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Mortgages in New Zealand

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New Zealand Property

 

 

The New Zealand property market is currently one of the most stable in the world and looks to be a very good long term investment opportunity. With a modern economy and banking system, some of the most spectacular scenery in the world and one of the cleanest environments, the island nation offers quite a lot for the overseas buyer.

 

According to statistics from the Real Estate Institute of New Zealand, (http://www.reinz.org.nz/), property values in the country increased by approximately 10% last year. As growth rates have been very strong over the past few years, many analysts have predicted a slowdown in the rate of increases in the next couple of years. This a good sign for those who are looking for a long term overseas investment, as prices will be a bit more affordable in the short term. 

 

For some areas, though, there will continue to be spectacular growth, according to real estate agent Graham Wall. “Every single piece of coastline and harbourside in New Zealand is massively undervalued,” he noted in a recent interview with the New Zealand Herald newspaper (www.nzherald.co.nz).

 

The recent growth in the value of properties, while good for owners and investors, has been particularly profitable for those with rental property. There is a strong demand for rental property, particularly in and around the cities of Auckland and Wellington. There is also plenty of older housing stock that can be purchased at a low price and renovated, either for rental use or to resell for a profit. There is a high level of inward migration to New Zealand, so the demand for housing is fairly constant.

 

New Zealand’s laws make it particularly attractive for those looking at an overseas investment. Ownership of property is very transparent, meaning you won’t be surprised by hidden claims or law suits after you buy. There are no stamp duties for real estate, no capital gains taxes and no land taxes, so it is easy to buy and, in the long run, it is a very attractive market.

Homes Go Fast