The Real Deal New York

Wanna buy a ghost town in New Zealand for $1.8M?

The deserted Lake Waitaki village comes complete with eight homes, a restaurant and almost 35 acres of land
November 03, 2018 01:00PM

(Credit: Pixabay)

Looking to move out of the city and very far away?

A deserted lakeside village in New Zealand — complete with eight three-bedroom homes, a restaurant and unmatched views — has been listed for $1.8 million, according to the South China Morning Post.

The global marketing of Lake Waitaki village is part of the New Zealand government’s push to lure its population away from the cities. In recent years, the country’s regional population has taken a hit from urbanization, and the government has reportedly invested $650 million in rural development.

The village, located on New Zealand’s South Island, was built in the 1930s next to a dam to house laborers, but, after the dam’s automation in 1989, it became a near ghost town.

Though the country has banned foreign homebuyers from purchasing existing housing stock, potential buyers from overseas are reportedly using local intermediaries to make inquiries. Foreigners can still buy land and commercial properties in the country, and the resi ban is waived if they are New Zealand residents who will live in the residence for at least 183 days per year. [SCMP] — David Jeans