Friday 26th May 2006
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NZ Property Investors Federation president Martin Evans says virtually no-one expects prices to rise faster than they have in the past two years.
"The survey shows investors are confident that the long term trends will favour property and the returns it can generate. The Government's intended capital gains tax on direct overseas investment, announced since the survey was undertaken, may be a further encouragement for investors to increase their property holdings."
"The price paid for a property is not so important for those who long term investors and are taking a 10 or 20 year view," Evans says.
"Any slow down in prices is likely to be used by those experienced property investors to further expand their portfolios."
Most federation members are focused on rental streams rather than solely capital gains, Evans says.
"The median property investment 'breaks even' in terms of profit and loss. However many in the sector are taking advantage of the Loss Attributing Qualifying Company regime to deliver benefits."
"We believe our survey is an accurate reflection of the opinions of those most closely associated with property as an investment vehicle," Evans says.
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