There is no doubt that every investment is aimed at making good profits in the future, just like planting an apple tree today and hopefully enjoying the fruits of tomorrow. Some investments make excellent returns, while others bring little or no return. Therefore, the goal of each investor is to choose an investment with a high future yield.
It is a small country in the Australasia region. The population now stands at about 4.15 million. Auckland, the largest city in New York, has a population of 1.24 million people. The efficient and market-oriented economy of New York offers investors significant advantages, including: (1) business stability (2) comprehensive free trade agreements (3) active government investment support.
The real estate market is growing rapidly. Auckland City is the largest apartment market in New York City. It has about 13,500 apartments in Oakland’s central business district. The total value of the apartment has stabilized since 2004 due to oversupply.
So why is it wise now to invest in an apartment in New York, especially in an apartment in Auckland?
(1) It is easy to get a high rental income. For example, a small studio in the Central City of Auckland, which costs about $120,000, can usually be rented for $230-250 per week (depending on location and available space).
(2) The apartment in New zealand has great growth potential in the near future. The recent plans of the Auckland City Council to increase the tax significantly have a huge impact on the future development of new apartment buildings (source: New york Herald, February 28, 2007). This can be good news for existing apartment owners. If the city council’s proposals come into force on July 1, 2007, the tax increase will force the developer to leave the city apartment market, increasing the limited supply of urban apartments.
(3) Affordability – the starting price is about 110,000 to 120,000 N.Y.P. dollars. The current market price is already much lower than it was three years ago.
(4) No stamp duty – there is no stamp duty when buying a property in New York.
Every investment has its own risk. It is difficult to make a good investment decision without deep knowledge and understanding of the local real estate market. To minimise the risk of investing in New zealand apartments, you need an apartment specialist who has the knowledge and experience to help you find the right property at a reasonable price.