Are Apartments in Queenstown NZ Worth Investing in?
Apartments in Queenstown NZ: Return on Investment
There are several factors providing a high return on investments in Queenstown apartments. First, the prices in the local market are currently following an upward trend, and are much lower compared other popular tourist destinations in the Southern Hemisphere. They are also one of the best priced when you look across New Zealand.
Next, the economy of Queenstown and its surrounding region is experiencing accelerated growth. The infrastructure is undergoing constant development. The airport has been recently expanded to service more international flights and more and more retail and restaurant chains are opening in the area.
The flow of tourists is regularly increasing which makes investing in apartments in Queenstown NZ even more lucrative. Another superb benefit is that the town is a four-season resort. This means that if you let your apartment, you can expect an inflow of income all year round. The low vacancy rates will certainly contribute to your profitability. In recent years, more and more people have started hiring vacation homes for months at the time, furthering your rate of return.
Apartments in Queenstown NZ: Practical Information
The procedure for purchasing an apartment in Queenstown NZ is quite simple. You can work with local real estate agents who know the town, the surrounding area as well as local lawyers and accountants who can advise you throughout the process.
Finance is readily available, and most lenders are able to offer 50 to 60% loan-to-value ratios. This is a fairly good deal for investment properties. With negotiation, you can get even more finance.
If you live far away, consider one of the numerous Property Management companies such as the friendly team at Staysouth to help watch over your investment. They can generate occupancy and returns as well as all the day to day management of your property. This will take a load off your shoulders and offers a hands-off approach for offshore owers.
Consider starting your search for apartments in Queenstown NZ straight away. There is an array of excellent opportunities waiting to be discovered.