Apartment schemes for the retired- which seem the perfect set-up for anyone who wants to retain their independence yet have the safety and peace of mind of an on-call doctor or caretaker - are thin on the ground in Dublin
Several of the existing schemes have waiting lists and retirement apartments for sale rarely linger on the market for very long. Yet there are only about a handful of them around the city.
The reason for this comes down to economics, says Liam Harvey, who is general manager of Marylands retirement complex in Shankill, Co Dublin,
"I imagine that given the price of land and property, if a developer buys a piece of land, why would they limit themselves to retirement apartments when they can build houses or apartments that appeal to a wider clientele?"
The residents of Marylands, which is on the grounds of Beechfield Manor Nursing Home, are aged from 50 to 90.
Residents should be over 50 and be able to live independently says Harvey, because "we provide emergency response rather than on-going care."
Some eventually move on to the nursing home when they need full time medical attention. There are only three couples living in the 38 one and two-bed apartments there.
At over 800 sq ft, the two-bed units are certainly big enough for two people but often these developments are a more attractive option for people on their own, who may have been recently widowed and are trading down.
For those who want to socialise with their neighbours, most schemes have communal gardens, reception rooms and organised sports and activities.
Marylands plans to convert an old house on the grounds into a further 17 one and two-bed units . Apartments come on the market on a sporadic basis. "In the first 12 months I worked here, nothing came up, " says Harvey, " but now there are two for sale and two for rent."
The first apartments sold only 10 years ago, so several if the original residents are still living there.
The reasons for leaving are varied. While some are executor sales, others move on to Beechfield Manor or to another nursing home or to live with relatives.
Investors can buy apartments and rent them out-the going rent is about £650 (€825) per month. Renting can be good option for those who want to try our retirement apartment life for a while to see how they like it. Marylands has a waiting list of people they contact if something becomes available.
Last month a two-bed sold for around £225,000 (€285,750)after being on the market for six weeks.
Most schemes ask that you be at least 50 years old before moving in, but according to Robin Palmer of Gunne Residential, these age-restraints are usually only an indicator.
"Technically under the Constitution , you can't specify an age limit but these apartments are generally geared for the older person, with panic buttons and maybe units to plug in oxygen, so they are really not suitable for younger people.
"The great thing about them is that you can sleep there and then take off in your car or whatever and do what you want during the day. But you also have the security of knowing there are medical staff nearby if anything goes wrong. I know an instance of someone who pulled the red cord in their apartment thinking it was a power shower and before they knew it, there were three fellas on hand."
Because there are people on call in the event of an emergency, service charges tend to be high.
Marylands ask for around £1,700 (€2,159) while Arranmore on Pembroke Road in Dublin 4 charges around £1,800 to £2,000 (€2,286-€2540).
The bungalows in the grounds of Newton Park Courts nursing home in Blackrock have a fee of well over £1,000 (€1,270). Arranmore, a development of 44 one and two-bed units has a 24-hour manager on site who can alert a doctor if anyone falls ill. "It's not really a place for sick people," says Tanya McGilligan of Sherry Fitzgerald," but there is someone on call of you fall or slip in the bath."
