PHOTO: 306 Cowes Bay Road, Waiheke Island. Photo / file
The Auckland property market is forecast to romp ahead again this year, yet some of our city’s finest homes are failing to sell, despite months – sometimes years – of high-profile marketing.
Mansions in the $10 million-$20m league with views, expansive pools and tennis courts are something most of us could only dream of.
So why no buyers? Is it the foreign buyer ban? High price tags? A paucity of buyers in this league?
To be in the top price-bracket, the property must be completely renovated and ready to live in, agents say. Millionaires don’t want to have to lift a finger.
It must also be in the right suburb, have wide appeal and great views.
“There’s lots of Aucklanders with $20 million in their pockets just waiting for the right place to come up,” says one top agent.
“They’ll move fast once it’s for sale.”
Other agents say they’re close to closing deals and sale announcements are forthcoming – or their buyers are in no hurry and are sticking to their asking prices.
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