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A FEASIBILITY STUDY OF DEVELOPING A RETIREMENT COMMUNITY PROJECT IN THAILAND |
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| รหัสดีโอไอ | |
| Creator | Yiting Luo |
| Title | A FEASIBILITY STUDY OF DEVELOPING A RETIREMENT COMMUNITY PROJECT IN THAILAND |
| Contributor | Udomsak Seenprachawong |
| Publisher | National Research Council of Thailand |
| Publication Year | 2566 |
| Journal Title | SOCIAL SCIENCE ASIA : Official Journal of National Research Council of Thailand in conjunction with Journal of Social Work |
| Journal Vol. | 9 |
| Journal No. | 1 |
| Page no. | 52-67 |
| Keyword | Financial Feasibility, Retirement Community |
| URL Website | http://e-journal.nrct.go.th/ |
| Website title | e-journal |
| ISSN | 2229-2608 |
| Abstract | Population aging is a global concern as many countries, including Thailand, have already become an aged society. However, most of the real estate developers are still focusing on conventional residential projects which are not suitable for the elderly due to a lack of facilities and services. Currently, the majority of Thai elderly must choose between living under family support or moving into a public-operated retirement community, in which their living condition can hardly be ensured. This study aims to explore the possibility of private sector real estate developers to engage in retirement projects by determining the financial feasibility of a privately-operated retirement project using cost benefit analysis. A market survey and semi-structured interviews were conducted prior to the analysis, while it was found that under the current market demand, a retirement project could generate a positive net at present values. However, the return on investment was lower than for conventional real estate projects. Hence, financial support from the public sector might be required in order to better motivate private developers to engage in retirement projects. |
