ULI issues call to arms over 'silver economy'

City planners and developers must adapt their plans to take account of the aging of the population in Europe, William Kistler, president of the Urban Land Institute Europe, said during the one-day PropertyNL Forum in Amsterdam on Thursday.

Noting that the average age of residents in Paris is 46-47, Kistler told the audience of Dutch and international property professionals that the population of Europe is aging faster than anywhere else in the world in the 'most dramatic demographic shift in human history'.

Dismissing the phenomenon of the 'retirement village' which emerged in the US during the 1960s and 1970s partly in response to high crime rates in cities, Kistler said that people are living longer now and generally remain healthier and active for longer. As the majority want to stay in lively urban centres, this is leading to different and more varied demands and preferences in terms of the types of homes, retail, work and recreation spaces required.

Looking at the Dutch situation, Wim Derksen said in a filmed contribution that while the population is set to decline, the number of households will actually increase. This will maintain the demand for new housing, but with increased demand for housing geared towards seniors.

Paul Wessels, Research director of PropertyNL and PropertyEU, told the Forum that the requirement for work space is also changing alongside the graying of society, known more positively as the 'silver economy'. An increasing number of people will want to live and work in high-value surroundings in inner city areas. As most of the present office developments are on the periphery of cities, the future supply will not match this demand.