Compared with the world’s retirement projects, the Philippines focus its market on real estate.
Philippine developers are not accessing tourism-marketing tools; leaving the only option of purchase, in the majority of projects.
Developers aim for the fastest possible option of re-sale and most opt out of considering partnership to tourism or retirement organizations.
Long-term leases are extremely effective when attracting the senior citizen market who do not wish to be entrenched in the purchase of a property, in a country they are not yet familiar with.
Long-term lease options provide a stepping stone for the inhabitants – offering a sense of home ownership without the ties.
A successful retirement village should provide and maintain an appropriate and attractive place for retirees who hold specific expectation for their new permanent home within specially developed surroundings.
Special services are essential to the convenience of residents. Services such as a central pool, laundry and household services, gardening, and maintenance assistance, a clubhouse, on-site medical facilities, and grocery stores, combine to make convenient living options for the occupants. Moreover, additional services generate further avenues of revenue for the developers and operators.
Developers in this field must consider the design and planning of facilities as different cultures and target groups requirements will vary.
“Sleeping villages” must be avoided, according to Business Mirror. It reported that the aim of retirement projects should be to create an atmospheric atmosphere for the global residents. A sense of community is integral as residents social needs highly require they are embraced within their new environment.
The management of the residence is an important consideration. Effectively managed as a resort hotel and health-care facility as senior citizens consider these services as a necessity. Partnership with local medical services are on-site facilities will particularly appeal to the retirement market.
If you would like to learn more about retirement villages and best practices, the Retirement and Healthcare Coalition/Philippine Retirement Authority invite you to the 2nd Philippine Retirement and Healthcare Summit on June 26th at the Dusit Thani, Manila.
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