Article: Cup puts wind in real estate sales

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 ...

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