Viewpoint | Intelligent Investment

The Market for Senior Living in Ireland

October 6, 2023 14 Minute Read

The publication of the Irish Population Census 2022 confirmed that the national population is growing at a tremendous pace
While Ireland is noted for its young and productive demographic, the national ‘aged population’ is also increasing significantly
The age bracket with the highest increase in population in Census 2022 was the group aged 70 and above
The population in this age bracket increased by 26% during the period 2016-2022
Ireland’s population aged 65 and over is now forecast to reach over 1.5 million people (25% of the national population) by 2051
Only a small percentage of this age group (4.5%) will require nursing home care, meaning the vast majority will age within their own homes and communities; living either independently or with some supports in place
It is this population demographic that ‘Senior Living’ schemes aim to attract, as they provide a “right sized” solution in a low maintenance home with security and social company
The concept of Senior Living is hugely successful in many parts of the world already, and has gained popularity particularly in the United Kingdom
This report takes a closer look at the concept in an Irish context, and explores the current and future landscape for senior living schemes in Ireland