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HOW I MET MY BROKER: No stamp duty and no broad CGT in NZ?! Is commercial property where the money is flowing?
Bigger assets, higher yields, better exchange rates, and a growing commercial property market are putting New Zealand on the radar for Australian investors.
Bigger assets, higher yields, better exchange rates, and a growing commercial property market are putting New Zealand on the radar for Australian investors.
On How I Met My Broker, Hung Chuy is joined by commercial buyer’s agent Steve Palise to explore why he has expanded into New Zealand and what Australian investors need to know before buying across the Tasman.
Palise said that Australians buying in New Zealand can access commercial assets with net yields of 6 to 7.5 per cent, while the exchange rate and absence of stamp duty can stretch their purchasing power by 20 to 30 per cent.
The pair also examine commercial lending, including lease doc loans, higher loan-to-value ratio (LVR) options and what different budgets can buy, from sub-$1.5 million warehouses and retail properties to larger multi-tenant assets.
Palise also explains why he moved away from residential property and how his team approaches commercial due diligence, while warning that the current yield opportunity may not last as more investors enter the New Zealand market.
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