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You Can Buy This Village in New Zealand for a Cool $1.8 Million

Nov. 09, 2018
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2 min read
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You Can Buy This Village in New Zealand for a Cool $1.8 Million
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Missed your chance to buy this island off the coast of England? No problem. Now an entire abandoned village is up for sale in New Zealand. And at just $1.8 million, it's a steal. (No seriously, that's less than the average New York City apartment.)

(Photo courtesy of Trade Me Limited.)

Lake Waitaki Village on New Zealand's South Island — renowned for its lakes, mountains and glaciers — was built in the 1930s as housing for laborers working on the Waitaki Dam. When the dam became automated in the late '80s, the village was abandoned and it's remained that way ever since.

The 35-acre village comprises a 6,404 square-foot main lodge with owner's accommodations, a reception area, lounge and billiards room. Surrounding it are eight three-bedroom houses and a 969 square-foot cafe and bar with a full commercial kitchen. Oh, and did we mention there's a nine-car garage? Sure, the décor leaves a lot to be desired (you'll probably want to rip out the dated carpet), but the setting on the edge of a glittering blue lake has plenty of potential.

The listing touts the area's scenic beauty, saying "the area's tourism potential is only recently starting to be realised with the opening of the Alps to Ocean (A2O) cycle trail bringing many new visitors to the region."

Still, no need to worry about overtourism here. The closest town of Oamaru — home to two penguin colonies and the country's oldest public gardens — is a 50-minute drive away.

(Photo courtesy of Trade Me Limited.)

The catch? New Zealand's parliament recently passed a law prohibiting foreigners from buying existing property in the country, a reaction to soaring real estate prices being driven up by foreign investors.

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"If you've got the right to live in New Zealand permanently, you've got the right to buy here," Trade Minister David Parker said, according to CNN. "We believe it's the birthright of New Zealanders to buy homes in New Zealand," he added.

Featured image by johnston_realty

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  • Annual Fee

    $325

  • Recommended Credit

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Why We Chose It

There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits. (Partner offer)

Pros

  • 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
  • 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
  • Packed with credits foodies will enjoy
  • Solid welcome bonus

Cons

  • Not as useful for those living outside the U.S.
  • Some may have trouble using Uber and other dining credits
  • You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
  • Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
  • Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
  • Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
  • Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
  • $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
  • $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
  • $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
  • $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
  • Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
  • No Foreign Transaction Fees.
  • Annual Fee is $325.
  • Terms Apply.