New Zealand singled out for investors

New Zealand has continued to emerge as an attractive overseas investment destination for buyers from the UK.

That is according to research from RightmoveOverseas.co.uk, which has seen a 50 per cent increase in interest to the destination in the last year.

"New Zealand is a beautiful and diverse country with an attractive climate, low crime rate, good health and education systems, and a population of only 4 million living in a land area the size of the UK," explained Justin Figgins, director of RightmoveOverseas.

"All these elements combined offer a lifestyle that's second to none and one that is particularly appealing to retirees."

Prices in the country are also relatively economical, with buyers able to obtain a new-build two-bed apartment in Christchurch for £104,000, or an established three-bed family home in the Stanmore Bay area of Auckland for £174,000.

The island's low costs also extend to other areas, according to RightmoveOverseas.

"Another factor is the low cost of living, and the fact sterling goes a long way in New Zealand - British buyers generally find that they can purchase a vastly superior property in New Zealand compared with the type of property their money will buy in the UK," continued Mr Figgins.

Buyers have been attracted to several key markets in New Zealand, with Auckland; Bay of Plenty; Wellington; Canterbury and Hawke's Bay all proving popular.

The type of investors is also proving diverse.

While some 67 per cent of investors are looking to relocate to the country, a further 12 per cent seek to retire their while a similar number seek to invest only, with another six per cent looking for a holiday home.

With such a developed market, investors should also have no trouble securing a foothold in the local property market.

"UK citizens travelling to New Zealand do not need a visa for entry and many retirees purchase property in New Zealand to spend a few months a year enjoying their second home there," explained Mr Figgins.

"Buying a home in New Zealand is a relatively straightforward process due to the lack of restrictions for UK residents and the variety of visas available for prospective migrants."

There is also no stamp duty or capital gains tax for foreign property investors in New Zealand.