Talking residential here (but probably a very rough proxy for commercial): In Wellington NZ, a 3 bed house is almost NZD700k on average, having risen almost 15

Talking residential here (but probably a very rough proxy for commercial): In Wellington NZ, a 3 bed house is almost NZD700k on average, having risen almost 15% in the past year. That property might earn a bit less than NZD3k/m. Capital gains have been outstripping income (rent) for property here for some time. Many investors have the luxury of not even bothering with the hassle of tenants for this reason. A 3-6 month rent holiday would not be an issue for many.