Asians turn to New Zealand real estate
August 17, 2011 - New Zealand
New Zealand real estate agents are making trips to South East Asia to take advantage of increasing interest in NZ property from Asian-based investors, especially from South East Asia and China.
New Zealand-based real estate agency Bayleys said there has been a noticeable step up in purchasing activity lately, with a number of large transactions concluded and some larger ones likely to emerge over the coming months.
The agency said there were signs that the New Zealand property market was recovering and there was "serious investment signs out of Asia."
"As a result of this we have decided to make Asia the main focus of our offshore marketing thrust for the remainder of the year, and will be actively presenting properties on behalf of their New Zealand vendors to investors in the region," said Mike Bayley.
Later in the month, a key-client cocktail function will be held in conjunction with Bayleys' international affiliate Cushman & Wakefield in Singapore on August 26, followed by a New Zealand property expo and seminars over the weekend of August 27 and 28.
"While these may be only temporary restrictions in China, New Zealand's appeal as an attractive long-term investment destination is continuing to grow," Bayley said and added that the relationship between the two countries had strengthened on the back of the free trade agreement between them.
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