Queenstown housing trust offering homes for $200,000 - with a catch

Author
Newstalk ZB,
Publish Date
Fri, 5 Feb 2021, 7:19PM
(Photo / File)
(Photo / File)

Queenstown housing trust offering homes for $200,000 - with a catch

Author
Newstalk ZB,
Publish Date
Fri, 5 Feb 2021, 7:19PM

If you've never thought about moving to Queenstown before, now might be the time.

A local housing trust is offering 25 apartments starting at $200,000 - the same price they cost to build.

However, there is a catch-buyers won't be able to sell the property on the open market or transfer it to anyone else.

Julie Scott, executive officer of the Queenstown Lakes Housing Trust, told Heather du Plessis-Allan these are not free-hold titles - it's a leasehold program.

"It's what we call assisted ownership or progressive home ownership - so it's a stepping stone towards independent home ownership."

She says the goal is to help people a secure and affordable housing option. 

Scott says that they are selling some of them on the open market, with a one bedroom going for half a million.

She says there has been huge interest in the offer. 

"It's high density residential living in Queenstown, so it's a bit unique, but there are still people who understand the long-term benefits."

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