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.