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.
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Queenstown and surrounds
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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.
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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.
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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, 09:54 AM.
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Originally posted by ermat View PostI 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.
Like buying a hotel and managing it too ?
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The County Hotel is arguably Napier’s most iconic and well-known boutique 5-star accommodation providers and eateries, comprising 18 beautiful appointed and spacious guest rooms and one of the city’s most popular restaurants offering some of the best outdoor alfresco dining options in the city together with charismatic Churchill Bar &
This one they are after 6% net
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Originally posted by ermat View PostIn 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.
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