of radical attitudinal and social change, are different to current generations of older people and will redefine the meaning of retirement’.
These sophisticated consumers are a powerful economic force, which above all rejects cliché-ridden stereotypes associated with an ageing population.
UK Ageing Population: Facts, Statistics & Retirement Property Trends
- According to Heyday (organisation aimed at older people and affiliated to Age Concern), the number of over 50s in Britain now exceeds the 20 million mark. To quote Heyday: ‘A quiet revolution is taking place in the UK. People want to make the right choices to prepare for a very different kind of retirement to that experienced by their parents and grandparents’.
- Sometimes referred to as GOTYS (Getting Older, Thinking Younger), the over 50s are for the first time, the largest and wealthiest consumer group in the UK.
- Official figures from media agency OMD confirm that today’s over 50s are richer, have greater disposable income and generally enjoy a better lifestyle than their parents did at a similar age.
- A new survey relating to trends in ‘future proofed’ homes has revealed that as many as 29 percent of the British population would willingly fork out an extra £10,000 for a luxury property which was specially adapted to make life easier in old age.