Developers are modifying unit spaces to suit the needs of the elderly such as handicap-style toilets
As Thailand’s population is rapidly ageing, this segment holds great potential for various industries including real estate, reported Thaiger.
According to a source, the number of people aged 60 years old and above is rising and predicted to make up 30 percent of the total population in the next 14 years.
Many developers in the country have started renovating their units to be fit for independent seniors with a universal design that is equipped with particular facilities and services.
Some features that will be included in such modified living spaces include emergency buttons that link to a care centre with nurses on standby 24/7.
Other amenities are for instance ramps, handicap-style toilets with railings, and more that are tailored to meet the needs of an elderly resident.
On top of Thais that will benefit from such properties, wealthy foreigners who may choose to retire in Thailand could also be attracted to them.
Meanwhile, Thailand’s government is encouraged to simplify measures for foreign property ownership, which include money transfers and medical staff.
Atip Bijanonda, vice-chairman of the Board of Trade of Thailand, notes that these stringent regulations are making it hard for foreigners to purchase condos, which also creates an obstacle for economy-boosting.
Currently, the government is targeting affluent long-term residents, remote working professionals, wealthy pensioners, and highly-skilled professionals for foreign property ownership.
With the aim of attracting one million of these buyers, THB1 trillion is expected to be contributed from this sector per year.
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