Magazine article Journal of Property Management

New Found Zeal

Magazine article Journal of Property Management

New Found Zeal

Article excerpt

Demographics, investment driving New Zealand growth

Nestled in the South Pacific and a three-hour flight from Sydney, New Zealand is an investment haven long sought after by knowledgeable offshore investors.

The country comprises two main islands, known as North Island and South Island. The capital city of Wellington is at the southern tip of the North Island and Auckland, with a 1.25 million population, lies some 500 miles to the north. The stunning Waitemata Harbour and the surrounding waterfront is the center of a 24-hour society in Auckland.

Currently, the nation is experiencing vigorous economic growth buoyed by strong international demand for its primary products and a rapid growth in tourism. The Lonely Planet guide recently ranked New Zealand the top tourist destination for 2003.

Since 1976, the property management business has evolved along with changes in Auckland itself. In particular, the trend of residing in the CBD has accelerated dramatically in the last five years and is changing the face of the city. …

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