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  • Writer's pictureReal Estate Today - New Zealand

Research Affirms New Zealand s a Second Home Hotspot


New Zealand is one of the most coveted places in the world for buyers wishing to purchase a second home, says a leading real estate agency.

 

New Zealand Sotheby’s International Realty managing director Mark Harris says the recent independent international study by GetAgent – which puts NZ in second place in the world’s most searched-for second property locations – is reflected in the NZ company’s own data and website search traffic.


 The NZ affiliate of the global real estate brand – which operates in 84 countries –


is experiencing a surge in enquiry from Australia, as well as America, United Kingdom and Asia, despite the NZ Overseas Investment Act prohibiting residential sales to citizens of the latter.


“What we are seeing in our own data is that internationals are looking at NZ more so now than ever before,” he says. “Our website traffic from visitors in Singapore and Indonesia has increased by more than 90% since 2023, and searches from Australia and the US have also increased. It reaffirms to us that NZ certainly is a global hotspot and, anecdotally, what we’re hearing from our agents is that many of these buyers are searching for second homes.


 “Unfortunately, the current rules don’t allow for overseas citizens to purchase residential property in NZ (other than Australians and Singaporeans) but we are hoping that this rule is going to be lifted soon.”


 In the GetAgent study, Ireland topped the list of global second-home location searches, both domestically and internationally, followed by NZ, UK, Equatorial Guinea and Italy.

Harris says Auckland remains a key searched-for second home location for both Kiwis and internationals, as well the lifestyle regions such as the Bay of Islands, Waiheke Island, the Coromandel and the Southern Lakes.


 “There are multiple reasons why we are seeing more Kiwis and Australians purchase second homes in NZ,” adds Harris. “It’s usually dependent on what tier of the market they are in, and where their primary residence is.


We are seeing Sydney residents nearing retirement buy second properties in Queenstown for lifestyle purposes. We are also seeing Kiwis in London buy second homes in NZ for future proofing, whereas other NZ-based investors are buying second homes to holiday in with extended family, or to rent out and eventually sell for their retirement nest egg.”



 Harris advises second home buyers to look at lifestyle areas or locations that provide good value and are close to jobs, infrastructure, transport and public amenities.


 “Christchurch is a good example of this, whether it’s for a holiday home near the beach or an investment property in the city,” he says. “The Southern Lakes and lifestyle regions will also continue to remain popular and increase in value.”



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