As Malaysia’s ageing population expands, retirement living is a market that property developers should look into, said CBRE-WTW managing director Foo Gee Jen.
In 2010, the size of Malaysia’s aged population was 7.4% or 2.1 million people and this is expected to grow to 9.9% or 3.4 million in 2020, and expand further to about 20% in 2040.
“Interestingly, by the year 2020, we are going to have about 3.4 million of ageing population. If we translate that into couples, that would mean we would require around 1.7 million units of retirement homes.
