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  • Why NZ?

    Hi all,

    Just wondering why each one of you decided to look into NZ for property investment? And how did you find out about NZ as an investment destination?

    Best Regards

    Marc
    Free business resources - www.BusinessBlogsHub.com

  • #2
    I got interested a few months ago. I saw a few posts going around and got interested with some of the perks of investing in NZ. Since then I have done much research and still think it is good for the way I want to invest.

    I am selling up now and will invest my money over there. I will rent back here.

    Is anyone else doing similar?

    Nu Gen

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    • #3
      Hey Nu_Gen,

      were do you live?

      NZ is a great place with great people and still has cheapo property and does not have stamp duty or cap tax. I found out about NZ through a mate who lives there.

      larry

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      • #4
        I live in New Zealand, so to me it made sense to invest in my own back yard.

        I manage all my own properties, which saves quite a bit of money over time, which I would not be able to do if I lived far from the properties. It never even occurred to me to invest somewhere else.

        I purchased my first property when I was 22 in South Auckland, and I still own that property today.

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        • #5
          I grew up in NZ but now live in London. I invest in both.

          I chose to invest in NZ because:

          1. I know it (my flats are 10 mins walk from where I used to live as a student)
          2. I have credit history there
          3. It is a much "nicer" market than London, which can be a bit aggressive. I hope this does not change although it seems it may be.
          4. It is easy to do business - in terms of bureaucracy etc.
          5. No stamp duty or CGT and income tax is fair.
          6. It gives me income when I am there
          7. It is potentially a way to support other family members there.
          8. From a UK point of view entry costs are much lower.

          The disadvantages:

          1. Weakness of currency - if I work really hard and build up enough passive income to live on in NZ it will not do me much good in any other country.
          2. Distance - can only physically view properties or go to banks once a year or so. Not such a problem for viewing properties as I can pay people to do that, but more a problem with contacting banks ("please go into your nearest branch or call us on 0800...") - 0800 numbers don't work from overseas.
          3. Time zone - with daylight saving I often can't ring NZ until after 10pm. Then if I am waiting for someone to email or fax me back I end up waking up in the middle of the night to see if its come yet.
          4. Harder to keep an eye on how the market changes as I no longer live there. I thought Whangaparoa was a sleepy town full of dope smokers but apparently it is now a very expensive new city.

          My 2 cents,
          Leanne

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          • #6
            Very interesting comments LeanneS,

            Thanks for the post.

            Best Regards

            Marc
            Free business resources - www.BusinessBlogsHub.com

            Comment


            • #7
              Larry

              I live on the Central Coast of NSW. Have you purchased any over there yet and have any stories? If not are you planning to?

              Nu Gen

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              • #8
                Hi Nu_Gen,

                Not yet but looking hard right now - I don't want to miss out -- already some places in NZ are out - too much $$$

                larry

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