Singapore has overtaken Japan as the fourth-largest foreign investor in New Zealand, according to figures from Statistics New Zealand which show total foreign direct investment from Southeast Asia hit NZ$4.4 billion (S$4.58 billion) in the year to end of March, up from NZ$2.8 billion (S$2.9 billion) a year before.
Most of the reported rise reflected greater investment from Singapore.
Rob Young, Sales Director for Conrad Properties Group, said: “According to the Real Estate Institute of New Zealand, the Auckland median dwelling price has increased a remarkable 103 percent over the last ten years, and is predicted to continue."
"We have waited some four years for the New Zealand property market to strengthen. So far this year we have rolled out two new residential projects off plan in prime central city sought after locations. The first launch of Urba was 85 percent sold out within 12 weeks, the second Queens Residences which launched early August has met with similar success."
"There has been tremendous interest and sales to local and offshore Asian investors who are attracted to New Zealand because it offers a transparent and stable business environment and positive outlook with its consistent economic growth, strong currency, and population growth."
He added that his company will be launching its third residential project in New Zealand and Asia during October.
Conrad Properties, the largest apartment developer in New Zealand, is an Australasian real estate development and investment company. Established in 1994, it has completed in excess of 3,500 residential and commercial units. Conrad Properties is headquartered in Sydney, Australia, and also has an office in Auckland, New Zealand.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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