3 Reasons Why Healthcare Real Estate Will Become Even More Relevant
The current supply and demand for healthcare real estate in Australia do not match with the high demand for top-notch healthcare services, an ageing population, and growth in health-related problems yet limited healthcare facilities.
Deep End Services, a company that conducts real estate research, estimates that there should be roughly one general practitioner for every 1,000 residents. However, several precincts across Australia fall short of fulfilling this criterion. For this reason, investing in medical real estate is now more relevant than ever and will only continue to become more prominent in the future. Here are the reasons why.
Increased Focus on Preventive Care
Australia’s medical expenses are rising. Australians rely significantly on the federal government to pay for healthcare services, and the Department of Treasury projects that federal healthcare spending will more than double in the next thirty years. From about $3,000 per person today, it will reach around $6,600 by 2054.
Ageing Population
Australia is an ageing country. Between 2018 and 2028, the population is projected to grow by 1.5% annually, while the population of people 65 and over is anticipated to grow by 3.1% during the same time frame.
Growing Number of Chronic Illnesses
According to the Australian Bureau of Statistics, approximately 80% of Australians have long-term health concerns of some kind. It’s difficult to imagine that chronic illnesses are so common. So here’s why.
In addition to an ageing population, we are witnessing an improvement in the technology that detects chronic diseases. Additionally, a growing number of individuals within our communities are developing diabetes, cancer, and cardiovascular diseases as a result of sedentary lifestyles and poor food choices.
And while Australia’s healthcare system remains one of the best in the world, there’s still a lot of improvement needed to provide each patient with a proper degree of treatment. Healthcare real estate with top-notch facilities are in high demand, and that need is rising swiftly.
If you would like to learn more about our healthcare real estate opportunities, enquire with us today.
