2023 Seniors Housing & Care Investor Survey and Trends Outlook

Occupancy recovery fueled by healthy demand and delayed inventory growth for Seniors Housing

January 24, 2023
  • Brian L. Chandler, MAI, CRE, FRICS
  • Bryan J. Lockard, MRICS
  • Jacob Sandler
  • Amber Schiada
  • Maddie Holmes
  • Kari Beets

Our investor survey indicated that 44% of respondents might increase exposure to seniors housing in the next twelve months and an additional 44% would not change their current exposure, indicating optimism or at least believe in the stability of the sector. Capital markets and interest rates are a major concern over the next 12 months (as indicated by 60% of respondents), and while this uncertainty will lower sales volumes in the short-term the expected revenue growth of the seniors housing sector and anticipated 44% growth of the 75+ population in the next 10 years bodes well for its long-term stability.

Report highlights:
Capital Markets
  • Pricing uncertainties have limited capital markets activity in the second half of 2022 and will continue at least until H1 2023

  • Capitalization rates are increasing as the cost of debt rises

  • Interest in seniors housing still remains strong as investors seek higher yields from alternative asset classes

  • Market fundamentals are recovering with rising occupancy and still limited construction

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