Landlords investing with retirement in mind
As part of its monthly Crockers Property Index survey, it profiled investors to understand who they are and their motivations for investing.
It found half the investors had less than $750,000 of Auckland rental property. Just over a quarter had properties worth between $250,000 and $5090,000. A third had between $1 million and $5 million of Auckland property.
Thirty-five per cent owned two properties, 29% one and 14% owned three. Another 9% owned between five and seven properties and just 3% owned 11 or more.
Almost three-quarters of the investors said they owned their properties as a way to save for retirement. Another 47% said it was general nest-egg savings.
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