New Zealand is known to be a country that is exceptionally beautiful, healthy and family friendly. It is a first world country offering all the benefits that can be expected from a country that strives to advance itself in all aspects of society and economy.
Geography New Zealand is located in the Southwest Pacific Ocean approximately 1900km east of Australia. The country consists of 2 islands called the North Island and the South Island and a number of small outlying islands.
The country is about the same size as Japan. Half the country total land area is pasture land and about a quarter is under forest cover. Economy NZ is a mixed economy, i.e. imports/exports/manufacturing. The agricultural, horticultural, forestry, mining, fishing industries play a major and important part in NZ economy especially for the export sector. The primary sector contributes over 5-% of NZ total export earning.
The service sector accounts for 60% of the economy and employs about 72% of the workforce. The country is strongly trade orientated. The largest exports markets are Australia, Japan, China, USA, Japan, Korea and the UK. For an extensive summary of the NZ economy see the Treasury website
The population of NZ is urbanised and is estimated at just over 4 million people and approximately 75% of people live on the North Island, with the greatest percentage living in Auckland. NZ is a multicultural country which makes the country very diverse and great emphasis is placed on cultural safety.
It varies from warm subtropical in the north to cool temp climates in the south.
The warmer months are generally in January and February while June and July are the coldest.
New Zealand dollar
Yes, New Zealand welcomes foreign investors with hardly any restrictions
The Real Estate market is regulated by REAA, Real Estate Agents Authority http://www.reaa.govt.nz/Pages/default.aspx When the seller and buyer have agreed on all aspects of the sale and purchase agreement, a deposit (usually of 5-10% of the sale price) is paid to the real estate agent by the buyer.
This money is initially held in the agent's trust account. The agent usually takes their commission from the deposit when the contract becomes unconditional.
This is agreed between the seller and the agent as set out in the agency agreement. The seller should make sure that the deposit is large enough to cover the agent's commission. (between 2-4% dependant on the area)
The buyer pays the remainder of the amount for the property on the day of settlement, usually through their lawyer. The settlement day is usually the date when the buyer can move into the property.
Lawyers generally charge up to $2,000 to process a sale
Valuations can be up to $500
Transfer Fee $70
Inspection up to $400
Land Registration confirmation up to $400
When you find a suitable home, a tenancy application is completed and sometimes an application agents fee (usually one rent) to cover the administration, which is paid by the tenant If successful, a lease agreement (usually 12 months) is drawn up and signed by applicant and landlord.
A bond equivalent to a month’s rent is paid to the Landlord Generally your rent will be paid every fortnight by standing order directly into the Landlords account in advance
One months Rent Agency fee to be paid by the Tenant