Specialised homes for the elderly

City&Country: Cover Story-- Specialised homes for the elderly

By Noelle Lim Sunday, 16 October 2011   THE EDGE CITY & COUNTRY

Villages the aged could retire to  According to the Department of Statistics, about 7.5% of our population or 2.2 million people will be aged 65 and above in 2020. Last year, there were more elderly women than men, mostly widows, and the Chinese made up the highest number of individuals aged above 60 — at 9% — compared with the Malays at 6% and Indians at 7%. Come 2020, the gap between the groups is expected to be even wider, with the Chinese at 14%, Malays at 8% and Indians at 10%. The fact is we have an ageing population whose needs, including housing, cannot be ignored.  Datuk Michael Yam, president of the Real Estate and Housing Developers’ Association Malaysia (Rehda), believes demand for homes for the elderly among the middle class could gain traction. However, these homes need to be rebranded to attract the affluent who are accustomed to a certain lifestyle.  In more developed countries such as Australia, the affluent elderly can choose to own a home in a development that caters for senior citizens.   In Malaysia, there appears to be latent demand for such “retirement homes” but due to cultural reasons and no clear successful model, most property developers steer clear of such specialised housing, citing lack of sufficient demand. Nor is there enough expertise to manage or offer services for the independent elderly or for those requiring aged care.  Read more....