For the Big Spenders

A St Mary’s Bay, Auckland home, on the books at Boulgaris/Maguire Properties, is advertised in The New York Times’ international real estate section, which also provides an overview of Auckland’s current property market. Foreign buyers are more likely to purchase a house than an apartment, director Michael Boulgaris said. Many expatriates look to buy in the best school districts, which are in central Auckland. Boulgaris said houses with harbour views in the affluent neighborhoods of Auckland cost two to five million dollars. Homes in the South Island cost about half as much as homes in the Auckland area. A typical vacation home with mountain and lake views in Queenstown would cost about $1 million dollars.