‘Retirement village supply shortfall looming’ - The Press
Commercial real estate firm JLL has released its annual Retirement Villages Market Review, and it found there were 41,111 units across 470 villages, housing approximately 53,444 residents in December 2023.
It also showed that 2298 units were completed over the year, above the five-year average growth in units of 1913, and the 10-year average of 1696 units.
While the rate of increase in the 75-plus age bracket population was slowing down, it was still increasing in absolute terms, the report showed.
‘New Zealand will be short nearly 8400 retirement village units by 2033 if the sector does not boost development to keep up with demand’.
As reported by The Press, on 2 September 2024
Retirement village supply shortfall looming - report | The Post (thepress.co.nz)
Read the full JLL report here
