Whilst later living is set to be the next major UK residential asset class (Property Week, Aug 2019), the asset class is multi-faceted.
Our mid-market later living communities are designed for the mid-market median property wealth and are sustainable to develop and operate.
Knight Frank quantified that around 2.2 million over-65 households live in a property with an average value of up to £250,000. There are around four people wanting to downsize for every existing retirement living home in the UK.
An article, featured in The Guardian yesterday, features some of the best shared ownership properties from around the UK and these include later living shared ownership. As the article highlights, the buyer of a fifth-floor apartment with a large private balcony (market price £300,000) will pay £375 a month rent for the non-owned portion and a £242 service charge. £150,000 (minimum share, 50%).Read full article here: https://www.theguardian.com/money/gallery/2020/feb/21/shares-ownership-homes-in-pictures