Hong Kong’s ageing population time bomb to leave a shortage of 60,000 residences for the elderly by 2032: JLL
- Kwun Tong, Yuen Long, Sha Tin and Eastern district are among the areas in Hong Kong with the most serious ageing problem, according to JLL
- Hong Kong needs to create enough accommodation for the elderly to defuse the ‘huge social problem’, says JLL’s Wendy Chan
Hong Kong will face a shortage of over 60,000 residences for the elderly by 2032 as the city’s population rapidly ages, before eventually becoming the world’s oldest society by 2050, according to JLL.
The city’s Kwun Tong, Yuen Long, Sha Tin and Eastern district are among the areas with the most serious ageing problem, the property consultancy said in a report on Tuesday. In Kwun Tong, only one in 41 elderly people will find a place in elderly homes, it added.
“The ageing population is a time bomb for Hong Kong as the city will have the highest global share of people aged 60 or above by 2050 at over 40 per cent of the population,” said Wendy Chan, the Greater Bay Area director for value and risk advisory at JLL.
It is imperative that the city create enough accommodation for the elderly to defuse the “huge social problem”, she added.
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Hong Kong’s population is expected to age rapidly, with the number of people aged 65 and over projected to nearly double from 1.32 million (18.4 per cent of the total population) in 2019 to 2.52 million (33.3 per cent) in 2039, according to projections by the Census and Statistics Department. In 2069, it will reach 2.58 million (38.4 per cent)
However, forecasts from the United Nations show that Hong Kong will have the world’s oldest population by 2050, with 40.6 per cent of its population aged 65 and older.
