JLL — Perspectives on New Zealand’s Retirement Villages (December 2025 Review)
JLL
Sector evidence
Market research
2026-10-09
Next review not yet scheduled
New Zealand
High confidence
verified
SNZ editorial review
Evidence boundary: Editorial Markdown brief with an August 2026 access label, checked against the matching eighteen-page JLL original hosted by the Retirement Villages Association. The PDF cover says December 2025 and year ending December 2024; the headline totals, occupancy and 2048 shortfall match this brief. The former November 2025 catalogue date and 12th-edition title label are not substantiated by the checked original. The growth comparison starts in 2012, rather than spanning a decade. These corrections do not replace a bundled PDF. Big-six occupancy is not national occupancy, and the 2048 unit shortfall is modelled village-unit demand, not observed shortage or aged-care bed demand.
Short Answer
JLL’s December 2025 market review uses its retirement-village database for the year ending December 2024: 491 villages and 43,598 units.
Key Points
- •The national market comprised 491 retirement villages and 43,598 units at December 2024.
- •The six largest operators averaged 91% occupancy; this is not a national-market occupancy figure.
- •The six largest groups controlled 27,318 units, or 63% of the national unit market, across 44% of villages.
- •Since JLL began publishing the series in 2012, village numbers rose from 343 to 491 and units from 21,815 to 43,598 by December 2024; this comparison spans twelve years.
- •JLL reports national 75+ penetration of 14.7% in 2024, up from 14.0% in 2023.
- •JLL models a 23,241-unit shortfall by 2048 under stated pipeline, stable regional-penetration and 1.3-residents-per-unit assumptions; care suites are excluded.
Full Summary & Notes
JLL’s December 2025 market review uses its retirement-village database for the year ending December 2024: 491 villages and 43,598 units. The six largest groups controlled 27,318 units, or 63% of all units, despite operating 44% of villages. It reports 91% average occupancy across those operators and models a 23,241-unit national shortfall by 2048 under explicit assumptions. This retained editorial brief summarises that report; the report’s publication month, database reference year and August 2026 brief access label are separate dates.
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