Senior Condominium Choice for Low-to Mid-Income Future Elderlies: A Case Study of Encouraging Affordable Senior Living in Bangkok, Thailand
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International Real Estate Review
The aim of this study is to examine the factors that influence the senior condominium choices of low-to mid-income future elderlies who range between 50-59 years old in Bangkok, Thailand. As the Thai population ages, policy analysts are deeply concerned with issues related to housing the elderlies. Condominiums are the best living choice for elderlies who need to live in the urban city close to their own home and family. In addition, they encourage the elderly to live in supportive communities and reduce the difficulties of independent living, such as loneliness, isolation, lack of medical facilities and mental health issues. The independent variables of demographic characteristics and the factors associated with senior living choice which are locational attributes, physical and social environments, and safety and security are examined as measures for the relocation of future elderlies to senior condos. In this research work, 348 respondents are instructed to rate 22 statements (on a Likert scale of 1-5) on aspects related to senior living choices. The researcher of this study provides evidence of the characteristics of low-and mid-income future elderlies who intend to move to a senior condo after retirement and their preferences around senior condos. A binary logistic analysis is used to investigate the factors that have impacts on the senior condo choice of low-to mid-income future elderlies. The results indicate that demographics, physical environment, and safety and security influence why low-to mid-income future elderlies choose a senior condo for future residence.
Low-to mid-income future elderlies, Senior condos, Senior living choice, Binary logistic model, Bangkok