New Zealand investment properties? | FerrariChat

New Zealand investment properties?

Discussion in 'Australia' started by dreams_and_aspirations, Feb 25, 2009.

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  1. dreams_and_aspirations

    dreams_and_aspirations Karting

    Jul 15, 2006
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    #1 dreams_and_aspirations, Feb 25, 2009
    I had a free day while on a business trip to Auckland, and went to look at a few flat's in the business district just to kill the time.
    I was surprised by how inexpensive many places were.

    I was looking to spend around $500k NZD. What is the long term (ten years) investment potential of a 3/2 flat with secure parking in Auckland's business district? Has the financial melt down in the US effected the NZ economy enough where predictions are suspected to be unreliable? Would I be better off trying to find water front property? Is any one aware of any problems with non-nationals purchasing property (extra/high taxation maybe?).

    Any help would be appreciated!

    Scott
     
  2. jeffQV

    jeffQV F1 Rookie

    Feb 13, 2004
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    #2 jeffQV, Feb 25, 2009
    Most people say stay away from Auckland Apartments, heaps of stuff on the Net but basically high Body Corp fee's and Ground Rents that can shoot up really quickly.(plus lots of dodgy construction to boot!)
    If you are into buying here then I would suggest Brick n Tile house on its own dirt. Prices are down but I think about to bottom and rent returns pretty good. No issues with non residents buying here, no stamp duty or capitals gains tax either. PM me if you want more info, this is part of what I do for a living!
     
  3. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #3 PAP 348, Feb 25, 2009
    That just got my attention! :D:D
     
  4. jeffQV

    jeffQV F1 Rookie

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    #4 jeffQV, Feb 25, 2009
    thought it might and we have a National/Conservative government too :)
     
  5. Giles3

    Giles3 Karting

    Sep 17, 2004
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    #5 Giles3, Feb 25, 2009
    Last edited: Feb 25, 2009
  6. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #6 PAP 348, Feb 25, 2009
    Ok, sounds good. I hope the flats are selling for $120K-$150K to get crappy rental return? :D:D
     
  7. Giles3

    Giles3 Karting

    Sep 17, 2004
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    #7 Giles3, Feb 26, 2009

    Haha smart ass :p The rents I quoted was per person, so multiply by number of bedrooms.
     
  8. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #8 PAP 348, Feb 26, 2009
    Sh*t hey!! You just got my attention again! Thanks Matt! :D:D
     
  9. James-NZ

    James-NZ F1 Veteran

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    #9 James-NZ, Feb 26, 2009
    Did I miss the photo of ladies wearing bikinis? ;)
     
  10. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #10 PAP 348, Feb 26, 2009
    You *lost* me there mate! :D:D
     
  11. Modeler

    Modeler F1 Veteran

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    a.n.other
    #11 Modeler, Feb 26, 2009
    We all lost you there mate.
    Swear you were off in that thread for ages. ;)
     
  12. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #12 PAP 348, Feb 26, 2009
    Last edited by a moderator: Sep 7, 2017
  13. James-NZ

    James-NZ F1 Veteran

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    #13 James-NZ, Feb 26, 2009
    I'm *suprised* :rolleyes:

    I thought the only things that get your attention are Ladies wearing next to nothing or Ferrari's, seems I had you picked all wrong. :)

    As for investments in property here, I don't have the experence Jeff has, and his post is exactly my feelings on the topic. But some land, apartments are poorly made and don't have great resale IMO/E.
     
  14. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #14 PAP 348, Feb 26, 2009
    Lol, thanks mate!! :p:p
     
  15. James-NZ

    James-NZ F1 Veteran

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    #15 James-NZ, Feb 26, 2009
    Seems I should proof read my posts....

    That should read "buy some land" not "but some land"

    :eek:
     
  16. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #16 PAP 348, Feb 26, 2009
    Bah! ;);)
     
  17. jeffQV

    jeffQV F1 Rookie

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    #17 jeffQV, Feb 26, 2009
     
  18. Modeler

    Modeler F1 Veteran

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    #18 Modeler, Feb 26, 2009
    Should've proof read my joke too.
    Belly flopped, it seems
     
  19. moretti

    moretti Five Time F1 World Champ
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    #19 moretti, Feb 27, 2009
    fixed

    I think you got it right ;)
     
  20. PAP 348

    PAP 348 Nine Time F1 World Champ
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    #20 PAP 348, Feb 27, 2009
    Lol, you cheeky chop! ;);)
     

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