2017 was easily the busiest for New Zealand hotel industry, with the occupancy rate touching 70 percent. This rate is used by Statistics New Zealand to understand how difficult it is to book a room in the country. But with the America’s Cup scheduled for 2021, there is a growing concern of hotel rooms shortage hitting Auckland very soon, as pointed in a recent report by the global commercial property research institute CBRC.
People think that any building can be turned into Airbnb. However, it is not like that if architects and planners opinions are anything to go by. The plan and design have to be exquisite to prevent complaints from neighbours, comply with the regulations, and maximise the space and number of guests.
While no one knows the authenticity of claims that Chinese buyers are driving up the Auckland housing prices, Chinese builders and financiers are contributing massively to KiwiBuild projects, that’s for sure. This assertion was made by Labour MP Raymond Ho on the sidelines of his office opening in Maungakiekie on August 9.
“For turn-key projects – house and land packages, you pay a deposit upfront and the remainder when the property is complete. It's important to note that you may be able to purchase such a package with as little as 5 percent deposit. And your KiwiSaver first-home withdrawal or KiwiSaver HomeStart grant can make a part or all of your deposit,” informed Nathan Miglani, from Loan Market, while addressing the gathering at a free first-home buying seminar organised by the Christchurch-based social organisation Indian Cultural Group (ICG) on April 10. It was part of a series of informative sessions ICG organises, dealing with issues of health, finances, and women empowerment, explained Sandeep Sachdev, President of ICG.
Christchurch-based social organisation Indian Cultural Group have tied up with Loan Market and organised a free seminar on April 10 titled, Christchurch Indian First Home Buyers Seminar, to help the Indian community understand the new lending policies of various banks in New Zealand.
After Labour's ill-conceived Chinese surname saga, Finance Minister Bill English gave a hint about potential backlash (though, not in so much words) from the Chinese Government after returning from that country recently. But if Singapore example is anything to go by, protecting one's national interests (read - selling milk to China) without upsetting the Chinese Government (read - enforcing a stamp duty on foreigners buying property in Auckland) is certainly feasible.