Australia’s population is ageing at a significant rate – currently 14 per cent of the population are aged over 65, expected to rise to one in five by 2033.
Brisbane and other major centres will soon be faced with fast growing numbers of low income, modest asset seniors with a level of demand that will overwhelm current supply.
According to leading property economists, Macroplan Dimasi, within the Carseldine area 54 per cent - more than half – of local residents in this demographic do not have sufficient income or superannuation to enter traditional retirement living options.
This indicates a significant market opportunity to target renters in this demographic with affordable living options that cater specifically to this growing market.
To cater for this demand, Alceon has released Carseldine Gardens, a $40 million development, consisting of 143 established one and two bedroom villas, located 12.5km north of the Brisbane CBD.
“No other project in the surrounding area is able to offer a proven investment with sub $300,000 entry prices, tenants and an onsite manager already in place, and yields averaging over 6 per cent,” said Andrew Roubicek, Director of Residential at Colliers International who is marketing the project.
“By comparison the median unit price in Carseldine is $403,000 and the rental yield is around 5 per cent. This is also a safe investment option considering the average term of occupancy of the current tenants is 4.5 years and average vacancy rate over the past five years has been below 2 per cent.
“The onsite manager, Liberty Senior Living, has identified a shortage of rental accommodation specifically designed for the older demographic and intend to manage the project with this target market in mind, to ensure the villas continue to enjoy strong returns and low vacancy,” said Mr Roubicek.
Carseldine Gardens is now selling from $272,500 - $337,500 with secure tenants in place.
A sales display is available by appointment, contact 1800 906 402 or visit www.carseldinegardens.com.au