Israel’s senior housing revolution: meeting the needs of an aging population

A groundbreaking conference brings together key stakeholders to address the growing demand for senior housing and explore innovative solutions

By LIAD VAKNISH, WALLA/REALESTATE

JANUARY 15, 2025 15:42

Updated: JANUARY 15, 2025 15:45

Senior Housing Conference 2025 (photo credit: Liran Levinovitz) — Senior Housing Conference 2025

(photo credit: Liran Levinovitz)

Life expectancy in Israel continues to climb to new heights, with projections showing that by 2045, more than two million senior citizens will be living in Israel. It is expected to reach 88.7 years for men and 94.9 years for women by 2059. However, behind these promising numbers lies a concerning gap: a new study reveals that only 3% of senior citizens currently choose the option of senior housing.

To address this challenge, the first-of-its-kind conference: "Passing the Ember from Generation to Generation" was held at the initiative of the Real Estate Media CEO Club in cooperation with Leumi Mortgage. Taking place on December 25 at the Zionist America House in Tel Aviv, the conference brought together ministers, mayors, and senior executives from the real estate and finance sectors.

The event, hosted by real estate commentator Ofer Petersburg, featured prominent speakers including Minister of Construction and Housing Yitzhak Goldknopf, Planning Administration Director General Rafi Elmaleh, Givatayim Mayor Ran Konik, and various industry leaders from both the public and private sectors.

Yitzchak Goldknopf Minister in the Prime Minister's Office of Israel (photo credit: Liran Levinovitz)

Petersburg opened the conference by highlighting a crucial issue: "Only 4% of those aged 60 and over in Israel can afford quality assisted living, with the primary barrier being financial. One of our goals at this conference is to promote quality assisted living for the middle class as well, ensuring that quality of life in old age is not exclusively for the wealthy."

Uri Younisi, head of Bank Leumi’s mortgage division, presented a current snapshot of the real estate and mortgage market in Israel. He noted that despite various challenges since 2022, including the Russia-Ukraine war, global interest rate hikes, legal reform, and the Iron Swords War, the market has shown remarkable resilience. "The Israeli real estate market is at a boiling point. This is nothing short of a miracle," Younisi said.

Goldknopf emphasized the government's commitment to addressing the housing needs of seniors across all economic sectors. He outlined current initiatives, including collaboration with the Jewish Agency to build 5,650 housing units, of which 2,000 have already been received. The ministry currently operates 25,000 housing units for the elderly population, including 14,000 assisted living units and 11,000 units from absorption clusters.

Dr. Rina Degani, CEO of Geocartography, presented research findings showing a shortage of 2,300 units in assisted living homes for the middle-class elderly (6th-8th deciles). She noted that Israel currently has about 100 private assisted living homes, 300 nursing homes and supportive housing facilities, and approximately 200 housing clusters, hostels, and geriatric hospitals.

Architect Danit Shenhav discussed the evolution of senior housing concepts, emphasizing the trend toward "diversified housing" that integrates multiple generations and promotes active community engagement. She highlighted the importance of mixed-use spaces that allow seniors to remain connected to urban life while receiving necessary support services.

The conference concluded with an overview by Elmaleh of the planning administration's progress in developing the assisted living sector. He emphasized that every new neighborhood now includes areas designated for senior housing, with 13,000 housing units currently in construction plans.

The event marked a significant step forward in addressing Israel's senior housing challenges, bringing together key stakeholders to develop comprehensive solutions for the country's growing elderly population.