Houses, apartments and units are being sought for rental in Westhaven, Viaduct Harbour, Princes Wharf, lower Auckland CBD, Herne Bay, St Marys Bay, Freemans Bay, Parnell, Ponsonby, Grey Lynn, Orakei, Mission Bay, Kohimarama, St Heliers, Remuera to accommodate the America’s Cup team members and support crew and visitors who will come to watch the America’s Cup.
This will continue to push up rental demand in these Auckland suburbs from now to 2021.
Also wealthy expats who may prefer to buy a place instead of renting have also helped prop up property prices in high demand places like Herne Bay, St Marys Bay, Freemans Bay, Parnell and Ponsonby. Some expats may even want to move back to New Zealand in time for the America’s Cup.
All in all, New Zealand and its tourism industry will benefit from the America’s Cup in 2021 and this will help stimulate the economy.