The Bay of Plenty retirement village market continues to see growth, as many older New Zealanders move away from main centres in pursuit of retirement at the beach.
Among those experiencing growth is Papamoa’s Pacific Coast Village, which has passed its 100 villa mark. The $185 million dollar construction project, which employs many local trades, is well underway with a further 70 villas currently under construction. By early 2018 the resort-like community will be more than double in size, accommodating over 350 residents. Once complete, Pacific Coast Village will be one of the largest retirement villages in New Zealand.
Jean and Ross Irvine moved into Pacific Coast Village’s 100th villa. They lived in the Bay for nearly 35 years and didn’t want to retire outside of the area.
“We love how close the village is to the beach and the pool and gym were real draw cards for us. Everything here is of an extremely high standard and we wanted that for ourselves in our later years.”
Graham Wilkinson, Director of Generus Living Group, says Pacific Coast gets a lot of interest from local Bay people like the Irvines as well as people looking to move from other regions.
“We are experiencing unprecedented demand locally as well as nationally – particularly from Auckland – for our high-end retirement villas and the five star facilities on offer.”
NZX-listed retirement village operator Arvida Group chief executive Bill McDonald agrees.
“We certainly see the BOP as the key growth area for retirement in NZ,” McDonald told the Bay of Plenty Times last year. “It’s an area where we have a reasonable focus and we’re certainly pleased to add to our existing footprint in the BOP.”
Last year, Arvida bought two villages in the Bay of Plenty – Bethlehem Views and Copper Crest – for a total of approximately $40 million.
Building consents for retirement villages in the Bay of Plenty region continue to increase year on year.