You Can Buy This Village in New Zealand for a Cool $1.8 Million
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.)
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.
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.
"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.
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| 5X miles | 5 miles per dollar on flights and vacation rentals booked through Capital One Business Travel |
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- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
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- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month
Rewards Rate
| 2X miles | 2 miles per dollar on every purchase |
| 5X miles | 5 miles per dollar on flights and vacation rentals booked through Capital One Business Travel |
| 10X miles | 10 miles per dollar on hotels and rental cars booked through Capital One Business Travel |
Intro Offer
Earn 200K miles when you spend $30K in the first 3 months, and an additional 200K miles when you spend $150K in the first 6 monthsLIMITED-TIME OFFER: Earn up to 400K bonus milesAnnual Fee
$395Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.740-850Excellent
Why We Chose It
The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
- The Capital One Venture X business card has a very lucrative welcome offer.
- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
- The card requires significant spending to earn the welcome offer.
- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month