Why It’s Smart to Invest in Medical Real Estate in Albany
Medical real estate has provided strong and attractive capital returns of 4.5% per annum in Australia. Healthcare remains to be a non-discretionary expense, and it will continue to flourish regardless of the economic conditions.
Australia’s private healthcare sector is currently valued at $25 billion as medical real estate assets. It is expected to rise by at least 63% in the next two decades due to our ageing population. In 2041, people aged 65 and over will account for 18.9% of the country’s overall population.
What does all of this mean?
Today, we’re already seeing an influx of demand in medical clinic real estate countrywide with Albany as one of the front runners. Learn why investors consider this amazing city an ideal location for medical real estate.
Albany’s Medical Real Estate Focuses on Public Health
The city of Albany has its own public healthcare plan for 2018-2022, offering a framework to boost the health and well-being of the community. It addresses the biggest health issues, including poor lifestyle habits and chronic disease. This plan supports Albany’s vision “to be Western Australia’s most sought after and unique regional city to work, live, and visit.”
To make this plan a success, medical real estate focusing on healthcare infrastructures and recreational facilities will be built in the coming years. In fact, the McGowan Government will invest $5 million just to upgrade healthcare staff accommodation in Western Australia.
Limited Options for Hospitals
Did you know that there are only seven hospitals in the region? And with the city’s growth rate of 1.92% over the past decade, the demand will naturally be on an upward trajectory. There will be a focus on medical real estate to provide safe and suitable spaces for patients, much like what is offered at the Great Southern Health Precinct.
Great Southern Population Has a Median Age of 44 Years
According to experts, people over the age of 50 should consider having a routine physical exam at a medical centre every year. With the Great Southern Population’s median age nearing its golden years, there will be a huge need for laboratories and clinics.
All factors considered, Albany shows high potential for medical real estate which investors should be banking on as early as now.
If you want to learn more about our current medical real estate investment opportunities, enquire with us today.
