Medical Office Space: A Safe Commercial Real Estate Investment
The health industry is one of the most stable ones. Sure, demand for it can fluctuate because of a variety of factors but the truth is that, at some point, everyone needs to see the doctor. Going to the doctor is often an indispensable need, such as the one for eating. Unfortunately, in the U.S., it’s not affordable for everyone, which translates into fewer people seeking treatment and less business for the medical professionals. However, things have been changing for the last decade, and thanks to initiatives such as The Affordable Care Act (ACA), also known as Obamacare, more people are having access to health care and, consequently, the industry, in general, is growing. (Relate topic: medical space for lease)
As it can be inferred, this also means that there is a profitable opportunity for commercial real estate investors. Below, we’ve prepared a list of 3 reasons why to invest in medical office real estate is a good and lucrative idea.
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The impact that baby boomers, the people born between 1946 and 1964, have had in U.S. economy and social structure is undeniable. And that impact is far from over. In fact, it will continue for many years to come. Today, baby boomers are reaching an age when they have a need to see their physicians more often. Baby boomers, a population of about 70 million people, will surely guarantee that the medical industry keeps growing for years to come, which translates into a higher demand for medical office space real estate.
As science has evolved, so have the different practices in the health industry. There are many specialized medical fields that are meant to treat every particular issue. Investing in medical office space real estate poses a great opportunity because of the diversity of professionals that operate from the same building. It is a win-win situation because the services are complementary for patients, which means a steady flow of income for physicians, and landlords also benefit immensely because they are not limited to lease for a certain group of physicians but their options are rather ample.
Health Care Industry is Growing
As it was mentioned above, measures such as the ACA, have allowed a sector of the population that could not afford health care before to be able to do it now. Additionally, people are more aware of the importance of having a healthy lifestyle and the necessity for seeing the doctor or having insurance. Certainly, it is helping the industry to keep growing, and, therefore, increasing the demand for medical office real estate.