Healthcare Real estate: The investment opportunity of Senior Living in Italy

Abstract

The analysis of this dissertation regards the investment opportunity that Senior Living will represent in the next decades in Italy. We begin with a demographic analysis of the population, with particular attention to the “baby boomers” cohort in Europe and in Italy, and an overview of the Healthcare real estate market in the UK and the USA. In Chapter 2 we analyze the healthcare real estate market of Italy, with a focus on RSAs and Retirement homes and their profitability. Following the market analysis, we have a case study in Chapter 3 of an investment made by the REAM fund to finance the construction of an RSA. Then we introduce the concept of Senior Living in Chapter 4, its prospects and opportunities in the Italian Real Estate market, with a case study of a first attempted construction by Real Care. Lastly, we conclude the dissertation in Chapter 5 with an overview of the type of the investment, if it’s feasible and its profitability.