Queenstown - the Jewel of the South
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Unlike Auckland, where location is prized above all else, Queenstown locals, with no really undesirable suburbs, will shop with the following equation firmly at top of mind: Sun + age = warm.
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of the last few years, with more hotels beds about to be delivered. Queenstown’s infrastructure, built for holiday makers in the last century, is creaking under the weight of visitor numbers and needs considerable investment - and without it its ability to continue to grow is uncertain. The airport faces capacity restrictions, with hearty local resident opposition to unbridled growth. The commercially savvy and energetic local council is facing all these issues head on, however, the challenges are significant.
to describe flatting) are also popular as lowwage locals pack up to afford the rent. Queenstown residential property investors, according to the recently released Colliers Market Review and Outlook, are more confident about Queenstown’s market than any other region in New Zealand, although this confidence is on the decline.
Remaining confidence is likely to be thanks to peer-to-peer accommodation platforms like AirBnB. Residential property investors can dip into and out of commercial accommodation options without many of the compliance barriers or tax requirements faced by the traditional accommodation providers.
It is a well-known, but little discussed, topic that many residential accommodation providers are ‘forgetting’ to charge GST or declare rental income. What the next few years will bring is a more muted more-of-the-same. Destination Queenstown is predicting a slowdown in visitor numbers from the double-digits highs
Anna Mickell has been the CEO of the Queenstown Chamber of Commerce since February 2019. The Chamber provides education, support and advocacy services to over 600 member companies in the Wakatipu region. To find out more visit www.queenstownchamber.org.nz, or phone 09 441 8254.
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