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New Benchmark Set by Million Dollar Plus

7 October 2005

New Benchmark Set by Million Dollar Plus

Buyers Keen on Papamoa

The million dollar plus coastal property buyer is recognising beautiful Papamoa just over 10km East of Mt Maunganui as “the new place to be” compared to other more renowned beachfront areas according to owner of eight Harcourts offices in the wider Tauranga/Mt Maunganui area, Max Martin.

Mr Martin said the recent $2.15 million sale of a one year old upmarket beachfront home in Taylor Road, Papamoa set a new benchmark for the area. Another recent Papamoa house sale at $1.82 million shows property and buyers at this level are not one-off.

He added that while Mt Maunganui continued to enjoy a very high level of buying activity, in the last ten years nearby Papamoa “has experienced absolutely hugegrowth including plenty of building activity in the area with around 65 percent of the million dollar plus buyers from outside of the area”.

Another feature of the growing town was plans for a new major apartment complex called ‘The Navigator’ to be build in Papamoa East. “With good sales off the plans and the continued frenzied pace of building in the area, the Papamoa coastal suburb is really beginning to rival neighbouring Mt Maunganui for infrastructure and social amenities.”

The Taylor Road property was marketed by Mark Hollinshead and sold by Lynette Sickler and the $1.82 million property was marketed by Lynette Sickler and sold by Tess Halse and Jo Gunn, all from Harcourts Papamoa. Mr Hollinshead is also marketing ‘The Navigator’ which will include 24 two and three bedroom upmarket apartments featuring outdoor decking, secure underground parking, with café and retail shops on the ground floor.

ENDS

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