Elderly in Hong Kong looking to China for affordable care in retirement

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After spending time with his 84-year-old mother in a senior care home in the southern Chinese city of Shenzhen, David Lee walked up to the ...

HONG KONG: After spending time with his 84-year-old mother in a senior care home in the southern Chinese city of Shenzhen, David Lee walked up to the supervisor and asked to reserve a place there for his own retirement.

Many then were concerned about cultural differences, medical services and a lack of insurance coverage in the mainland.But faster transport links to the mainland and an integration push by the Hong Kong and Chinese central governments under the Greater Bay Area initiative have helped ease some of those fears.

Baring Private Equity told an industry summit recently that it planned to invest in senior housing in the Greater Bay Area.So far, there are at least five senior homes in Guangdong opened by Hong Kong investors or non-government organisations, providing over 2,000 beds, official data show. Elderly Hong Kongers who cannot afford those rates wait 37 months on average for subsidised senior housing, and the average room is 6.5sqm, compared with 30sqm in the mainland.A view of a mahjong area for elderly recreation in Yee Hong Heights, a senior care home managed by a Hong Kong charitable organisation, in Shenzhen, Guangdong province, China, Jul 16, 2019.

Out of a total of 315 beds, 190 are occupied by Hong Kong people, compared with fewer than 10 when the facility first opened in 2006.

 

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