The macroeconomic factors reshaping retirement

"The last few years, the industry grew too fast," one retirement village board member told BusinessDesk. (Image: Getty)

Fri, 05 Apr 2024

A couple of years ago, you could hardly catch your breath between new retirement village developments. The most heavily represented sector on the New Zealand Stock Exchange (NZX), with six listed entities, was in building mode.But as high interest rates and weak sentiment persist, there is a demonstrable pause.Take the central Wellington site that Ryman bought, just off Adelaide Rd, in 2013. Formerly the site of the Tip Top bread factory, the site has lain undeveloped for more than a decade since it was sold for $6.7 million by Foodstuffs.The p...

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