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Article: Cup puts wind in real estate sales

Article from:
Sunday Star-Times
Article date:
December 13, 1998
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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

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