Quote Originally Posted by Vagabond47 View Post
Not surprised, Kiwis generally aren't a big fan of apartments. The amount of apartment blocks needing remediation hasn't done their image any good, and when you are shopping for property and look at apartments, and discover $5k pa Body corp levies you lose interest real fast.
Friend of mine lives in a 90 apartment complex, very nice, well maintained, not cheap to rent or to buy. 88 are rentals. This is Wellington central - big rental shortage here.

If not bought off the plan as rentals or for owner occupiers, nobody should be surprised if the development falls over. Big question - in a shortage why are investors not buying (existing or new)? Government policies have plenty to do with it.