Seems that Auckland property is being marketed in (at least) Malaysia and Singapore in a (presumably new?) advertisement:
Thought the Auckland Property Market was nuts? This from a friend working in Malaysia at the moment pic.twitter.com/jN7ySS08sd
— Wendy Adams (@soundbunny) April 21, 2015
Bernard Hickey links to Audio from a Singapore radio station:
Auckland apartments being advertised on Malaysian radio. 'No stamp duty, no land tax, and no capital gains tax!' https://t.co/hUbENE5Qg4
— Bernard Hickey (@bernardchickey) April 21, 2015
Lanthanide in comments transcribed part of that audio [slightly edited here]:
“How would you like people in New Zealand, to give you around half their weekly wages? Now if you happen to own an apartment in Auckland New Zealand, the high rent returns, other people’s money – around half a week’s pay for most people, could be paid to you as rent every week.
Now many people invest in Auckland because of the high demand for rents, there’s no stamp duty, no land tax, and within New Zealand, generally no capital gains tax either. It’s an investors dream, and very affordable.
New apartments in the centre of Auckland can be purchased for as little as $390,000, that’s right, $390,000, and with as little as $2,000 initial deposit, you can secure one today, for yourself as an investment.
If the idea of having people in New Zealand going to work for you, giving you hundreds of dollars a week, paying for your apartment appeals to you – and I’m sure it does – then call 6238 0118 to find out how it’s done. That number again, 6238 0118 call now.”
Kiwis are pretty much being portrayed as international suckers there, and the way we are refusing to address our property crisis it is hard to disagree.
So, expect more fuel to the Auckland property price flames. But don’t worry citizens, because according to our PM: