Target the foreign retiree market, coalition tells property developers

A coalition headed by four foreign chambers of commerce urged property developers to look into investing in developments for the growing “silver market.” The Retirement and Healthcare Coalition, formed by the European, American, Japanese, and Korean chambers of commerce in 2007, said that developers should get behind the idea of offering full-fledged retirement villages so as not to fall behind other countries in the region that have already begun to cater to retirees—many of them from other countries are looking for a retirement home in warmer climes. “The increasing numbers of retirees that are looking for homes outside their own countries are increasing each year. The Philippines must be able to cater to their needs for retirement communities that fit their lifestyle,” Coalition executive director Marc Daubenbuechel said on Tuesday. He said developers should not just sit back and take foreign retirees for granted because by 2030, 25 percent of the world’s population will be comprised of retirees.   Daubenbuechel said property developers are currently content to offer “sleeping quarters” that do not have the leisure, entertainment, health, and wellness of foreign retirees in mind. “There should be a deeper understanding of how the players in the local industry should move forward,” he said.   To assist in the development of the country as a prime retirement destination, the RHC has been holding a series of seminars and forums with key players in the industry. — BM, GMA News