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SG New NZ project launching in Singapore

Property Here - Friday, October 18, 2013

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Park Residences, Conrad Group’s newest residential project in Auckland, New Zealand, will launch this weekend (19-20 October) at the Regent Hotel in Singapore as well as the Mulia Hotel in Jakarta.

Located in the central business district, the development will comprise 225 residential units of studios and one- to three-bedrooms and 32 retail units. Prices range from NZ$285,000 (S$298,900) to NZ$885,000 (S$928,200).

Park Residences features three high-speed lifts and is also designed with high-tech security systems such as intercoms, CCTV cameras and swipe access card. 

Earlier this year, the developer launched two projects – Urba and Queens Residences. The former was 85 percent sold within 10 weeks, while the latter reported sales at an even faster pace.  

Meanwhile, buying property in New Zealand is considered favourable to non-residents who can secure their purchases on a 15 percent deposit and pay nothing further until completion. The country does not impose any tax on sellers and has no stamp duty, land tax and limitation on sales.  

Stephen Sutorius, Director of Conrad Group, said: “There has been tremendous interest and sales to local NZ and offshore Asian investors who are attracted to New Zealand because it offers a transparent and stable business environment and positive outlook with its consistent economic growth, strong currency, and population growth.”