New research from Savills Retirement Living business in Scotland reveals a cautious approach to retirement living by developers and builders is underpinning the shortage of appropriate homes for the country’s ageing population and says a more collaborative and creative approach involving landowners, planners and developers is needed to cater for this growing target group of home owners.
The research points to a number of challenges facing this market, including relatively high land prices in Scotland compared to other parts of the UK; lower levels of equity available to downsizers to spend on their next home; and an inconsistent approach to planning across Scottish local authorities.
Carole Mackie, heads of Savills Retirement Living business, said: “With a growing older population who have a pressing housing need and equity to invest, not only is there a commercial opportunity, but a corporate responsibility for the planning and development sector to address this important market.”
Source: heraldscotland