Reality Check: Why the coastal property market is still pumping
Sun, Sand, Beach, Bach. Ask any New Zealander where they really,really want to be and odds are it will be near the sea.
Tuesday, July 12th 2005, 5:43AM
by The Landlord
That keeps real estate agents in coastal settlements busy year round.Bob Hargreaves from Massey University ’s property unit says while high profile marketing campaigns from some of the larger real estate companies have contributed to the high prices being paid for some coastal properties,"there is something innate in humankind where people like to live near bodies of water."
Hargreaves says apartment style developments near the water will become more common. "People want to live by the sea but can ’t afford it, so more developers will look for situations to exploit.
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