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Portugal’s potential BUSINESS


28 | 55+ OUTLOOK WORDS |Margaret Wylde


In the next stop on her tour of the main European retirement and senior living markets, OPP’s 55+ columnist Margaret Wylde has been taking a look at Portugal. Despite its economic troubles, this is a country with plenty of potential she says.


P


ortugal, situated on the Iberian Peninsula and the westernmost country in Europe, has been


cited as one of the best places in the world to retire. Declining prices, refl ecting fallout from the economic downturn, have prompted an increase in international visitors to Portugal.


Demographics With the country’s 55+ population projected to grow by 22 percent by 2025, after which it will account for 41 percent of the country’s total population, housing demands are likely to change. Overall, Portugal’s total population


is projected to decline slightly (0.47 percent) -- to 11,145,127 -- by 2025 ... see Exhibit 1 below.


Contributing to the population shift is an increase in life expectancy, which is among the highest in the world.


Portugal currently achieves a life


expectancy rate of just under 77 years for males and nearly 83 years for females (See Exhibit 2 below). Future projections predicts that the


average life expectancy will increase by an additional 10 years for men at age 75 and by an additional 12 years


“Declining prices have prompted an increase in


out of 225 countries tracked by the Central Intelligence Agency.


Income


Since 2000, the median income of those in Portugal’s 65+ age group has increased by approximately 6 percent relative to the median income of those under age 65 in Portugal ... see Exhibit 4 opposite.


international visitors to Portugal”


for women at age 75. The difference in life expectancy for


males compared to females widened from 92.6 percent at birth to 91.3 percent at age 75.


Gross Domestic Product per Capita The gross domestic product per person in Portugal is €17,576, which is 58th


Exhibit 1: Projected Total Population of Portugal By Age Groups Among 55+ in 2011 and 2025


Percent of Total Population and Percent Growth of Each Age Group Age Group 2011


Total Population 11,197,623 Total 55+ Age 55-59 Age 60-64 Age 65-69 Age70-74


3,754,344 678,610 623,585 533,853 484,996


Age 75-79


Age 80-84 Age 85+


417,380


289,581 218,379


Percent of Total


/


33.53% 6.06% 5.57% 4.77% 4.33%


3.73%


2.59% 1.95%


Per- 2025 11,145,127


cent of Total


/


4,593,736 41.22% 771,020 751,352 669,045 584,913


6.92% 6.74% 6.00% 5.25%


479,020


335,021 334,172


4.30%


3.01% 3.00%


Projected Percent Change 2011 to 2025


-0.47% 22.36% 13.62% 20.49% 25.32% 20.60%


14.77%


15.69% 53.02%


Source: United Nations, Department of Economic and Social Aff airs


Properties to Entice the 55+ Market Several developers operating in Portugal today already offer resort properties with residential designs and amenities that are enticing to the 55+ market.


The resort properties in question are


located on or affi liated to local golf courses, and they typically offer club and/or dining options. Many properties are inspired by


traditional architecture of the region and emphasize their connections with local communities, transportation, restaurants and shops and proximity to the sea. These communities include villas,


apartments and town houses for sale and for rent ... with master suites on the ground fl oor and amenities such as


If you are interested in a country or are a developer of 50+ housing who wants to be included in an article about a specifi c country, please contact us via: Mark Jeff ery at mjeff ery@promatura.com


golf, water sports, tennis, horseback riding and beach access. Here are some of the key players:


The Pelican Group The Pelican Group, for example, features town houses of approximately 63m2 (678 square feet) with bedrooms and bathrooms fi tted on the ground fl oor, as well as a range of studio apartments of approximately 42m2 (451 square feet), all located in a landscaped golf resort setting on the Lisbon coast. The same developer offers 204


larger luxury villas and 265 resort residences for sale and for rent on the Lisbon coast, available in mid-2012. One of the Pelican Group’s planned properties is a “countryside resort” near Lisbon featuring villas and apartments with a private river beach and boat access, as well as an


Exhibit 2. Life Expectancy at Birth and at Age 75 for Males and Females in Portugal


100


10 20 30 40 50 60 70 80 90


0


Life Expectancy at Birth


Life Expectancy at 75


Source: European Commissions: EUROSTAT


Female Male


82.8 76.7 86.9 95.2


www.opp.org.uk |MAY 2012


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