China’s leading insurers betting big on developing communities tailor-made for older residents
China’s 222 million over-60s potentially provides a massive, largely untapped housing market – but in reality, obstacles abound
On a cold, rainy November day, a group of middle-aged and elderly women huddled in warm residential showrooms in a downtown Beijing office.
The sales manager patiently explained how the floors were slip-proof and how the lamp switches on the wall have been lowered to help older residents.
The women listened carefully. The finer details impressed them.
They were particularly taken with movable coat hangers in the wardrobe, for instance, that enable users to access coats beyond their reach, and the chairs with rollers, that are easy to move.
They were also intrigued by the mobile app, that enables them to call for a care worker, at any time of day or night.
This was no typical tour by a developer, though. The presentation was by China Taiping Insurance Group, one of the country’s largest, which is now planning to a chain of community facilities suited especially to senior living.