Rer Property Management Note The Influx Of Asian Investors In The Auckland Property Market

A radio advert recently aired in China says the Auckland property scene is ‘an investors’ dream and very affordable’, as reported in the NZ Herald last week. The NZ Herald also reported in the same week that China's biggest bank has begun making inroads into this country's mortgage market. This article went on to say, “Industrial and Commercial Bank of China New Zealand began lending last year and made $11.2 million in home loans in the 12 months to December 31, according to a disclosure statement lodged with the Companies Office. That would fund the purchase of about 19 Auckland houses, based on the median price in the city of $720,000 and borrowers having 20 per cent equity

“New Zealand's total mortgage lending runs to more than $200 billion, according to Reserve Bank figures. While ICBC New Zealand's residential loan book is still just a drop in that bucket, chairman Don Brash said the bank was focused on growth.” As a prominent property management firm in Auckland, RER Property Management note that this trend will make buying property on the Auckland market even more difficult.

Similarly, the Asian radio advert boasting that property investors can get New Zealanders to "go to work for you and give you hundreds of dollars a week" in rent in Auckland's overheated property market isn’t really working in our favour either. The advert, aired amid '60s classic hits on Singaporean radio station 90.5 Gold, sells Auckland as "an investors' dream" with no land tax, stamp duty or capital gains tax.

RER Property Management are here to help with all property matters and are a specialist full service property management team of committed professionals providing a world class service dedicated to the South and East Auckland regions, from Mount Wellington to Drury, Mangere to Buckland’s Beach. They work with both landlords and tenants to develop good, long-term, renting relationships by listening to their client to understand their situation and customise the RER service accordingly, using the latest in Information Technology to market and manage properties 24/7 and are constantly looking at new ways to make clients’ lives easier.

RER Property Management are certainly leaders in the industry, and have achieved an enviable status and reputation by focusing on key investment outcomes to maximise their client’s investment returns/yields, maximise their capital growth, maximise their portfolio growth and maximise their net worth, so for all things property related go to http://www.rer.co.nz .