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  • Profile photo of Mr_SydneyMr_Sydney
    Member
    @mr_sydney
    Join Date: 2003
    Post Count: 2
    January 27, 2004 - 2:43 am

    I replied to the advert, and met the Aussie agent for this development. He was very enthusiastic about it..surprise surprise! Completion is in July 2007, and prices are from NZ$250K-$300K (The Kiwi $ is about 90cents) His children, lawyer, accountant etc are all buying. It is smack bang in the centre of Auckland, right next door to a Uni, where current rents are about $500pw – this virtually falls within the 11 second rule. (They are NOT serviced apartments).They don’t even require any money down – they will pay the $1000 deposit bond costs for you. All the figures stack up – AT THE MOMENT!!! The situation at completion is the only concern, mainly with the rental markets – $450-$500 pw seems a lot of money for an apartment. I’m still in two minds.

    Profile photo of Mr_SydneyMr_Sydney
    Member
    @mr_sydney
    Join Date: 2003
    Post Count: 2
    October 14, 2003 - 5:20 am

    Hi all
    How does an aussie go about getting finance for a NZ property? Any recommendations? I heard that you can’t get more than 80% finance.

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