SUCCESS MODELS OF RESIDENTIAL REAL ESTATE BUSINESSES FOR AN AGING SOCIETY

Abstract

The rising trend in the elderly population, combined with the intention of residential project developers to avoid intense market competition, has led to a targeted focus on housing projects specifically for older adults. Due to various physical changes associated with aging, modifying residences to better suit their needs is essential. This represents a challenge for developers to invest in elderly-friendly housing projects that enhance their quality of life through appropriate design, environments, facilities, and supportive services. The results aim to explore the success model for residential real estate businesses tailored to an aging society. It reviews relevant literature to develop comprehensive indicators for successful elderly housing models. The results finds that four main components contribute to success 1. Universal design 2. Services and facilities 3. Location 4. Financial Aspects and Ownership Models.