1、UK&European Care Homes 2022SPOTLIGHTSavills ResearchThe Countercyclical Asset Class?Savills Operational Capital MarketsWebsiteSocialKey pointsIn common with many countries around the world,much of Europe has an increasingly ageing population.The private sector makes up 40%,equivalent to 46bn.The res

2、t is in public ownership through governments and local councils.The UK has by far the largest private care home market.The next highest is Germany at 40%.Belgium has by far the most consolidated European market,with a few very big players.Investment in European care homes has seen sustained growth o

3、ver the last five years.45%115bn 82%5bn 25%Old age dependency ratio in Germany by 2032Value of Care Home stock in 2022 Of stock in the UK is held by private ownersInvested in Germany since 2020Of private stock owned by five largest investors in Belgium Key pointsIntroductionCare Homes have proven to

4、 be a countercyclical real estate asset class,performing strongly in economic downturns.Underpinned by compelling supply/demand fundamentals and an ageing population,the European Care Home sector nevertheless has many nuances,and a close understanding of each markets regulation,spending and cultural

5、 approach to care,is key for investors looking to access and achieve success in this sector.Although many elderly care home operators and investors have grown their market share in recent years,European care home markets remain highly fragmented.Consolidation rates-the proportion of the market made

6、up by the top five operators in England,France,Spain and Germany,are between 11%and 13%.Belgium is the most consolidated market with 25%.This presents opportunities for pan-European aggregators.Introduction*refers to England Source Savills using Healthcare Business International,various company webs