Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Opoly opens up real estate investing from $100

Opoly opens up real estate investing from $100 with first successful deal.

Over the weekend, Opoly successfully hit the funding goal on their third property crowdfunding deal allowing everyday Kiwis to co-purchase an Oamaru section for $105,000.

By investing a minimum of $100 per share, 115 members of the public will become co-owners of the property. They will have a share relative to their investment and will hope to see capital growth in three year’s time when forecasted suburban growth is achieved.

The most investors came from Auckland (32), Wellington (27) and Canterbury (13) with investors from 14 of the 16 regions. The 2 regions without any investors were Gisborne and Southland. There was also 1 overseas investor.

The concept is called ‘blockified property’ and is the brainchild of Opoly Founder, Felix Watkins.

“We are excited to make property investing accessible and possible for all Kiwis, regardless of their wealth status”, says Mr Watkins.

1,050 shares were sold at NZ$100 per share, which represents 100% of the company.

The property is located at Lot 33 Ashburn Street in Oamaru.

“We decided to focus on Oamaru as population density has been increasing, signalling the supply of land being made available, is not keeping up with rising population growth. Unlike many other asset classes, land is tangible, and with this current climate, it is hard to see land going down, as population grows into the future,” explained Watkins.

You can find out more about Opoly and and be notified of future offers by visiting:

https://opoly.co.nz/properties

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



BusinessNZ: Third Snapshot Report Reveals $9.5 Billion Business Investment In Climate Action

Signatories to the Climate Leaders Coalition have committed to invest $9.5 billion over the next five years to reduce emissions from their businesses, as revealed in their third anniversary snapshot report released today... More>>

Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>


Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>