PULL FACTORS TO FINNISH SENIOR HOUSES

Tanja Tyvimaa and Karen M. Gibler

ERES from European Real Estate Society (ERES)

Abstract: The population is aging in Finland as in other Western countries. While most elderly residents prefer to age in place, some relocate because of push factors that create stress in their current homes and pull factors that attract them to a new dwelling. In last ten years, independent living facilities (senior houses) were developed in Finland as a housing option for seniors. This study examines the important pull factors for seniors who have relocated to a senior house. The analysis is based on survey data collected from residents living in three kinds of senior houses. Overall, grocery shop nearby is the strongest pull factor followed by hospital nearby and access to public transportation. Factor analysis reveals property and neighborhood attributes can be grouped into three factors: onsite services that allow the residents to maintain an active lifestyle with some luxury, everyday services and facilities that would enable aging in place, and physical activity facilities. Activities and onsite services are more important to residents in locations that offer services. Residents have found the type of senior house that supports their lifestyle. Meanwhile, socioeconomic characteristics do not explain differences in what features attract residents. These findings are similar to studies in other countries; seniors look for retirement housing that allows them to maintain their lifestyle and demographic-based segmentation does not offer the best solution for estimating demand for senior housing or marketing units to prospective residents.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2010_293

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