Although the median price of the average New Zealand home has remained relatively stable since January, 2009 (1 April, 09 Bloomberg Report); the price decrease of 8% over the last year, and the NZ dollar decline of between 16 and 28 percent against the Euro and US currencies respectively during the same period, now provides international buyers real bargains for luxury property in the South Island.
Christchurch, New Zealand (PRWEB) April 8, 2009 -- For international luxury home buyers from the USA and Europe, the availability of stunning panoramic sea and mountain views of South Island New Zealand have never been more affordable. For example, the foreign currency price of a 2 million NZ dollar South Island luxury property has decreased over the last year from 1.6 to 1.16 million US Dollars; and from 1.02 million to 860,000 Euros.
"This is the perfect storm where the international luxury home market forces are converging simultaneously over New Zealand to not only provide the best currency price opportunity for some international buyers in the short term; but also creates more demand to contribute to the restoration of the New Zealand market domestically and internationally", says Rosemary Schulte of New Zealand's Ray White Real Estate. Rosemary's latest listing up for Auction on 30 April, 2009 is a luxury beach front property on Christchurch's famous Pegasus Bay in the local village of Sumner. "This elegant home is the ultimate beach front lifestyle destination with views of the Christchurch hills, the Pacific Ocean and the famous Southern Alps". To register for the Auction by telephone bid or proxy, contact Rosemary Schulte at +64-3-322-1810 or e-mail at email@example.com.
Known as the garden city, Christchurch has a population of about 400,000 with a historical English flavour, including the famous Christchurch Cathedral, its own Avon River with punting, tram rides, and walks through the spectacular Botanical Gardens. The Canterbury region is renowned for its year round golf, adventure sports activities and is home to rugby's Canterbury Crusaders. Christchurch also provides access to an array of winter alpine sports including up to six club and public ski fields within a two hour drive. The city also boasts two prominent universities along with a full medical college. From an employment and technology perspective, Christchurch is quickly becoming the Silicon Valley of the South Pacific, as recently quoted by NZ MP Jim Anderton.
Read the full story at http://www.prweb.com/releases/NZ-beachfront/properties/prweb2305534.htm.
Copyright©2009 Vocus, Inc.
All rights reserved