2024-01-22 23:00:00
Additional need of around 26,000 beds by 2050. There are particularly many private operators in Styria and Carinthia.
The importance of nursing properties and nursing homes is also constantly increasing in Austria. The international real estate service provider CBRE has surveyed the current situation on the Austrian nursing home market in a report.
Nursing real estate market is a growth market
The demographic development in Austria makes it clear that the nursing property market is a growth market. There are currently 904 nursing homes in Austria with a total of 79,200 beds.
In the south of Austria, in the federal states of Styria and Carinthia, the density of care beds in nursing homes is currently highest at 11.8 beds per 1000 inhabitants (Austria: 8.7 beds per 1000 inhabitants). There are currently 0.83 beds available for each person potentially in need of inpatient care.
However, the current inventory does not cover current or future needs. Due to demographic change, the 75 plus population group in the federal states of Styria and Carinthia will grow by 13 percent by 2030, by 37 percent from 2030 to 2040 and by 17 percent from 2040 to 2050.
Most investment transactions in the nursing home asset class are in southern federal states
The approximately 21,600 care beds in Styria and Carinthia are divided into more than 300 nursing homes. This means that the average number of beds per location is 66 in Carinthia and 70 in Styria. “This rate is below the Austrian average of 86 beds per nursing home. The small structures in Styria and Carinthia allow care close to home,” says Laura Holzheimer, Head of Research CBRE, who and her team are preparing the second edition of the nursing home report has.
Around 58 percent of the nursing homes in Styria and Carinthia are operated by private companies. Compared to other federal states, this is a relatively high proportion of private operators, as the majority of nursing homes in Austria are operated either by the public sector or non-profit organizations.
“Due to this structure, most investment transactions in the nursing home asset class can be found in the southern federal states. Around 78 million euros flowed into nursing homes in Carinthia and Styria in 2023,” says Lukas Schwarz, Head of Investment Properties at CBRE, and emphasizes, that mainly privately operated nursing homes come onto the market as investment products.
The market for care properties will continue to grow in Styria and Carinthia – as throughout Austria. In particular, the growth of the older population group will result in an additional need of around 26,000 beds by 2050 in order to be able to guarantee one-to-one care for those potentially in need of care.
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