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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