Is residential property investment for serious investors, or just for private individuals who want to own one or two units?
In Wellington, like the rest of the country, most property investors own one or two properties, although many of them would probably want to own more.
In other markets however, some investors own thousands of rental properties, succeeding in maximising their wealth to the extreme. In New York, Richard LeFrak sourced his net-worth of $6.9 billion from real estate; owning approximately 9,000 apartments throughout the city, while Boston Capital owns over 150,000 units around the country, and the UK Hearthstone Investment Funds, who own 20,000 units.
What these large and well-resourced owners prove is that residential property has attractive merits as an investment class. In Wellington, apartments are popular with investors and a great way to start small and add additional units as rents and valuations rise. TradeMe has reported increasing rents throughout Wellington, with apartments increasing to $422 per week, a figure that’s expected to continue growing.
Given the returns and growth we expect to see the emergence of more single owner apartment complexes in Wellington within the next 5 years as well-resourced investors see the reliable and increasing returns of this property investment category.
If you're considering Property Management get in touch with us today. Locally owned and managed, we offer residential property management services across the entire Wellington & Hutt Valley region.
We take care of investments, offering peace of mind and a personal service to investors and tenants alike. Our solutions are backed by industry-leading technology and proven systems that promote both excellent property care and strong investment returns. Taking on all aspects of the landlord’s role, we guide our clients with professional, tailored advice using our extensive experience and insight in the rental market that can only be built over time.
If you would like to chat about the possibility of working together, or to receive a no-obligation, FREE Rental Appraisal get in touch with our team today.
Quinovic Johnsonville | Wellington
Call Jordan Atkinson - 027 297 0873
Quinovic Hutt Valley | Wellington
Call Helen Vance - 027 487 8103
Quinovic Kent Terrace | Wellington
Call Jordan Atkinson - 027 297 0873
Quinovic Wellington Property Management
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