Where is the best city to invest in property? This is a question that is constantly at the forefront of property investors mind’s. When it comes to property we believe that every piece of real estate is valuable due to the world’s rising population. But let’s get specific. Where is the best place in New Zealand to invest in right now, today?
The best city to invest in property has to be Christchurch. There are many reasons why this is the case which we will run through. If at the end of this article you do not have Christchurch property on your radar, you’re truly missing out.
$40B Insurance Rebuild
On 22 February 2011 Christchurch was shook by the infamous earthquake with a magnitude of 6.2. This caused devastating damage to the city and tragically took the lives of 185 people.
With such a disaster came the massive task of rebuilding the city which the New Zealand Treasury estimates to be worth around $40B NZD. The exciting thing about this is that it is tax free, insurance money. This means that there is potential for massive economic growth. With such a large injection into the economy it is expected that GDP in Christchurch will rise, too.
Furthermore, as of 2022 Christchurch is the third most populous city in the country and is expected to grow more, nearing a population of 400,000.
Key Anchor Projects
Part of the city’s rebuild focuses on several major additions to increase the quality of life and create more opportunity. The council has shone the green light at plans to build a $683m multi-use arena. This will be used for events like international sporting and music events and is expected to generate around $20m a year for the economy. Along with these types of events, the venue will also be used for a range of expos. The benefit of this is that it creates room for employment and also aims to strengthen the community in Christchurch.
In addition, the city council has also put over $300m towards the Parakiore Recreation and Sport Centre. The complex will feature an Olympic swimming pool, gym facility, cafe and an indoor multi-purpose sports centre to name a few. This project will create a huge number of jobs and undoubtedly bring in many visitors from around the country. It will be the biggest venue of its kind in New Zealand and is slated for a completion at the end of 2023.
One of the most exciting things about Christchurch is that there is space in the CBD for residential property to be built. When comparing to other cities in New Zealand, this is just not as affordable or even possible. At Williams corporation we have a broad range of properties in Christchurch with strong rental yields and fantastic central locations available. If you want to take advantage of the great opportunity that investing in Christchurch offers, click HERE.