Also, in a city known for soaring housing prices, 81.8 percent of local seniors own their own homes, with 7.7 percent having more than one, which can also help support them in their later years if they sell or rent out their property, the researchers said in their recently published Blue Book of Elderly Care as an Industry in Beijing.
By the end of last year, Beijing had 2.2 million residents aged 65 or above, about 10.3 percent of the population. They are expected to double in 2020, official estimates said.
Beijing has anticipated 4 percent of all local seniors, or 160,000, will spend their twilight years in nursing homes by 2020. The majority will be taken care of by their families or community eldercare services.
But the lack of adequate caregiver support and medical services have encouraged many seniors with sufficient economic means to find alternatives to ward-like settings in traditional institutions.
Last year, Qian Liqun, 76, a renowned scholar and professor at Peking University, caused a small stir after he and his wife made the unconventional move of selling their house in western Beijing and moving into an elder-care community. Their 100-square-meter apartment, amenities and services cost 20,000 yuan a month at the tranquil Taikang Community, tucked away in the hills of Beijing's northern suburbs.
Qian said he now can concentrate on writing and reading, without worrying about housework and cooking.
For most well-off residents, being close to medical facilities is a top consideration.
Golden Heights, a high-end retirement community in downtown Beijing, prides itself on having a clinic open to both its residents and their neighbors. Its apartments, including a basic level of care, start at more than 10,000 yuan a month due to its "medical care and nursing" model and prime location.
The Yanda retirement community, where Hu lives, has its own modern, private hospital but charges lower rates mostly because it is outside Beijing's municipal borders.
As healthcare benefits vary between jurisdictions, those who live there but have their official residency in Beijing have to pay out of pocket and get reimbursed later in the capital, which has been a concern for seniors.
Cui, the vice president, said the local governments have been working to solve the problem, which could help lure more seniors to his community from Beijing.
While lower prices mean it takes longer to recoup the total investment, the project is already profitable and the future looks good because of plentiful demand, he said.
