The general consensus in the property market pre-pandemic was that retirement living was one of the next biggest things, with growing investment and interest in this burgeoning sector.
It made sense when you considered the lack of provision and the UK’s ageing population, with a growing number of over-65s in the UK. As such, Andrew Fyfe – director of Sovereign Property Partnership, an independent living platform in Scotland – says interest and investment from institutional investors has risen significantly in the past few years.
But has the Covid-19 outbreak put an end to this?
“There were the beginnings of change in the retirement sector in the UK,” Fyfe says. “AXA, Legal & General and Goldman Sachs have all previously announced plans to invest in the retirement sector. The UK had its biggest ever investment year in terms of healthcare property in 2018, the majority of which was investment in care homes.
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