This article has been published by the Singapore-Thai Chamber of Commerce in July 2015.

Helmut Buchberger
ABC Asian Business Consulting Co., Ltd.

For many years real estate developers have focused in Thailand on building villages (housing projects) and condominiums especially in areas like Bangkok, Phuket, Koh Samui and Pattaya resulting in an oversupply in general with many houses or condominiums unsold.

The usual buyers from mostly Western countries and for some time from countries as Russia are fading away, and decline in sales is visible while a recovery is not in sight at least for the time being. Instead of holding on to the “old” concept, hoping that the good old days will come back soon; developers might have to change their attitude, looking for new markets or concepts.

A new Situation!

The world is changing; the world’s population is aging. The people are getting much older than in the past and build up a huge retirement base. The younger generation finds it harder and harder to take care of the old folks (their parents!) and governments are struggling too with the burden of taking care of more and more retired people.

Germany for example has around 7.4 million retired people and many of them need a place to stay but not too many are available. This is not about charity or Government retirement homes; this is about people who have money and could afford to stay in a nice place where someone is taking good care of them but these places are few and ridiculous expensive.

Old People the new Business!

After focusing on retirement homes in various countries and talking to people involved in this kind of business we believe the solution is to build an Elderly Residence however not in Europe but outside.

Years ago elderly people from countries as Germany, Austria and Switzerland went to other European countries but prices are up as well and weather conditions are similar to their home countries.

Retirees are looking now for countries were the weather is pleasant and prices affordable. And governments and the private sectors are supporting this idea as they can save a lot of money too.

Making a Difference!

Different from most retirement homes in western countries the idea is to offer living in a traffic free, village style environment embedded in a landscaped park with many trees, fishing pond, waterfalls, own vegetable garden and so on.

There will be low-rise buildings compromising of apartments of different sizes and villas with a wide range of facilities including mini mart, swimming-pools, gym, craft room, restaurants, cafe bar and pub, library, massage and spa, hair dressing salon and on top a state of the art clinic with integrated pharmacy and inpatient facilities, suitable for handicapped residents.

It’s all about Service!

There will be new examples of achievement for quality standards in living during the cherished third phase of life. The residence needs to offer the highest possible level of service for private residences in an ambiance similar to that of a 5-star hotel resort in a warm and friendly atmosphere where care and attention are the main priorities.

All residents will be members of the “Difference Club” and can chose between different membership levels according to their needs starting from a basic service to a VIP treatment including health checks, cocktail reception, free golf and 24 hours nurse and doctors on standby.

Why Thailand

The kingdom is for quite a long time well-known as investment place and as a travel destination and undoubtedly a safe country. The costs of living are increasing constantly in the Western world, isolation, a rather unpleasant weather situation and above all older people are not very well treated as they would deserve; different from Thailand were older people are respected.

Due the desolate care situation in Europe, many people are forced to find a new living environment. Furthermore typical age-related illnesses such as gout, rheumatism, arthritis, etc. contribute to the fact that older people are leaving Europe and move to warmer countries. This leads to an ever-increasing demand - especially among people from Western countries - to make this suitable and cost-effective place their new home.

Why Eastern Seaboard?

The Eastern Seaboard offers an excellent infrastructure. The proximity to the capital Bangkok, the international airport only 120 km away, and its many sandy beaches on the offshore islands are an advantage as are the various opportunities in the vicinity. The area is also known as a Golfers paradise with more than 20 international golf courses with affordable green fees starting at 20 Euros.

Several big supermarkets are serving the foreign community offering a wide selection of everything Westerners are used too. Big shopping centers, specialized “Western” bakers and butchers as well as numerous restaurants with a variety of dishes from around the world are available in and around the city of Pattaya. There are hospitals of international standard, numerous sport facilities, and of course Pattaya offers also plenty of day-time attractions and an extensive nightlife.

Elderly Residences are the future in Thailand’s Real Estate Business!

Author’s name: Helmut Buchberger
Author’s position: Managing Director
Company: ABC Asian Business Consulting Co., Ltd.
Tel: 0818627936 – 038 252531
Email: helmut@abc-global.com
Website: www.abc-global.com

Mailing address for magazine copies:
352/329 M. 12, Pratamnak Soi 5, Nongprue, Banglamung, Chonburi 20150, Thailand

This article has been published by the German-Thai Chamber of Commerce in their quarterly magazine UPDATE on July 15, 2015

Contributed by Helmut Buchberger, Managing Director, ABC Asian Business Consulting Co., Ltd

ELDERLY RESIDENCES THE FUTURE IN THAILAND’S REAL ESTATE BUSINESS

Contributed by Helmut Buchberger, Managing Director, ABC Asian Business Consulting Co., Ltd

For many years, real estate developers in Thailand have focused on building villages (housing projects) and condominiums – especially in areas such as Bangkok, Phuket, Koh Samui and Pattaya – resulting in an oversupply in general with many houses or condominiums remaining unsold.

The usual buyers have mostly come from Western countries and, more recently, from countries such as the Russian Federation. However, such buyers are fading away, and the decline in sales is noticeable. Meanwhile, a recovery is not in sight, at least in the nearfuture. Instead of holding on to the “old” concept, hoping that the good old days will come back soon, developers might have to change their attitude and look for new markets or concepts.
 

NEW SITUATION

The world is changing; the global population is ageing. People are living much longer than in the past, thus building up a huge retirement base. The younger generation is finding it harder and harder to take care of the old folks (particularly their parents) and successive Governments now have to struggle with the burden of taking care of more and more retirees. Germany, for example, has around 7.4 million retirees and many of them need a place to stay but not too many residences are available. This is not about charity or government retirement homes; this is about people who have money and could afford to stay in a nice place where someone will take good care of them; however, such places are few and ridiculous expensive.

OLD PEOPLE ARE THE NEW BUSINESS

After focusing on retirement homes in various countries and talking to people involved in this type of business, Asian Business Consulting Co., Ltd. believes the solution is to build Elderly Residences, not in Europe but in other countries.

Years ago, elderly people from countries such as Germany, Austria and Switzerland went to other European countries; however, prices are now as high and weather conditions similar to that in their home countries.

Retirees are now looking for countries where the weather is pleasant and prices affordable. Governments and the private sector are supporting this idea as they can save much money too.
 

MAKING A DIFFERENCE

Different from most retirement homes in western countries, the idea is to offer living in a traffic-free, village-style environment, located in a landscaped park with many trees, fish ponds, waterfalls, vegetable gardens and so on.

The buildings would be low-rise, compromising apartments of different sizes as well as villas, with a wide range of facilities including mini-marts, swimming pools, gyms, a craft room, restaurants, cafes, bars and pubs, a library, massage and spa facilities, hair dressing salons, and a stateof- the-art clinic with integrated pharmacy and inpatient facilities suitable for handicapped residents.

IT‘S ALL ABOUT SERVICE

There will be new examples of achievement for quality standards in living during the “third phase” of life. The highest possible level of service for private residences needs to be provided in an ambiance similar to that of a five-star hotel resort in a warm and friendly atmosphere where care and attention are the main priorities.

All residents will be members of the “Difference Club” and can chose between different membership levels according to their needs, starting from a basic service to VIP treatment including health checks, cocktail receptions, free golf, and nurses and doctors on 24-hour standby.

WHY THAILAND

The Kingdom of Thailand has, for quite a long time, been well-known as a good investment location and travel destination, and generally a safe country. The cost of living is increasing constantly in the Western world, while isolation, a rather unpleasant weather situation and, above all, older people not being very well treated; that is a different situation to Thailand where older people are respected.

Due the deteriorating care situation in Europe, many people are being forced to find a new living environment. Furthermore, typical age-related illnesses such as gout, rheumatism, arthritis etc. contribute to the fact that older people are leaving Europe to live in warmer countries. This is leading to an ever-increasing demand – especially among people from Western countries – to make a suitable and cost-effective place such as Thailand their new home.

WHY THE EASTERN SEABOARD?

The Eastern Seaboard offers excellent infrastructure. Its proximity to the capital, Bangkok, with the international airport only 120 km away, and its many sandy beaches of the offshore islands are an advantage, as are the various opportunities in the vicinity.’ The area is also known as a golfers’ paradise with more than 20 international golf links that have affordable green fees starting with the equivalent of Euro 20.

Several big supermarkets are already serving the foreign community in that area, and offer a wide selection of everything Westerners are used to buying. Big shopping centres, specialised “Western” bakers and butchers as well as numerous restaurants with a variety of dishes from around the world are available in and around the city of Pattaya. There are hospitals of international standard, numerous sports facilities and, of course, plenty of daytime attractions and an extensive nightlife available in Pattaya.

Elderly Residences definitely appear to be the future trend for Thailand’s real estate sector!

Contact details:

Helmut Buchberger ABC Asian Business Consulting Co., Ltd
Tel: +66 (0)81-862-7936; +66 (0)38-252-531
E-mail: helmut@abc-global.com
Website: www.abc-global.com