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  1. #1

    Default Queenstown and surrounds

    In light of the tourism shutdown what is the probability of price reductions in this part of the country. I am not over familiar with the area but it looks like the last few years new development has been rampant, and speculative.

  2. #2
    Join Date
    Jan 2014
    Posts
    1,045

    Default

    Down, down , down...
    "Remember, people will judge you by your actions,not your intentions.You may have a heart of gold -but so does a hard-boiled egg".

  3. #3

    Default

    I predict people who bought off the plans residential apartments on a lease back to a hotel operator are going to feel very silly, just like every other recession.
    Free online Property Investment Course from iFindProperty, a residential investment property agency.

  4. #4
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    937

    Default

    Quote Originally Posted by Nick G View Post
    I predict people who bought off the plans residential apartments on a lease back to a hotel operator are going to feel very silly, just like every other recession.
    Unless it is one of the 18 hotels used by the government for quarantine ?

  5. #5
    Join Date
    Feb 2015
    Posts
    140

    Default

    The three factors to always look for in a property for sale is "death, destitution and divorce" and there will be plenty of this post Covid-19. Welcome to the new world of poverty and wealth destruction......

  6. #6

    Default

    Most of those hotels are in Auckland City, and I guess Christchurch. We have one across the road, Sofitel, I know another one being used is the pullman near to the old Fonterra HQ and across the road from the University of Auckland.

    I can see them "quarantining" people for prolonged periods outside the "So" with their mates talking to them on the footpath for hours on end, on a daily basis. It's all being taken as a bit of a joke here in the city, really.

    They certainly aren't letting those guys live it rough.

    We aren't even attempting to identify the worst cases, asymptomatic spreaders, in NZ yet. It hasn't even been addressed by the Wellington bobbleheads. That way they don't have to lose their jobs in October.

    Tourism is dead in NZ until we can open our borders, that will only happen when we enforce the quarantine and the virus goes away globally.

    The chances of that happening in the next 3 months? Unless someone in Queenstown can go 3 months+ with little to no income, they will need to sell.

  7. #7

    Default

    I have been considering a retirement destination for a while now, hence my initial enquiry. Like most of us my decision is partially based on price. It is also based on location preference. As I am not over familiar with the deep south I'm interested to hear other opinions on wether they personally could live in the location. From a geographic perspective I am happy to move anywhere in NZ. Obviously this location currently has an economic attraction.
    Last edited by ermat; 12-04-2020 at 09:54 AM.

  8. #8
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    937

    Default

    Quote Originally Posted by ermat View Post
    I have been considering a retirement destination for a while now, hence my initial enquiry. Like most of us my decision is partially based on price. It is also based on location preference. As I am not over familiar with the deep south I'm interested to hear other opinions on wether they personally could live in the location. From a geographic perspective I am happy to move anywhere in NZ. Obviously this location currently has an economic attraction.
    Would you run the property as an investment too ?
    Like buying a hotel and managing it too ?

  9. #9

    Default

    Either way. If the right opportunity came along yes.

    Hotel out of my league, more like 2 dwellings.
    Last edited by ermat; 12-04-2020 at 02:37 PM.

  10. #10
    Join Date
    Feb 2015
    Posts
    415

    Default

    Quote Originally Posted by Beano View Post
    Unless it is one of the 18 hotels used by the government for quarantine ?
    Thousand in the hotel, but they need to meet the requirements of the logistics of things, ( How its layed out for services etc most in Auckland and not queens-town


 

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