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Over 200 Investors Go ‘Shares’ In Land Banking Te Anau Section
Real estate crowdfunding is finally here in New Zealand.
1 month after successfully crowdfunding their most recent section in Oamaru, Opoly has launched their fourth property, attracting over 200 investors to co-purchase a residential section in Te Anau, Southland, with shares starting at $100 each.
By investing a minimum of $100, members of the public will become co-owners of the piece of land. They will have a share relative to their investment and will hope to see capital growth in three year’s time when forecasted suburban growth is achieved.
The concept is called ‘blockified property’ and is the brainchild of Opoly Founder, Felix Watkins.
Opoly’s goal is to open up real estate investing to all kiwi’s, including lower income groups in New Zealand.
Many groups are becoming more excluded from the property market with each passing day.
The founding premise of Opoly has been turning the traditional monopolistic nature of real estate on its head.
“Regardless of terminology, investing in land, and land banking, is a positive force for those who are underserved in the current climate. We are excited to make property investing accessible and possible for all kiwi’s, regardless of their wealth status”, says Mr Watkins.
The property is located at 2 Tawera Place, Te Anau, Southland
2,500 shares are available at NZ$100 per share - valuing the section at $250,00
“We decided to focus on Te Anau as population density has been increasing, signalling the supply of land being made available, is not keeping up with rising population growth. Unlike many other asset classes, land is tangible, and with this current climate, it is hard to see land going down, as population grows into the future,” explained Watkins.
There is still 1 week remaining where investors will have the opportunity to snap up remaining shares while they last.
You can find out more about Opoly and and be notified of future land banking opportunities by visiting:
https://opoly.co.nz/properties
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