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> In Auckland, New Zealand, average capital gains exceed $40,000 per month. Land banking is incredibly lucrative. On what property value?
by xur17 6y ago
> In Auckland, New Zealand, average capital gains exceed $40,000 per month. Land banking is incredibly lucrative.
On what property value?
- Mandatum 6y agoAverage property price in Auckland is 1.2M NZD. Property prices rose 20%+ last year in Auckland. So the capital gains quoted aren't really average, the average rate is half of that. Sure there are outliers; but if your property costs 2.4M NZD (1.7M USD) then those numbers are accurate. Either way, land is the best investment right now and I don't see it crashing any time soon. "Land can only go up". Even with COVID and closed borders.