This is part two in a three part series on investing in New Zealand real estate. You can read part one here. If you want to learn more, be sure to RSVP NOW for a spot at our free New Zealand Property Seminar being held 19 May in Bangkok.
In the past five years, property prices in New Zealand have increased by more than 72 per cent with the country having recorded the fifth highest property price growth globally in 2016, according to research from Knight Frank Global Cities Report 2017.
While market insiders were abreast of the situation, more casual international investors may not realise the sleepy country known for sheep had morphed into one of the hottest home markets in the world. Things cooled off in 2017, but prices still grew by 13.4 percent. This total was similar to Melbourne and more than Vancouver and Seattle, two of North America’s best performing real estate markets.
Why Auckland real estate?
There are a number of reasons for the rush on Auckland real estate. For investors, in addition to the strong price growth, the city’s rental market has been performing just as well.
According to Global Property Guide, rental growth in Auckland increased by 7.2 percent during the last 12 months. Demand for rental properties isn’t expected to subside anytime soon with an estimated 700 people moving to the city per week.
People are moving to Auckland in part to enjoy the high quality of life found here. The Mercer Quality of Living Survey in 2016 ranked Auckland as having the third best quality of life in the world finishing behind Vienna and Zurich. The report highlighted the city’s well-balanced economy, peaceful environment and high levels of personal safety as being among the best globally.
New Zealand also has one of the world’s best university education systems with leading institutions in Auckland, such as the University of Auckland and Auckland University of Technology, being ranked alongside the world’s best. The city itself is held in high regard among students thanks to a large and diverse community that has created an inclusive and tolerant culture, QS Top Universities noted.
A strong economy, high quality of life and spot as a global education leader will help the Auckland real estate market remain strong moving forward. Those looking to invest can feel comfortable in the fact demand and prices for rentals will at the very least remain steady and has room for further growth.
Exclusive New Zealand Property Seminar
Want to know more about the New Zealand real estate market? A free New Zealand Property Seminar is being held on 19 May at Four Points by Sheraton Sukhumvit. You have an opportunity to learn more about investing in the country with experts on hand to answer all of your questions. Space is limited, so it is important to reserve your spot for this complimentary seminar today.