OverseasInvestment: Irish investment firm Augusta is to to buy two nursing homes in Germany for €15 million. One of the homes is in Berlin and the other is on the outskirts of Hanover.
Earlier this year, it also purchased a nursing home in Berlin for €8.5 million.
Augusta says that while Ireland has the youngest population in the EU with over 40 per cent under the age of 25, the average age in Germany is 42.6 years compared to 35 for the rest of Europe.
Augusta says that not only is one quarter of the German population already over 60 but this trend is set to continue.
By 2020 the average age would increase to 55, more than 12 years above the European average at that time.
In financial terms, Augusta says this demographic shift will see an increased demand for nursing homes and retirement villages as Germany starts spending its "grey euro".
