Property · Building · Design
A cat and a dog, a secluded woodland setting, reading and listening to music in a home of your own, gazing out over endless green countryside, hearing clear birdsong from the trees and enjoying all-day sun—how many people dream of this life in New Zealand?
Published in October 2022, YIJU | New Buildings, New Ways of Building is the eighth-anniversary special edition of the New Zealand Chinese Building Industry Association (NZ Chinese Building Industry Association Inc., NZCBIA).
Founded by the New Zealand Chinese Building Industry Association (NZCBIA), the New Zealand International Building Expo & Summit (NZIBES) has grown over several years into one of the largest annual events in New Zealand’s construction and property industries. In 2022, NZIBES set its goal as “North and South working together for shared success” (Collaborate UP for our industry’s shared success). It fully realised that goal with its South Island debut on 14 October, holding the 2022 NZIBES South Island Summit in Christchurch, the island’s largest city.
Looking back on my 2022, I have lost count of how many times the Reserve Bank of New Zealand raised interest rates, and how many sighs followed. I cannot remember how often I stared blankly at market figures that kept falling, or how often I stepped out of the office only to realise it was dark again.
It is widely recognised that Chinese New Zealanders have made a major contribution to property development and the wider construction industry, playing a pivotal role throughout the process, from land development and housebuilding to sales.
In August 2022, Housing Minister Megan Woods announced that certain types of new and existing build-to-rent (Built to Rent , BTR) developments would be permanently exempt from interest limitation rules. “To qualify, developments need to offer tenants leases of at least 10 years. Tenants can request shorter agreements if they wish, and the development will still qualify for the exemption.” This tax concession brought BTR developments back into the spotlight in New Zealand, following the concept’s initial introduction in 2019.
Over the past three years, the COVID-19 pandemic has had a significant impact on immigration policies worldwide. In response to the crisis, many countries have experienced disruption and changes in how they manage their borders and immigration processes, including border closures, travel restrictions, changes to visa processing and shifts in immigration policy.
The number of apartments outside Auckland’s CBD will soon exceed the number within it
2022 marked a turning point for economic activity in New Zealand. Throughout the year, another round of US interest rate rises and balance sheet reduction saw the global economy transition from an era of inflation to one of deflation, and New Zealand could hardly remain insulated.
Speaking of renovating older homes, in 2022, the global housing market entered a deep freeze, while New Zealand’s property market continued to fall, recording its largest decline in 30 years. What questions about New Zealand’s property and construction sectors matter most to you in 2023? Policy changes? Investment opportunities? How to choose? In this issue, YIJU New Zealand has selected 4 of the most representative questions from the 25 received and invited four professionals from different fields to share their views.
Auckland's property market has recently resembled a roller coaster, constantly lurching up and down. The rapid growth driven by the pandemic over recent years has given way to a decline caused by soaring interest rates. The media is full of alarming stories about negative equity, where a home's current value is lower than the outstanding mortgage, but the reality is less dramatic. Yes, prices are falling, but compared with the remarkable gains of the past 10 years, the current decline is at most a correction. House prices have not even fallen back to 2020 levels.
Kitty’s story charts a girl’s growth from gentleness to strength. It is an inspiring account of an independent woman pursuing her dreams without giving up, an exploration of women’s limitless possibilities, and an approach to life that combines an apparently delicate, vulnerable exterior with resilience and strength within.