HCMC — Vietnam’s ageing population is creating new demand for senior housing and care services, opening opportunities for real estate developers and investors, according to industry experts.
Data from the National Statistics Office shows that by 2038, one in five Vietnamese will be aged 60 or older. United Nations Fund Population Agency (UNFPA) projects that by 2050, more than one in six people will be over 65. Vietnam is expected to become an aged society in less than two decades.
Despite the demographic shift, eldercare services remain limited. Most care is informal and untrained. UNFPA data indicates that 80% of older people prefer to receive care at home, but fewer than 30% of communes have elderly care clubs, and the country has fewer than 100 eldercare centers. Caregiving is not yet a formally recognised profession.
Senior living options, including housing, resorts, and healthcare-integrated facilities, are still scarce. This contrasts with markets such as Singapore and Japan, where the sector has become a multibillion-dollar industry, while Vietnam currently has only a handful of pilot developments.
Matthew Powell, director of Savills Hanoi, said the market is small but is set to expand as more people reach retirement age. He noted rising interest in wellness and healthcare-integrated housing.
Emily Fell, head of Living Sectors for Asia Pacific at Savills, said Vietnam has significant growth potential but will require a clear development strategy. She said the country will need both the Australian “lifestyle” model for active seniors and the Japanese “care” model for assisted living.
