The vast majority of older people want to stay living in their own homes because they like the location rather than necessarily the home itself , a major new study has found.
The report also says there is a gap in the housing and support options for older people, between remaining at home and going into a nursing home.
This unfilled gap represents a potential housing market worth up the €25 billion.
It says other housing options, with varying degrees of care built in, will be needed for a growing ageing population.
The report, Housing for Older People – Thinking Ahead, was published on Wednesday by the Housing Agency and Ireland Smart Ageing Exchange.
It says the proportion of the population aged over 65 will increase from the current figure of 13 per cent to 25 per cent by 2046, while the number of over-80s is to increase from 130,000 to 450,000 in the next 30 years.
The study - written by economists Ronan Lyons of Trinity College Dublin and Lorcan Sirr of Dublin Institute of Technology (DIT) - found that 88 per cent of older people (aged 55 and over) are "very happy with their current home", with "safety and security" the most frequent (41 per cent) reason.
It found that 35 per cent of older people in their own home liked living there as it was near shops, 32 per cent liked living there because it was close to work and 19 per cent because of its proximity to family.
Other reasons given included pleasant surroundings, affordability, peace and quiet and the garden.
The findings are based on a literature review, a survey of 554 older people and in-depth explorations of their attitudes and those of stakeholders.
Sheltered accommodation
Asked why they would not like to sell their homes and move to sheltered, independent living facilities, 40 per cent said they would feel less independent, 39 per cent said they were unwilling to sell their home, 28 per cent feared losing access to their community and 26 per cent feared being cut off from family.
Other reasons given were not wanting to live with other old people, a belief that it would make them feel old and a lack of such facilities near where they lived.
The study also found a wealth gap among older people.
Some respondents were wealthy enough to pay for their own care needs privately, while others had such low incomes that they qualified for State supports.
There was also a “squeezed middle” - those who were too poor to pay for their own care and too rich to qualify for State supports.
The study says that housing policy for older people needs to be more imaginative to ensure supports for this “squeezed middle”, with reforms of State supports and a wider range of housing and care options within existing communities.
“This involves both the construction and healthcare industries and is an issue that extends far beyond older people, covering the population at large,” the report says.
