Colliers Plan For Older Buyers


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Colliers Plan For Older Buyers

  1. 1. Colliers: Plan for older buyers Colliers: Plan for older buyers Home Help Friday January 15, 2010, 10:24 PM GMT +07:00 E - Paper SMS Print Front Page Newswire Print subscription RSS Search Advance search news business opinion feature travel leisure entertainment auto life tech Job Forum Classifieds Phuket Hotels Koh Samui Hotels Hua Hin Hotels 1 of 8 15/1/10 10:26 pm
  2. 2. Colliers: Plan for older buyers Financial advice Family Self improvement Property Education Horoscope Send suggestions Life » Property PROPERTY Colliers: Plan for older buyers Published: 14/01/2010 at 12:00 AM Newspaper section: Business 2 tweets retweet 1 shares Share Thailand should capitalise on the surge in the elderly population in the coming decade through medical and wellness tourism, special packages for retirees and a clearer property ownership structure. 2 of 8 15/1/10 10:26 pm
  3. 3. Colliers: Plan for older buyers Antony Picon, senior research manager of the property consultant Colliers International Thailand, says concerns over freehold and leasehold ownership for foreigners persist and a more open and clearer structure involving longer lease periods and streamlined inheritance procedures should be set in place. "This will help Thailand make the most of the dramatic population shift in Europe and North America," he said. "It must also be remembered that other countries will provide stiff competition for this burgeoning market." These rivals include Malaysia, the Philippines, Vietnam and Cambodia. The distinction between tourist and resident will become blurred as many retirees are likely to stay in Thailand for the winter and return to their home countries in summer. "Thailand has long been a magnet for retirees and second-home occupiers," Mr Picon said. "The grey baby boomer is rising extraordinarily. Economists have been talking about it for a long time, but finally it is upon us. "The first baby boomers, born after the Second World War, are about to retire and the positive consequences for Thailand could be substantial." The number of people who will be of retirement age over the next two decades is massive. They are American, Japanese, German, Korean, Australian, British, Scandinavian as well as other Europeans. These present strong tourist markets for Thailand. "An amazing 3% of the Scandinavian population visits Thailand every year," he said. About 1 million people there will enter retirement age during the 2010s, over double the number in the previous decade. And that is just a small fraction of the total in Europe and North America. He expects the market to become more sophisticated with retirement home property developers from Europe, North America and Australia providing specialised packages and financing. 3 of 8 15/1/10 10:26 pm
  4. 4. Colliers: Plan for older buyers He believes that as a population grows older, it also grows healthier. Mr Picon denies that old means inactive. "Senior citizens will demand more facilities in the future as they will be more active because of their free time. Activities such as golf and hiking will be partly driven by new retirees and expect concurrent growth in medical and wellness tourism." In 2009, 1.2 million visitors came to Thailand for medical tourism and this is set to swell due to new retirees. They could significantly affect growth and development of resort areas in Pattaya, the Hua Hin corridor, Chiang Mai and Phuket as well as the less well-known areas of Chiang Rai and Hat Yai. A key focus will be on clusters, as retirees care more about who their neighbours are and especially if they can speak their language. Mr Picon expects partially clustered retirement communities in the future with shops, restaurants and community centres catering for language groups. "Some serviced apartments and hotels are likely to offer special packages for those over 60 to capture this growth market," he added. About the author Writer: Kanana Katharangsiporn Position: Business Reporter Keep this article in your social bookmark: Delicious Digg Reddit Stumbleupon Technorati Twitter Republishing permission Print this E-mail this Latest stories in this category: Builders to raise prices 5% in March Colliers: Plan for older buyers KK expects 33% growth in NPA sales Mint to gain from St. Regis Property developers to offer mortgages from 2010 Incentives help double home loans Raimon Land plans large projects for Thai buyers Ayutthaya Builder steps up quality control Buying Land in Thailand? Learn the Legal Process to Buy Full Service Thailand Law office bangkok property 4 of 8 Daily updated -photo + full details 10000 15/1/10 10:26 pm condo house sale rent
  5. 5. Colliers: Plan for older buyers Most Viewed PM: Children must be good people Children are future of the country, especially at a time that the Thai society needs the smart and good people, Prime Minister Abhisit Vejjajiva said on Saturday morning. Forum Tourism what are they thinking? Future of ISSAN When I first come in Pattaya What Happened to Samui?? A DYING VILLAGE ATMOSPHERE, RIGHT IN THE CENTRE OF BANGKOK. Chiang Mai Aussie arrested in Phuket over mat theft (AAP) Real Estate Pattaya 1500+ Properties Listed In Pattaya House - Condo - Land - Sale & Rent House for sale in Bangkok Modern European style build 2001 Near intl.airport and expressways 5 of 8 15/1/10 10:26 pm Holiday Houses Thailand Beautiful holiday houses all over sunny Thailand
  6. 6. Colliers: Plan for older buyers Share your thoughts For more candid, lengthy, conversational and open discussion between one another, use our Forum Report objectionable comments click here. Include: discussion #, commenter name, comment date / time as it looks on the page. Example: discussion 15: 09/01/2009 at 10:00 AM. John smith Discussion 2 : 14/01/2010 at 03:48 PM2 Heard this before years and years ago regarding japanese retirees buying property etc. It failed to materialise then and this article is equally unlikley to be acted upon. Hiking?? seriously who goes hiking here? medical expenses here are very expensive when compared to free healthcare that this mid - upper european level could afford or have for free at home. Medical tourism is an incorrect term. Need I say more? Banker Discussion 1 : 14/01/2010 at 02:45 PM1 What xenophobic Thailand make things easier for FOREIGNERS in Thailand??? is a contradiction Retirees require safe clean and stable environments, that means a police force that is not corrupt and not only looking for tea money plus a Government that does not keep changing visa requirements...basically Thailand can't compete in this Hub Reply Luxury residential resort 6 of 8 15/1/10 Affordable active healthy lifestyle Medical centre, spa, 5 star service 10:26 pm Real Estate Pattaya
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  8. 8. Colliers: Plan for older buyers Valid code (required) Get new code As a courtesy to our readers, please use proper punctuation and correct spelling. Bangkok Post on-line: News | Business | Opinion | Travel | Leisure | Tech | Entertainment | Auto | Life | Teen | Guru Bangkok | Bangkok Post on Twitter | Postbag Services : Article search | News Archives | Job search | Forum | Classified | SMS | E-paper | Print front page | Easy English | Top 9 destinations | Guru Magazine | The Magazine Follow Bangkok Post : Twitter | Facebook | RSS Post Publishing PCL : Corporate info | Subscribe newspaper | Web suggestion | Work with us | Banner advertising | Classified advertising | Contact us © Copyright 1996-2009 The Post Publishing Public Company Limited | Privacy policy | Help | Sitemap | Map | Republishing permission 8 of 8 15/1/10 10:26 pm