Houses in New Zealand selling without even advertising
She said the two-bedroom unit in Remuera’s popular Victoria Ave had a pre-auction offer of $685,000 but sold for $902,000.
That won’t end well.
Yesterday, PIMCO’s Mohamed El-Erian wrote about how the global crisis and low interest rates will create bubbles in emerging markets, but the same principles apply to New Zealand. If NZ is anything like Canada, there is lots of foreign money flowing in.
