How suitable are Chinese “migratory bird” destinations for the development of real estate for older people? A case study of Hainan Province

Abstract

China is getting old. According to the United Nations, China’s ageing population is growing faster than almost all other countries in the world in recent history. The increasing older population will need to provide more potential markets to develop real estate aimed at meeting the needs of this group. In this context, the old-age real estate development has emerged with advances in the “migratory bird” tourism.
The main purpose of this dissertation is to use secondary analysis to explore the suitability of real estate development for older people in “migratory bird” destinations in China, focusing on Hainan Province as a single case study. This will be achieved by employing a qualitative approach with the entropy evaluation model to establish a suitability evaluation index system. The characteristics and existing problems of the old-age real estate in Hainan are identified to help with the establishment of the index system. The results of system show that the overall suitability level of old-age real estate development in Hainan Province has been increasing in the recent five years. Accordingly, related factors affecting the suitability results are investigated. Additionally, it identifies the specific potential risks that might limit the further development of old-age real estate. On this basis, it is recommended that government, enterprise as well as consumer could take steps to promote the old-age real estate development in Hainan Province.