Updates on the Proposed changes to the Overseas Investment Act

According to Greg, the Government is likely to water down is proposed ban on foreign investors buying New Zealand residential property (Interest.co.nz, 19 June).

Foreign Buyers would be allowed to buy into larger, multi-unit housing development such as apartment, according to Parliament’s Finance and Expenditure Select Committee. However, before

Where a new development had a minimum of 20 units, overseas investors would be able to buy units off the plans, and retain them as investment properties once construction was complete. However overseas buyers would not be allowed to occupy these units themselves and there would be restrictions on how many units in a new development could be sold to overseas buyers.

If the overseas buyer would not be allowed to occupy these units themselves, then they will required to have someone manage the property for them. As a property manager, we aim to free the investors up and let them enjoy their life.

Metro NZ Property Management Limited (Metro NZPM) is composed of highly qualified property investors, property owners, property graduates and senior property managers with an obsession for superior customer service who will work closely with our clients to achieve their goals.

Our fair and reasonable rates, above-and-beyond quality of service, ability to maximize returns on investment and our intensive hands-on approach to property management, including proactive property maintenance recommendations, allows our investors to rest assured that their property is being well cared for and that they are getting the BEST deal. This approach has also provided a well maintained and pleasant living environment for our tenants as we call them, GUESTS.

Metro NZ’s Managing Director, Frank Rangi and his wife Zsuzsanna Tantos-Rangi, have invested in the local and overseas property market since the 1980’s and noticed disappointing service shortcomings within the industry that they wanted to address by establishing their own property management company.

We are not only managing property, we are also managing people. Therefore, the key to success is to understand our client’s need and to provide them with the best customer service.

Reference:

Greg Ninness, 19 June 2018, Interest.co.nz; https://www.interest.co.nz/

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