Our adviser found asbestos from the insulation materials. Asbestos ware used in this country from 1970 to the mid of 1980. It may cost around NZ$10,000. We, investors, should not ignore these kind of risks.

In disposing the overseas property for Japanese investors, Japanese Tax Authority would scrutinize your movement by using the relationship with other countries tax authority. According to my Japanese tax account, he mentioned about MM2H Malaysian VISA case. Japanese Tax Authority imposed tax on the disposal of oversea assets who sold property when a person lives in Malaysia with MM2H visa.

ANZ Bank and other Kiwi banks will raise their mortgage rate next week. They will be raised by 0.2%. However, the mortgages’ need is less than 2 to 3 month ago.

Reserve Bank of New Zealand announced that they raised OCR rate to 3.5% (0.25% up) this morning. However, they won’t increase OCR this year. So, Kiwi dollar fell sharply to US dollar and Japanese Yen. ANZ Bank will increase housing loan rates to 0.2% ~ 0.3% in a few days.