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.
Interested to hear how we can help you and your investment? Find out how our Wellington Property managers can help you. We manage property in the Wellington and Hutt Valley regions. Feel confident your property and tenants are looked after by our professional Property managers with our property management services .
Discover how our Care & Return System will benefit you. Receive a no-obligation, FREE rental appraisal today for your Wellington investment property!
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Quinovic Kent Terrace | Wellington
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Quinovic Johnsonville | Wellington
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Quinovic Hutt Valley | Wellington