The retirement village concept is still in its infancy in Southern Europe. Retirement villages in the US, Australia and South Africa have existed for some time. Spain is one of the southern European markets (together with France) where the retirement villages concept has been established for some time. Although the number of retirement developments is still small, it is nonetheless larger than many other southern European markets. Quality retirement locations, designed specifically for seniors and operating a range of independent and care options, are often of substantial size, between 50-200 beds or offering independent living of several hundreds of independent units (typically apartments).
Unfortunately, on the Costa del Sol, because of the topography, some of the senior villages are in remote locations and/or inaccessible due to the way in which the mountains are located directly on the coast. Mobility and accessibility are therefore a challenge, although the larger villages have implemented regular shuttle transportation. On the Costa Blanca, the situation is very different as many more locations are flat and offer better accessibility.
Most independent (non-care) long-term senior locations operate an exclusively sales-based model, although a rental model is possible when units are offered by investors. However, due to the limited availability, it is rare to find senior villages available for sale to the general public, with most purchasers coming from a 55+ demographic.
Established retirement communities take time to build. However, due to the 2008-9 crisis in Spain, a number of projects were completed but never operated, or abandoned in an advanced phase. There is an excellent opportunity for investors in this sector to partner with us to purchase senior living projects at substantially discounted prices.
With the help of an increasing number of guests and residents, our aim is to gradually create communities in a number of locations across the Costa Blanca, Valencia and Costa del Sol region. We will encourage new residents to gravitate towards locations where like-minded people of a similar age already live. We believe strongly that this model will achieve the best balance between continued independence and a sense of community. We have identified a number of sites where vibrant, active senior communities could be created.