Sri Lanka’s potential demand for senior living housing

Sri Lanka is a country with a discreetly ageing population because of an increase in life expectancy and a decrease in birth rates. The demographic transition that is taking place is expected to result in the old and young representing a lopsided share of the population.
According to the Department of Census and Statistics (DCS), the elderly population of Sri Lanka makes up 12.4 per cent of the overall population, and this figure will likely grow. The existing working population who follow the trends of nuclear families, independent lifestyle and increased job mobility is aged 35 to 55, and in coming years, will likely generate rising demand for assisted or independent living.

Emerging needs of 
senior population
The fertility rate decline and growth of the elderly population indicate that the trend towards an ageing population will continue. Currently, a large section of the elderly population believes in a united family living in homes that may lack design aspects suitable for their needs. However, members of the independent and affluent working segments of the population are expected to have greater senior housing needs in the future.
Currently, 99 per cent of the elderly population are home based, either living with extended family members or on their own. Only 1 per cent of the elderly population are under the care of a private institution.

Senior living trends
The majority of the senior living houses are run by religious institutions and other charities and are located in various pockets of the country. The trend towards private institutions coming up with assisted living units or independent living homes is relatively new to Sri Lanka. The concept of senior living housing is expected to take a while to gain wide acceptance; however, the current middle-aged working generation will be accustomed to living in an assisted retirement community because they have already been through this process with their parents or grandparents. Therefore, there will be less resistance.

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