ANALYSIS: Due to the ever-increasing build rate, the operators’ overall portfolio of retirement villages was not of a vintage that generated positive free cashflow.
So, 2023 has been a pivotal year for the New Zealand listed retirement sector, but not in a share price sense. The share price damage was largely done in 2022 as the sector experienced a broad de-rating as the short-term effects of falling house prices affected investor sentiment. The key pivot
