ODESSA European project (Optimising care DElivery models to Support Ageing-in-place : towards independance, affordability, and financial sustainability)
Duration: 4 years (September 2014-August 2018)
Co-financing by ANR (France), ESRC (UK), NSFC (China)
The ODESSA project is part of the program « European - Chinese call for collaborative research on the Green Economy and Understanding Population Change 2013 ». It aims at bringing knowledge on housing policy in ageing countries (namely France and Britain), to help China prepare its demographic transition. It brings together three main research institutions: Sheffield University (coordinator of the project Karim Hadjiri) in Britain, Dauphine University (LEGOS and LEDA) and Paris 1 Panthéon-Sorbonne University (laboratoire Géographie-Cités) in France, Tsinghua University in China. The laboratory Géographie-Cités is in charge of the Work Package 5 « Financial innovation for the provision of housing and services to achieve aging-in-place » (Leader: Natacha Aveline)
WP 5 explores the financial innovations developed in Europe (France, UK) and in Japan for the provision of housing dedicated to older residents. It aims at diagnosing the efficiency and durability (social, economic) of two main investment channels:
the healthcare REITs channels, which manage portfolios nursing homes and clinics/ private hospitals (Real Estate Investment Trusts REITS/Sociétés d’Investissement Immobilier Cotées-SIIC, Sociétés Civiles de Placement Immobilier-SCPI);
the diverse schemes allowing to release the wealth stored in home equity (viager in France, equity release in Britain), which are also being subject to a process of financialization.
Because financial channels are not being developed in China, WP 5 explores more conventional channels for the provision of senior housing in this country. We study housing projects for the elderly developed by private operators in two cities of 8 million inhabitants with contrasted location: an inland city (Zhenghou) and a coastal city (Han