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...

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