Would you believe that Auckland saw a 63% growth in million-dollar-plus sales thanks to strong international and local demand? Some real estate analysts say that there is a connection between the growth of Auckland real estate sales and Trump’s victory and Brexit. I think it is more about the booming of the Pacific Rim economy.
Furthermore, let’s not forget other positive aspects like:
- The strong economy of New Zealand;
- New Zealand’s “open door” housing policy;
- Macroeconomic factors in the world’s financial markets;
- The Auckland luxury real estate is a bargain;
- A flood of foreign investment and
- A lack of capital gains taxes have made.
What is sure that in Christie’s International Real Estate Luxury Thermometer Index Rankings Auckland luxury real estate market overtook Toronto (Sydney is #9).
According to the Real Estate Institute of NZ (REINZ), 2016 has been a record-setter for luxury residential property sales volume in Auckland. REINZ classifies “high-end” as NZ$10 million or higher.
This is why I thought to share with you 3 interesting real estate projects not so far away from Auckland:
- Tara Iti Golf Club (the golf course was designed by Tom Doak) and its associated real estate community (Te Arai: 1,365 hectares (3,400 acres) of total land). The finished homes will be ready for early 2017.
- The Jack’s Point golf community in Queenstown will feature over 1300 residential homes. It is a $250 million-plus project.
- Wanaka Golf Club – a new golf resort development now taking shape in Wanaka.
It will be interesting to see the future of these real estate projects. Whether the tough-minded and value oriented Generation X buyer will find any of them attractive for investment or not. In the US, we can already see a trend that they are not so interested in homeownership.
The photo about the golf course was made by Joann Dost.