Auckland waterfront development Catalina Bay Apartments to launch in Singapore
A waterfront residential development located in Auckland, New Zealand, Catalina Bay Apartments, will be launched to prospective buyers in Singapore. Marketing agent Knight Frank says the development will be demonstrated at an event in Singapore to be held on Oct 18.
Catalina Bay Apartments is part of Catalina Bay, a mixed-use, waterfront development by New Zealand developer Willis Bond located at Hobsonville Point. The 73-units development is an approximate 30-minute drive to the Auckland CBD area. Catalina Bay Apartments also have nine townhouse and the development is slated to be finished construction in 4Q2K24.
In August 2016, Willis Bond acquired the rights to redevelop the land which was formerly a Royal New Zealand Airforce base. The initial stage of the development, which includes the refurbishment of Air Force buildings into new hospitality, commercial, office and retail spaces has been concluded. Local amenities now include the Catalina Bay Farmers Market, co-working space The Hangar and various food and beverages establishment.
“We are extremely delighted to showcase Catalina Bay’s potential to Singapore,” says Clarice Lau, head of sales, residential at Knight Frank Singapore. “It presents a special combination of waterfront lifestyle living to homeowners, and investment appeal to Singaporean buyers by placing quality retail, commercial and amenities at their doorsteps.” Starting price Catalina Bay Apartments will be from NZD1.05 million ($1.22 million).
Nicholas Keong, Knight Frank Singapore’s head of residential and private office, points out that Knight Frank’s The Wealth Report 2K23 shows New Zealand ranking in the top seven countries of choice among Singaporean home buyers, who are especially drawn to Auckland. “Not only are they captivated and memerized by the lifestyle on offer, education options and long-term migration plans, they also acknowledged the long-term investment opportunity of the city, which has a reputable success past of incredible capital appreciation and rental yield.”
According to Knight Frank, Auckland properties rental have seen a 28% y-o-y increase over the last six years. Meanwhile, New Zealand’s mortgage rate has also almost reached a saturation point, with the cash rate holding steady at 5.5% over the past 6 months.
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