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More people are interested in living with family – even at the top end of the property market.
Housing Survey data shows about one in 10 people want, or plan to, live with multiple generations in their next home.
Sotheby’s International Realty says wealthy buyers, like Active Investor Plus visa holders, often look for properties to accommodate this.
Managing Director Mark Harris told Heather du Plessis-Allan the areas they’re seeing this in currently are places Queenstown, Wanaka, and the Bay of Islands, and while some are buying holiday homes, there is a longer term element as well.
He says there’s definitely a view towards intergenerational wealth protection, with people pooling resources and looking at New Zealand from a long-term point of view.
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