Auckland is New Zealand’s largest city and New Zealand’s most popular region for property development. After such huge losses in the property market, many people wonder why they would want to invest in rental properties in Auckland.
The last four years have seen some interesting changes in property values in New Zealand. We’ve had a huge housing bubble that inflated past the point of no return until it burst: developers across the country chose to sell when prices rose to irresistibly high amounts, and a recession that saw interest in the market plummet. real estate almost came to a standstill. -still with overwhelming fear holding back potential buyers. The recession had created a perfect opportunity for people interested in getting into the rental property game and after years of not being viable for new investors, Auckland is emerging as a potential area to buy in the rental property market. .
After a deflation in property purchase prices, history has shown that a rapid recovery usually occurs. Waiting too long to buy in the market can mean you’ll miss out entirely. With interest rates and sales not rising yet, buying rental property in Auckland now is a great time.
Finding the right investment can sometimes be overwhelming, but looking at a few key factors can often make the process much easier. Who do you go to rent your property? People rent for many reasons; Are you targeting students or business people looking for an easier commute? Where are you looking to buy a property? Workers will have more money to spend, but they’ll want something recently renovated, a bigger space, a more central location. Students will pay less rent, but you can still get a great return on them since they won’t be looking to live in more luxurious housing. Finding a place near a university can also ensure that your Auckland rental properties are in demand.
If you’re just looking to get your first rental property in Auckland, make sure you take the time to consider everything about your investment. Spending a little more for a prime location will pay off in the long run with less risk of decline in value and the security of having someone always looking to rent to you. Be sure to seek expert advice before purchasing a property, as this will help ensure that your rental business is a good investment.