NZ will need 100,000 retirement village units by 2033, says report

NZ will need 100,000 retirement village units by 2033, says report
Most Ryman villages offer care facilities, including the Grace Joel Village in Auckland's St Heliers. (Image: BusinessDesk)
Brent Melville
A new report on New Zealand’s retirement village and aged care sector says NZ needs an extra 61,121 retirement village units within the next 10 years to keep up with the country’s rapidly ageing population.Jones Lang LaSalle’s (JLL) latest retirement village database survey suggests even then, the shortfall is likely to be of the order of 11,608 units, based on the number of builds in the pipeline and historical rate of construction, which has seen an average of 1,854 new units built per year over the past five years.The datab...

More Property

'Take 15% or get nothing' tradies told
Infrastructure

'Take 15% or get nothing' tradies told

The alternative is liquidation and total loss, townhouse developer says.

Maria Slade 12 Jun 2024
Government to ease the way for foreign investment in BTR
Infrastructure

Government to ease the way for foreign investment in BTR

The current overseas investor regime is a stumbling block to more housing, minister says.

Maria Slade 11 Jun 2024
Govt can make a difference in housing
Economy

Dileepa Fonseka: Govt can make a difference in housing

Waiting too long to 'smash urban limits' can have untold consequences.

Dileepa Fonseka 10 Jun 2024