What do aged care facilities do to the area?

Judt visited the in gfs parents in eastern suburbs of Melbourne and I've realized that so many blocks have joined with neighbours and now building huge aged care facilities.

How do people think this affects prices, or capital growth vs areas without aged care facilities?

Any pros and cons?

 

There's tons of them in Adelaide (aging population here ), I think the aging population is the issue rather than the centres themselves.

Areas with the centres are typically quieter neighborhoods and usually have good amenities / facilities. Eg public transport and medical centres which benefit everyone.

 

Great point - forgot to include that. A few of my tenants are nurses or carers in aged or disability centres.

 

To me I see it as same as apartments going up. So the land becomes more valuable.

However there must be a reason they chose to do aged care compared to apartments.

I don't think they sell higher compared to similar apartments.

My only conclusion I can say is that maybe it acts as both a business and property investment if you own it

 

A lot different to apartments since you're not competing with them for sale / lease of your own property. They also don't employ people.

 

Never a problem getting a table at restaurants after about 6.30pm

 

TMNT
You may find this interesting, I did.... cashed up Baby boomers will pave the way for change

Deep-pocketed baby boomers reach for the sky in Australia's inner suburbs of Carlton and Clifton Hill

 

Very interesting. It's an aspect I've never really put too much thought into....

 

Better still - buy one

4500m2 development site (existing nursing home)

 

That would cost a pretty penny, would have to sell the Dart to buy into that.

 

Heard from locals that this site is meant to be developed into aged care village too
2-6 Walter Street, HADFIELD VIC 3046 - Land Development Property For Sale - 2013438190