Market Size of Bahrain Senior Living Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 169.59 Million |
| Market Size (2029) | USD 242.50 Million |
| CAGR (2024 - 2029) | 7.41 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bahrain Senior Living Market Analysis
The Bahrain Senior Living Market size is estimated at USD 169.59 million in 2024, and is expected to reach USD 242.5 million by 2029, growing at a CAGR of 7.41% during the forecast period (2024-2029).
Bahrain's senior living market is driven by an increase in the senior population and life expectancy and an increase in the old age dependency ratio.
- The COVID-19 pandemic severely impacted the senior living market. Occupancy rates declined in the country and reduced senior housing construction activities due to pandemic restrictions and social distancing protocols. In Bahrain, senior housing has traditionally been focused on the sale model, with a price premium to reflect the added cost of providing communal facilities.
- The market is driven by increasing investment into operational real estate, expansion of rental, operators gaining experience, marketing suites re-opening after lockdowns, greater understanding of the proposition from investors and residents alike, and increased government focus (and spending) on the social care agenda.
- In much of Bahrain, elderly care is traditionally undertaken by younger generations. Multiple generations live together under one roof, with older generations caring for grandchildren, and in turn, children caring for aging parents. There are already various forms of senior housing being developed by domestic and international players. Investors are moving and diversifying across the residential investment space. Investors view senior housing as an extension of the residential investment market with differences around design, tenants, hospitality, and services.
- Today’s Baby Boomers and Generation X will take their preferences and expectations into old age. For a generation used to their independence and with experience of flexible living, senior rental housing models will become a more natural fit. Providing services, amenities and a fit-out more akin to clubs and high-end residential developments will further boost the attractiveness of the tenure to this cohort.
