Bahrain Senior Living Market Size (2024 - 2029)

The Bahrain senior living market is experiencing growth driven by an increasing senior population and life expectancy, alongside a rising old age dependency ratio. Despite the challenges posed by the COVID-19 pandemic, which led to decreased occupancy rates and slowed construction, the market is rebounding with a focus on operational real estate investments and the expansion of rental options. Traditional family-based elderly care is evolving, with senior housing becoming a significant aspect of the residential investment landscape. The preferences of Baby Boomers and Generation X for independence and flexible living are shaping the market, making senior rental housing models more appealing, especially when they offer amenities akin to high-end residential developments.

Market Size of Bahrain Senior Living Industry

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Bahrain Senior Living Market Summary
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

Bahrain Senior Living Market 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.

Bahrain Senior Living Industry Segmentation

Senior living is a concept that refers to a variety of housing and lifestyle options for senior citizens that are adapted to the challenges of aging, such as limited mobility and susceptibility to illness. The report offers a complete analysis of the Bahrain senior living market, including a market overview, market size estimation for key segments and emerging trends by segments, and market dynamics. The report also offers the impact of COVID-19 on the market.

Bahrain senior living market is segmented by city (Manama, Riffa, Muharraq, Hamad Town, and other cities). The report offers market size and forecasts for Bahrain senior living market in value (USD Billion) for all the above segments.

By City
Manama
Riffa
Muharraq
Hamad Town
Other Cities
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Bahrain Senior Living Market Size Summary

The Bahrain senior living market is experiencing growth driven by an increasing senior population, rising life expectancy, and a higher old age dependency ratio. The market, however, faced challenges during the COVID-19 pandemic, which led to decreased occupancy rates and slowed construction activities due to restrictions. Traditionally, senior housing in Bahrain has focused on a sale model with a premium price for communal facilities. The market is now seeing a shift towards rental models, influenced by the preferences of Baby Boomers and Generation X, who value independence and flexible living arrangements. This shift is supported by increased investments in operational real estate, the reopening of marketing suites, and a greater understanding of the senior living proposition among investors and residents. Additionally, there is a growing government focus on social care, which is further propelling market growth.

The senior living market in Bahrain is characterized by a fragmented landscape with high competition among local and small developers. The market is witnessing increased activity through mergers, acquisitions, strategic partnerships, and new project launches to cater to the evolving needs of seniors. Despite the challenges posed by health issues and high medical expenses for older persons, the demand for senior housing is expected to rise, driven by population growth and urbanization. The existing demand-supply gap indicates potential for improvement through senior housing policies and subsidies. As the market continues to expand, new companies and landlords are actively developing housing solutions to capitalize on the growing demand, making the competitive landscape more dynamic.

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Bahrain Senior Living Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Spotlight on Demographics for Senior Living Population

    3. 1.3 Insights into Technological Innovation in the Senior Living Sector

    4. 1.4 Key Factors to consider for Senior living Facility

    5. 1.5 Government Initiative and Policies

    6. 1.6 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By City

      1. 2.1.1 Manama

      2. 2.1.2 Riffa

      3. 2.1.3 Muharraq

      4. 2.1.4 Hamad Town

      5. 2.1.5 Other Cities

Bahrain Senior Living Market Size FAQs

The Bahrain Senior Living Market size is expected to reach USD 169.59 million in 2024 and grow at a CAGR of 7.41% to reach USD 242.50 million by 2029.

In 2024, the Bahrain Senior Living Market size is expected to reach USD 169.59 million.

Bahrain Senior Living Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)