The aging of the world's population is well known and documented. The median age is set to rise to 32.1 in 2025 from 29.6 in 2015 according to United Nations projections. Two key factors are behind the increase; falling fertility rates and increased longevity. The fertility rate continues to decline, driven by falls in developing countries as incomes rise, while life expectancy is rising due to improvements in medical technology and healthier lifestyles. Some more outlandish pundits even proclaim that the first person to live to 150 has already been born. It is important to remember that the changes projected vary significantly by country and are often revised. The changes foreseen have big implications for real estate occupier demand and investment strategy, and it is these that we will focus on in this paper.
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