Catalina Bay Apartments, a waterfront development of homes within Auckland, New Zealand, will be made available to potential buyers from Singapore. In an announcement the marketing agency Knight Frank says the development will be showcased during an event held in Singapore scheduled for October 18.
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Catalina Bay Apartments is a part of Catalina Bay which is a mixed-use, waterfront project created by New Zealand developer Willis Bond situated in Hobsonville Point. The development is approximately 30 minutes away from Auckland CBD. Auckland CBD area. With 73 apartments and nine townhouses Catalina Bay Apartments is scheduled to be completed in the 4th quarter of 2024.
The site for Catalina Bay was formerly a Royal New Zealand Airforce base. In August of this year, Willis Bond acquired the rights to redevelop the site. The first phase in the project, that consists of the renovation of Air Force buildings into new commercial, hotel office, and retail space is now complete. The amenities available to residents comprise Catalina Bay Farmers Market, Catalina Bay Farmers Market, co-working space The Hangar and a variety of eateries.
“We are extremely excited to present Catalina Bay’s potential into Singapore,” says Clarice Lau, sales director residential at Knight Frank Singapore. “It provides a unique combination of waterfront living to homeowners as well as investment attract Singaporean buyers through putting quality amenities, retail and commercial right at their doorsteps.” The prices of houses in Catalina Bay Apartments will start at NZD1.05 million (about $860,000).
Nicholas Keong, Knight Frank Singapore’s head of residential as well as private office, says in Knight Frank’s The Wealth Report 2023 highlights New Zealand ranking in the top seven nations of choice for Singaporean homebuyers, which are attracted by Auckland. “Not just are they drawn by the lifestyle options available in Auckland, but also the educational options and long-term plans for migration They also recognize the long-term potential of investment in Auckland, which has a long-standing history of appreciation in capital and rental growth.”
Based on Knight Frank, rents for Auckland properties have experienced an increase of 28% growth in a year in the last six years. In addition, the interest rate has also displayed signs of a peak and the cash rate staying in the range of 5.5% over the last two quarters.