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Article: Cup puts wind in real estate sales
- Article from:
- Sunday Star-Times
- Article date:
- December 13, 1998
CopyrightCopyright 1998 Sunday Star-Times. Provided by ProQuest LLC. (Hide copyright information)
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PREDICTIONS of riches flowing into New Zealand in the wake of
America's Cup hoopla look solid on at least one front -- real
estate.
Last week, Americans closely associated with yachting's blue
ribbon challenge closed deals on two million dollar properties.
"We are confident there will be a big (real estate) spinoff when
racing begins next year," said John Bayley from Bayley's special
projects division, which handled the sales.
There had been a big increase in American interest in prime
property since the New Zealand dollar shrunk to half the value of
the
US greenback.
More Americans were looking to escape the harsh winters of the
mid-west and east coast.
New Zealand appealed as a place ...