An entire New Zealand village is for sale for $1.8 million
November 02, 2018 - Waimate
Looking to purchase something a bit larger than a house? How about an entire village?
Located in the Waitaki Valley, the historic community is near a popular tourist trail and situated on a picturesque lake.
The starting price? A cool $2.8 million NZD (or $1.8 million USD).
The 1930s complex is comprised of a 585 square-meter (6300 square-foot) refurbished main lodge, eight three-bedroom houses, a 190 square-meter cafe/bar and full commercial kitchen. Plenty of vehicles can also be parked in the nine-bay garage.
In addition to the living areas, there is also 14 hectares (or about 34.6 acres) of lakeside land.
Lake Waitaki was sold by the state to a private buyer in 1991 before passing through several hands over the years.
Since the New Zealand government brought in a ban on foreign buyers last week, estate agent Kelli Milmine said it was hard to tell which prospective buyers were domestic and which were international, because foreign buyers had started using New Zealand intermediaries to make enquiries. Some Chinese nationals had expressed interest, she said.
The foreign buyers ban is intended to stop foreigners buying existing residential homes that New Zealanders could otherwise purchase and live in.
Trusts and companies that are registered outside New Zealand or are more than 25% foreign owned will be treated as foreign individuals and prohibited from buying residential property, but can purchase land or non-residential property through the overseas investment office.
Overseas buyers are also allowed to buy residential property if they are resident in New Zealand and intend to live in the property as their main home for 183 days of each year.
blog, Estate of the Day