U.S.FTC Guidelines note: we act as an affiliate for several companies that feature on our website. In some cases we may earn a commission from referrals to those companies. For further information please refer to our Privacy and Disclaimer policies which can be found in the "US" tab.
Investment Property New Zealand
If you are interested in building an investment property New Zealand portfolio, New Zealand has a lot to offer investors.
There
is no stamp duty, mortgage stamp duty, tax on capital gains, purchase
tax or land tax, when purchasing investment property New Zealand.*
And at the time of writing, New Zealand's
favourable exchange rate means that you get a lot more for your
investment dollar, when investing in New Zealand. Click here to view our
Currency Calculator.
Depreciation rates are comparatively high in New Zealand, increasing
the tax effectiveness of investment property New Zealand. At the time of
writing, the depreciation rate in New Zealand was four per cent per
annum, from purchase date, regardless of the building's age (please note that the New Zealand Government are looking to change depreciation rules - please check with your accountant before making any investment decisions).
If
you sell your investment property New Zealand, any profit on the
transaction will probably not attract capital gains tax, but you may
need to declare the foreign income. Please consult your tax agent or
investment advisor for clarification.
To increase investment in
New Zealand, the New Zealand Government encourages foreign investment in
real estate, helping to meet the growing population's demand for
property.
To find out more about restrictions and investment laws, click the following link to visit the
New Zealand Overseas Investment Office website.
New Zealanders are keen property investors, and one of the most popular
regions is the Central Otago Lakes region. Queenstown is one of the most
popular locations for both international and local property investors,
and regularly leads the New Zealand
Business and Economic Research Limited's
economic performance ladder. An ever growing population, a strong rental
market, and the region's status as a major tourist destination,
all combine to
make the Central Otago/Lakes region an ideal one for investors.
According
to an article published in the Southland Times in March 2010,
Queenstown's airport was expecting a record 790,000 passengers by the
end of the financial year. International flights would be expanded to 24
flights per week in the coming winter. And investment in the airport is
expected to total $25 million over the next five years, a sure sign
that the region, and Queenstown in particular, will continue to grow.
According to
Statistics New Zealand, the Queenstown Lakes district will have the
highest growth rate in the country by 2031. In February 2010, Statistics
New Zealand issued population projections for the country. For the 25
years from 2006 to 2031, Statistics New Zealand predict that national
population growth will generally slow due to the narrowing gap between
births and deaths. However, Queenstown appears set to buck that trend,
with population expected to increase by 2.2 per cent per year.
Accordingly, Queenstown's 2006 population of 24,100 will increase to
41,700 in 2031.
According to figures from
queenstownproperty.com, the average dwelling sale price in Queenstown
increased from $201,100 in 1999, to $506,500 in 2009, an increase of
151% over the ten year period.
Queenstown property has proven to
be a perfect investment vehicle for many local and international
investors. And it can be profitable for you also.
We have a
strong relationship with Queenstown's premier property sales team, and
would be happy to put you in touch with them. If you would like to find
out more about property investment opportunities in Queenstown, please
complete and submit the following form, and they will be in touch
shortly:
Click on the following link for
investment property New Zealand
statistics from Statistics New Zealand.
And to learn more about Queenstown, have a look at our
Queenstown
page.
* Disclaimer.
The information provided on this site should not
be seen or interpreted as financial advice. Readers should conduct
their own due diligence and consult their own tax advisors and
investment experts before deciding to purchase property in New Zealand.
The taxation and investment laws in the readers own country may impact
on any tax benefit available. The owners of New Zealand Travel Showcase
take no responsibility for any investment decisions made by visitors to
this site, and strongly urge readers to seek independent financial
advice before making any investment decisions.
