Indian Senior Living Sector Poised for Substantial Growth
Mumbai (Maharashtra) [India], May 31: According to Colliers’ latest findings, India’s senior living market has the potential to grow 5x times from current levels to reach an impressive market value of ~USD 12 billion by 2030. This forecast underscores a significant shift towards specialized care and lifestyle offerings that cater to the elderly, marking an [...]
Mumbai (Maharashtra) [India], May 31: According to Colliers’ latest findings, India’s senior living market has the potential to grow 5x times from current levels to reach an impressive market value of ~USD 12 billion by 2030. This forecast underscores a significant shift towards specialized care and lifestyle offerings that cater to the elderly, marking an era of innovation and expansive growth within the real estate market.
The surge in demand for senior living spaces is driven by the aging population’s desire for customized care and enriched living experiences. The sector is set to expand its footprint not only in major cities but also in secondary markets, tapping into the needs of affluent households seeking comprehensive and holistic senior care solutions.
“Like most emerging market economies, the demographic pattern of India is undergoing a steady yet definite shift. The population pyramid of the country will slowly but surely transform from the current expansionary stage to a more stable state in the next few decades. The current nascent senior living market presents a lucrative opportunity for private organized developers to capitalize on the untapped market. With rising interest from institutional players and leading real estate developers, senior housing in the country is set to be almost 5x times by 2030, compared to current levels,” said Mr. Badal Yagnik, Chief Executive Officer, Colliers India.