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Queenstown bucks downward luxury property sale trend

The State of Luxury Real Estate in New Zealand

The luxury real estate market in New Zealand has experienced significant fluctuations in recent years. According to recent data, only 152 properties valued at $5 million dollars or more were sold across the country in 2024. This represents a substantial decrease from previous years, with some regions experiencing a decline in sales.

Auckland: A City in Decline

Auckland, the largest city in New Zealand, has seen a significant drop in luxury sales in 2024. The city’s luxury market has been impacted by various factors, including a decline in demand and a decrease in the number of high-end properties available for sale. In fact, luxury sales in Auckland dropped by 14 percent in 2024, marking a significant decline from previous years.

The Rise of Queenstown and Bay of Plenty as Top End Destinations

In recent years, Queenstown and the Bay of Plenty have emerged as top destinations for the New Zealand residential market. This shift is largely driven by the region’s unique combination of natural beauty, outdoor recreational opportunities, and growing infrastructure. As a result, these regions are attracting a significant share of the country’s top-end buyers.

Key Factors Contributing to the Rise of Queenstown and Bay of Plenty

Several factors are contributing to the rise of Queenstown and Bay of Plenty as top-end destinations:

  • Natural Beauty and Outdoor Recreation: Queenstown is surrounded by the stunning Southern Alps, while the Bay of Plenty boasts a diverse range of landscapes, including beaches, forests, and volcanic landscapes. These natural attractions offer endless opportunities for outdoor recreation, from skiing and hiking to surfing and fishing. Growing Infrastructure: Both Queenstown and Bay of Plenty are investing heavily in infrastructure development, including new roads, airports, and amenities. This is making it easier for buyers to access and enjoy the region’s many attractions. Growing Economy: The regions are experiencing strong economic growth, driven by industries such as tourism, agriculture, and technology. This growth is creating new opportunities for buyers and investors.

    Auckland’s Ultra-Premium Property Market Booms as Luxury Buyers and Investors Flock to the City.

    The Rise of Ultra-Premium Property Sales in Auckland

    Auckland, the largest city in New Zealand, has witnessed a significant increase in ultra-premium property sales in recent times. This trend is expected to continue, driven by a combination of factors that make Auckland an attractive destination for high-net-worth individuals and investors.

    Key Drivers of the Trend

    Several factors contribute to the resurgence of ultra-premium property sales in Auckland. These include:

  • Growing demand for luxury properties: The city’s affluent population is seeking high-end properties that offer luxurious amenities and unparalleled views. Limited supply of ultra-premium properties: The current market has a limited number of ultra-premium properties available, making them highly sought after by buyers. Investment opportunities: Auckland’s strong economy and growing population make it an attractive destination for investors seeking high returns on their investments. * Government policies: The New Zealand government’s policies, such as the introduction of the “New Zealand Superannuation Fund,” have increased the demand for ultra-premium properties. ### Benefits of Ultra-Premium Property Sales**

    • Benefits of Ultra-Premium Property Sales

    The benefits of ultra-premium property sales in Auckland are numerous. These include:

  • Increased property values: The limited supply of ultra-premium properties has driven up property values, making them a lucrative investment opportunity. Tax benefits: Ultra-premium properties can provide tax benefits, such as depreciation and interest deductions, which can help reduce an investor’s tax liability.

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