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Queenstown

Queenstown is a resort town in the Otago region of New Zealand. It is the third largest town in the region of Otago. Otago is situated in the south west of the South Island of NZ. Queenstown itself is located on the shores of Lake Wakatipu, close to Southern Alps. The district has a land area of 8,705 km2. The town was named Queenstown because it was “considered fit for Queen Victoria”.

 

The town is known all over the world for its commercial tourism that includes ski and adventure tourism, both of which are popular with local and global tourists. Queenstown is one of the most attractive tourist destinations of New Zealand.

 

Queenstown is known as the “Adventure capital of the world”. It is a major center for adventure sports and offers skiing, white water rafting, jet boating, bungee jumping, mountain biking and tramping.

 

Queenstown is also known for its excellent wine and food. Pinot Noir wine produced in this region is a premium brand of wine. Wine tours are fast becoming an added attraction of Queenstown tourism. The town has been voted the “Friendliest Foreign City” by a US travel publication. Queenstown is well connected by road and air, but not by rail.

 

Queenstown has all the key ingredients for property investment. The main features of Queenstown and surrounding region are:

 

1. High capital and infrastructural investment: The region has been experiencing impressive development of infrastructures. Visitors to the destination have the facility of using airport (for growing number of international flights from Australia) and a large number of apartment complexes (already built or under construction). Besides, many retail chains have set up shop here thanks to the growth in native population (the town has seen a 22.1% rise in population since 2001. Its current population is 27,000).

2. High capital growth: The growth has averaged about 13% over the last 30 years; however during settled inflation, it consolidated in the range of 5 to 8%.

3. Low vacancy rates: The population of the town swells to about 45,000+ during peak tourism season. This results in a high rental demand. Another important demand is for lifestyle rentals which can stretch up to 3 months at a time. This seasonal demand creates many jobs each year.

4. Sustained long term growth: The region is undergoing a transformation from a local to an international resort destination. The tourism industry is being promoted thanks to other industries such as film (Lord of the Rings: Trilogy and X- men origins: Wolverine were shot here), lifestyle, technology and viticulture (cultivation of grapes).

5. A year round destination: Queenstown is fortunate enough to enjoy four distinct seasons all year round, something most other resort towns don't. All seasons are favorable for tourism and thus, provide for a secure tourism base and sustainable property market.

Investing in Queensland property is a wise decision because of its fast building reputation as a global resort and adventure town. The property in this area of NZ will always be in high demand.

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