Senior Living: strategic opportunity to provide housing solutions for the senior generation

The accelerated aging of the population and the evolution of lifestyles are redefining the priorities of the real estate sector. The sector is moving in a new scenario with an unprecedented strategic opportunity: designing and developing housing solutions adapted to the needs of a senior generation that is increasingly numerous, active, and demanding.

The senior living model is positioned as a direct response to this new reality, offering accessible homes, flexible services, and spaces that promote an active and social life. For those who live alone, it represents an alternative that improves their quality of life without giving up independence. However, the supply in Spain is limited, fragmented, and still incipient.

Spain, at the epicenter of the transformation

With one of the highest life expectancies in the world, at 84 years, and more than 8.6 million people in the 65 to 84-year-old range, Spain is a key market for this type of development. This demographic evolution not only requires adapting the existing housing stock but also anticipating new ways of living that integrate well-being, community, and autonomy.

The group of people over 65 is an expanding demographic. They currently represent 18% of the population, but according to forecasts, this number could grow by 51% in the next thirty years, representing a population of over 13 million people.

The demand: an active, autonomous, and expanding senior public

   
• A profile that redefines aging: Far from traditional stereotypes, people over 65 today are characterized by good health, independence, free time, and a solid economic base.
   
• Economic capacity and wealth: The senior public is not only growing in number but also in purchasing power. In 2024, the median net income per person over 65 reached €20,055, 34% more than in 2019. This figure places seniors above younger groups in terms of personal income and 4% above the national average. They have increasing financial stability, driven by a robust public pension system and a low level of debt (89% living in their own property).
   
• Loneliness and autonomy: More than 2 million people over 65 live alone in Spain, representing 20% of the total. Likewise, 40% of people over 65 are widowed, single, or divorced, which reinforces the need for residential environments that combine privacy with real opportunities for socialization and community life.
   
• Foreign seniors: Between 2019 and 2024, the foreign senior population residing in Spain grew by 46%, exceeding 510,000 people. This segment, led by citizens from the United Kingdom and Germany, chooses Spain for its climate, safety, healthcare system, and quality of life, with almost half of them concentrated in Alicante, Málaga, Madrid, and Barcelona.

The supply: limited, fragmented, and with high development potential

Despite sustained demand growth, the supply of senior living solutions in Spain remains scarce and not very diversified. The number of operational assets is still low, with a 65% concentration in urban areas and 88% of projects classified as being of medium quality.

   
• New developments and investment in a market yet to mature: Málaga and the Costa del Sol are the main development hubs. The dynamism of this area anticipates similar growth in other coastal areas such as the Valencian Community and the Balearic Islands, where the international appeal and quality of life reinforce the potential for expansion. Since 2021, the sector has attracted more than 300 million euros in investment, mainly from specialized funds and institutional investors.

This model, which has already proven its effectiveness and sustainability in more mature markets such as the United States, the United Kingdom, France, or Australia, fits naturally into the Spanish context, where demographic, climatic, and cultural conditions make it especially attractive. However, for Spain to become a global benchmark, it will be crucial to overcome structural barriers such as the shortage of specialized operators, the lack of truly adapted products, and a regulatory framework that is still poorly defined, which today limit the scalability and hinder the consolidation of the model.

Download the full analysis:

Email *

Name *

Surname *

Company

I have read and accept CBRE's terms of use and privacy policy. *

address1