_Compelling reasons to purchase freehold Auckland property in a world-class waterfront precinct
Singapore – Stunning Catalina Bay, formerly a Royal New Zealand Airforce base, is one of Auckland’s most sought-after waterfront locations with 82 luxury freehold residences now under construction.
Offering unparalleled views overlooking picturesque Waitemata Harbour, the precinct is home to award-winning eateries, an artisan farmers market and the iconic Little Creatures brewery.
Located at the northern most point of Hobsonville Point, this development is also the location of an exciting new development comprising 73 apartments and 9 townhouses situated directly on the water’s edge. The project has an estimated completion of Q4 2024.
Residents will benefit from an on-site concierge, exclusive shared residents mooring, theatrette and water sports storage, direct access to the ferry terminal, coastal boardwalk and local amenity including The Hangar.
Several indicators point to how now is as good a time as any for prospective homeowners and investors who have been on the fence about making a commitment to purchase property in the dynamic city of Auckland.
Net immigration has been on an upward trajectory, surging to over 96,000 this year following a steady climb since mid-2022. Auckland is a catchment area for much of this migration; a mix of pull factors include career opportunities generated by the city’s position as New Zealand’s financial capital, a safe and friendly environment for families, and possibilities for travel and exploration.
This influx of new residents could possibly lead to a spillover effect into the property market, underpinning Auckland’s growing appeal for real estate opportunities. While demand is likely to filter into rental market initially, two factors could provide that push for tenants to turn into homebuyers.
There has been a 28% year-on-year increase in rents for Auckland properties over the last six years, climbing from a median weekly of $500 in July 2017 to about $640 in July 2023. Interest rates are also peaking; the cash rate has held over the last two quarters at 5.5%, indicating stabilisation in the mortgage market and resuming confidence among homebuyers.
Says Clarice Lau, Head of Sales Residential, Knight Frank Singapore, “We are incredibly excited to bring Catalina Bay’s opportunity to Singapore. An ideally situated development located at the waterfront edge of Hobsonville Point, Catalina Bay is a 30-minute drive to Auckland’s CBD area, and easily accessible by bus or ferry.
“It offers a unique blend of waterfront lifestyle living to homeowners, and investment appeal to Singaporean buyers by placing quality retail, commercial and amenities at their doorsteps.”
Adds Nicholas Keong, Head, Residential and Private Office, Knight Frank Singapore, “According to the Knight Frank Wealth Report 2023, New Zealand ranked in the top seven countries of choice with Singaporean home buyers, in particular Auckland. Not only are they attracted by the lifestyle on offer, education options and long-term migration plans, they also recognise the long-term investment appeal of the city, which has a strong track record of capital appreciation and rental growth.”
The launch event for this exciting development will be held in Singapore on 18 October 2023.
For further information, please contact:
Clarice Lau
Head of Sales, Residential, Knight Frank Singapore
clarice.lau@sg.knightfrank.com | +65 8586 1987
Lilian Hoe
Director, Marketing, Communications, Legal and Compliance, Knight Frank Singapore
lilian.hoe@sg.knightfrank.com | +65 6228 6807
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