{"id":3656502,"date":"2016-09-22T10:38:59","date_gmt":"2016-09-22T14:38:59","guid":{"rendered":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/?p=3656502"},"modified":"2016-09-22T10:38:59","modified_gmt":"2016-09-22T14:38:59","slug":"this-is-the-worlds-hottest-real-estate-market","status":"publish","type":"post","link":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/this-is-the-worlds-hottest-real-estate-market\/","title":{"rendered":"This Is the World’s Hottest Real Estate Market"},"content":{"rendered":"

\"Huia_Waitakere_City_Auckland_New_Zealand\"<\/a><\/p>\n

You\u2019d be hard-pressed to guess the hottest housing market at the moment. It’s not San Francisco, Miami, or New York but one remote island in New Zealand that calls itself Auckland.<\/p>\n

A new report from <\/span>Christie\u2019s International Real Estate<\/span><\/a> says the city posted a 63 percent growth rate in in the $1 million-plus market over the past year. Property\u2019s are going fast, with average homes on the market lasting fewer than 45 days.<\/span><\/p>\n

There are several reasons for the splurge. Auckland has the <\/span>Waitemata harbor<\/span>, palm trees, powdery beaches, and <\/span>2,003 hours of sun<\/span><\/a>. The jobs are there; this city of 1.4 million people is New Zealand\u2019s \u201cglobal\u201d city on a par with London or New York. It\u2019s bohemian, diverse, and cultural. The economy\u2019s good and real estate’s a bargain. According to <\/span>The Wall Street Journal<\/span><\/a>, a three-bedroom, solar-powered house perched over some almighty cliff costs the same as a loft apartment in San Francisco. Property laws are generous, tax is minor, and New Zealand legally discourages foreign speculation. In short, Christie\u2019s says:<\/span><\/p>\n

A strong economy, magnificent natural beauty, and a friendly image are key selling points for New Zealand\u2019s foreign real estate buyers. Add to that the country\u2019s property laws\u2013\u2013which do not include a stamp duty, capital gains tax, or visa requirements\u2013\u2013and the result is one of the world\u2019s most attractive property markets for overseas buyers.<\/span><\/p><\/blockquote>\n

For\u00a0investors of today, Auckland\u2019s a haven from the stock market unpredictability that\u2019s plaguing Europe and the United States. Others like to spend on property given today’s market uncertainty and China\u2019s recession. In nearby Wellington, 400 miles from Auckland, <\/span>real estate agent Craig Lowe told the WSJ that the market was his strongest in 16 years of selling real estate. \u201cThe psychology of the booming market is so powerful that I don\u2019t think any rhetoric from [policy makers] will make any difference. Everyone sees other people making money,\u201d he said. <\/span><\/p>\n

It’s a small wonder that\u00a0Auckland trounced\u00a0last year’s hottest market,Toronto,\u00a0<\/span>according to Christie\u2019s International Real Estate.<\/span><\/p>\n

This year’s proving better.
\n<\/span><\/p>\n

Image courtesy of Wikimedia<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

You\u2019d be hard-pressed to guess the hottest housing market at the moment. It’s not San Francisco, Miami, or New York but one remote island in New Zealand that calls itself Auckland.<\/p>\n","protected":false},"author":78,"featured_media":3657551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1749,1],"tags":[],"class_list":["post-3656502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hlrn","category-news"],"acf":[],"yoast_head":"\nThis Is the World's Hottest Real Estate Market<\/title>\n<meta name=\"description\" content=\"You\u2019d be hard-pressed to guess the hottest real estate market at the moment. 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