WHEN THE BORDERS closed early in 2020 and overseas students were effectively banned from entering the country, there was speculation that Auckland City Central’s apartment market would crash. But for Hamish Duke – aka Mr Viaduct – the reality hasn’t been anywhere near the prediction.
In his 26-apartment portfolio, there was only one rent decrease, due to a change in personal circumstances, and the rest have continued renting out business as usual. “There’s still enough students around
and also young professionals; because the rental prices in the suburbs are still quite high, apartments are easy for them to rent and close to everything.”
However, within his apartment rental and management businesses there have been a few changes – notably converting short-term rentals into long-term due to the lack of overseas tourists.