Queenstown Property Market and Real Estate Guide

(Queenstown, Otago, South Island, New Zealand)



Photography showing view over QueenstownQueenstown has a fine setting over the large 'S' shaped Lake Wakatipu and is perfect for those who enjoy mountain vistas and laid-back vibes. It is New Zealand's adventure sports capital and only has a population of around 10,000 people - a number which is dwarfed by the tourist fraternity, both in the summer and the winter.

The town is surrounded by lakes and mountains and there are some incredible places to buy property, most of which are out of town. Due to its small populace, Queenstown has a shortage of homes, although prices here are cheaper than in Christchurch, the main South Island city.


New Zealand's housing market in general is on the up, and this part of the South Island in particular (including Wanaka farther north) has seen higher price rises than the North Island.

Downtown Queenstown is the most expensive place to be, followed by Kelvin Heights on the south side of the lake. Nearby Lower Shotover has more available housing and apartment rentals, while Arrowtown is also an up-and-coming choice.

Renting Serviced Apartments

Queenstown is not big on serviced apartments, although it is becoming cheaper to rent than buy in the city. Most places tend to charge by the night and are aimed at the tourist industry, but better deals are available in the suburbs or satellite towns.

Prices for renting serviced apartments in Queenstown are similar to prices for three- and four-star hotels per night, yet monthly deals can be had. Expect to pay top dollar for a fully furnished serviced apartment, which would include all mod cons and cleaning.

Buying Apartments and Houses

Foreigners are able to buy apartments and houses in Queenstown without restriction, although owing property in New Zealand has no bearing on a person's ability to obtain a visa or residency. It is currently a good investment to buy here, as property prices in Queenstown have risen for the last few years.

You can buy-to-let in New Zealand, unlike in Australia, although income will be taxed between around 20 and 40 percent. There are no real estate or capital gains taxes in New Zealand and transaction costs are low - usually at around five percent - of which the buyer only pays about 0.5 percent, since the seller pays the real estate agent fee.

Real Estate Agents

Fortunately for buyers, the seller pays the real estate agent's commission in New Zealand, which is typically between three and four percent. There is also a 12.5 percent GST on the purchase price. There are several worthy real estate agents in Queenstown, along with offices of large national chains.

Some Queenstown real estate agents:

Harcourts Queenstown Real Estate
Address: 39 Shotover Street, Queenstown, 9300, New Zealand, NZ
Tel: +64 03 441 0777
Email: queenstown@harcourts.co.nz
Website: www.harcourtsqueenstown.co.nz
Harcourts is one of the top realtors in the Lakes Region of the South Island, with a well-established office in Queenstown.

Bayleys Queenstown
Address: 50 Stanley Street, Queenstown, 9300, New Zealand, NZ
Tel: +64 03 450 0200
Email: queenstown@bayleys.co.nz
Website: www.bayleysqueenstown.co.nz
A professional and well-established outfit serving the needs of property buyers and sellers throughout New Zealand, with offices in Queenstown.

Queenstown Hoamz
Address: 10 Athol Street, Queenstown, 9300, New Zealand, NZ
Tel: +64 03 441 8858
Website: www.hoamz.co.nz/home/queenstown
Covering the Wakatipu Basin in property sales, rentals, and investments, Queenstown Hoamz has a decent portfolio and up-to-date information on local real estate.