Retirement village registration fees will change on 11 August, Building and Construction Minister Maurice Williamson said today.

'"The annual return fees for all retirement village operators will go down,' Mr Williamson said.

"It's about making sure fees continue to reflect actual administration costs, so the system is fair and efficient."

Mr Williamson said the changes are likely to mean lower overall costs for most retirement villages.

This is the first time the fees have been reviewed since registration was introduced in 2007 to provide better oversight of retirement villages.

There are currently 328 registered retirement villages in New Zealand, providing accommodation to around 30,000 residents.