Auckland has been propelled into the upper echelons of top cities for deluxe real estate according to research by global network Christie’s International Real Estate.
Demand from international buyers has put Auckland in the top spot followed by Toronto (last year’s number one), Victoria, B.C., Valencia, San Francisco with Sydney holding down ninth as the only Australian city.
The research had Auckland achieving a 63 per cent growth in sales of $1 million-plus properties.
A growing population (about 3 per cent last year for Auckland), low interest rates, no stamp duty, capital gains tax or land tax and a strong economy have helped fuel demand for high-end property in New Zealand’s largest city.
Overseas buyers including from Australia and Asia are helping lift this demand. According to Domain.com.au The Bank of New Zealand has estimated that 6 per cent of New Zealand homes are bought by foreign nationals with Australians accounting for about a quarter of that.
Property developers have been responding with a raft of quality developments to meet this demand and capitalise on beautiful Auckland’s stunning harbourside living.
Here we look at five developments currently underway in Auckland changing the face of prestigious inner-city living:
shaping a new landmark integrated residential community in one of the city’s most affluent and sought-after suburbs.
His mixed-use St Marks development is positioned in a premium, leafy suburban location on St Marks Road at Remuera, just southeast of the Auckland city centre, and will comprise three separate apartment buildings organised around a central courtyard.
The residential buildings, named The Mac, The Mark and The Grove, will house a total of 48 luxury apartments as well as ground-floor café, restaurant and deli offerings.
A fourth stand-alone building, The Blade, will shield the residences from the road and house commercial offices and professional suites, including Mr Harman’s new state-of-the-art breast clinic.
St Mark’s 48 apartments come in a variety of one-to four bedroom configurations, with The Mac building housing 16 apartments, The Mark nine and The Grove 23. There are also two ultra-premium penthouses crowing the The Mac and The Mark buildings. The generously proportioned residents are unlike anything previously offered in the Auckland apartment market and include flexible outdoor rooms with large glass sliding doors.