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Property Management

Home owners drive apartment boom

Auckland's inner-city apartment rush is being driven mainly by homeowners who are borrowing against family houses to get into the property investment boom, according to one of the largest developers.

Thursday, December 04th 2003

Conrad Properties NZ's general manager, Jens Bol, said demand was far from being supplied, and it was not Asian language students who were the main drivers behind the central city's conversion into a residential area.

Conrad, a Sydney-headquartered company run by former Auckland real estate agent Robert Holden, is building 1200 units in Auckland and has another 1200 planned.

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