International scramble for blue-chip property
Monday 26 July 2004
Australian buyers are among those lining up to bid on Friday for a parcel of prime Queenstown commercial property worth an estimated $56 million.
By The LandlordLocations Realty manager Henk Hoogvliet said it was the largest chunk of blue-chip real estate to go on the Queenstown market in the past 15 years.
The eight properties are owned by a group of eight financial investors from Singapore and Malaysia.
Australian interest had come mainly from Perth, Brisbane, Sydney and Melbourne.
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The Government announced its long awaited tenancy law reforms today and they mean that landlords will no longer be able to get rid of tenants without reason.
There’s no sign of a slow-down in Wellington’s property prices with Trade Me Property’s latest data showing that asking prices continue to rise solidly.
LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards.