At least five dedicated fund vehicles are now actively acquiring or developing senior care real estate in the Czech Republic. It’s turning what was a niche institutional play three years ago into a fast-forming asset classes.
The shift is confirmed by Savills’ 2026 European OpRE Investor Sentiment Survey: 42% of respondents now target care homes, up from a three-year average of 25%. That 17-percentage-point jump — representing €540 billion in AUM — is the largest of any operational real estate sector surveyed.
The preference for fund vehicles is itself accelerating. Savills’ survey found 23% of European investors now favour fund structures for operational real estate, up from just 8% in 2025. The Czech market mirrors this: all five major domestic players use fund vehicles as their primary delivery mechanism.
“Investment in the senior housing segment in the Czech Republic remains relatively limited for now, but volumes are growing rapidly,” said David Štrouf, Associate Investment Director at Savills.
Senevida is the incumbent heavyweight. Penta Hospitals acquired Alzheimer Home Group in 2018, then closed the purchase of SeneCura from emeis (formerly ORPEA) in April 2025. The two networks were unified under the Senevida brand in October 2025, creating a platform of 54 facilities and roughly 6,000 beds. That appears by far to be the country’s largest operator.
CREDITAS Nemovitostní I entered the sector in August 2025, buying real estate under six specialized Alzheimer Home facilities in Čáslav, Vodňany, Ostrava, Pardubice, Písek, and Zlošín. The 18,000 sqm deal is based on non-profit operators retaining long-term leases who managed more than 600 beds. These tend to be fully booked, its 100% occupancy an illustration of the alarming lack of supply.
Three more funds are scaling fast. Property Fund for Living is building from scratch. It has seven facilities open, two under construction in Nový Jičín and Ostrava and three more in preparation. Long-term, it’s targeting 50 centers and 6,000 beds. ESG SeniorCARE is the only EU fund that both owns and operates its facilities, a vertically integrated model with roughly 1,500 beds targeted by 2027. Then there’s Ambeat Group, founded by ex-PPF veteran Ivo Foltýn, who’s assembling a portfolio through its care fund with a target of 2,500 beds by 2029.
The demand case is not speculative. Czech Ministry of Health data recorded nearly 85,000 Alzheimer’s patients in 2024, a figure projected to exceed 90,000 by 2030. A Boston Consulting Group study cited by Savills estimates the over-65 population will grow by 325,000 by 2035, with the over-80 cohort rising by 380,000 to roughly 835,000. Currently, 26,000 applicants are rejected annually from special-regime homes alone.
Private operators have a structural cost advantage. Market sources put private construction costs at around CZK 1.5 million per bed versus CZK 4–5 million for state-built facilities — a gap wide enough to sustain both investor returns and affordable pricing at CZK 50,000 per month, below the CZK 70,000-plus charged by many public institutions.
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