Luxury Living In Auckland and Places to Look for Properties in Auckland, New Zealand
Situated in the sunny North Island and as the largest city in New Zealand, Auckland is fast becoming a cosmopolitan hub. The city lifestyle has never been better – Auckland has just become New Zealand’s first Super City, injecting more potential for development, as well as the status of a globally recognized city. The Auckland property market has recently seen an investment boom, as a result of the New Zealand currency becoming more favourable.
Auckland is a goldmine of developmental opportunities – the six sub-regions each have their unique features. The Waitakeres, located in the West: Lush, green environments, perfect for those who love nature and the outdoors; the Rodney area, known for its spectacular views and local attractions; Franklin/Papakura for its fertile farmland and thriving agricultural products; Manukau for its cultural diversity, industry-driven economy and its status as the gateway to New Zealand; North Shore, for its splendid coastal, family-friendly location, while suburban Auckland offers a dazzling assortment of convenience: bubbling urban retail precincts, education providers, arts, innovation and the source of public transport.
Auckland properties come in the full spectrum of prices you would expect in any major city. Due to the diversity of the market, it’s never difficult to find one in your budget range. Whether you are searching for residential or commercial ownership/rental, properties should be merited by their age, the convenience of their location (this is entirely dependent on individual needs), and their developmental status. Weighing assets against liabilities, you can assess the investment potential of your property. Take care to ensure that you’re not being swindled by property salesmen – request a full property inspection before making the purchase. A house that has concealed liabilities is not worth your time. Once the condition of the property has been disclosed, one can make a better-informed decision with regards to the overall cost and capital value.
In cases where the location is bang-on but the property itself is dated, some owners choose to renovate and refurbish the interior – sometimes known as ‘real-estate flipping’. For a fraction of the invested cost, the rate of return on these properties will be multiplied by a large margin. Of all the cities in the country, Auckland is the best place to run these projects, as the constant movement of people means that there are always families, students and travellers searching for a new home or looking to open their business.
The property market in Auckland has been tested by the economic downturn of the past few years, but has nevertheless made an impressive comeback. Real estate opportunities exist throughout the Auckland region. The rental market is particularly strong at the moment, with a shortage of supply driving higher rents and buy-to-let behaviour. The opening in the property market bodes well for prospective investors and homeowners considering New Zealand’s role as a key player in the expansion of the Asia-Pacific.