Leasehold Owners: What Happens Next May Change Everything
Leasehold Owners: What Happens Next May Change Everything
If you own leasehold in the CBD, chances are you've got a rent review coming. For many properties, this happens every 7 years—and it’s about due again.
On paper, leasehold can feel like it’s working:
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Your apartment rents maybe for as much as $850–$950/week
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You see regular income
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You’re covering costs—for now
But here’s the thing:
Ground rent doesn’t rise slowly. It jumps.
We’ve just seen a Greenlane property jump from $45,000 to $202,000 a year.
That’s a 344% increase—almost $4,000 a week just in lease costs. There's still Body Corp, Rates, Utilities, Insurance, Repairs and Maintence...
This isn’t about scaring you. It’s about helping you plan.
If your lease is up for review this year, buyers know. They’re factoring that in.
They're not buying based on current costs—they’re pricing in the next jump.
So here’s the real question:
If your costs go up, but your rent can’t (not immediately, not legally)—
What happens to the value of your property?
In the last few months, we’ve seen:
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Scene 1 sell for $33,000 on average. Low $7,000 - High $55,000
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Scene 2/Britomart Point sell for $118,000 on average. Low $50,000 - High $250,000 (Next highest sale was $172,000 which again was $40,000 more than the next sale so these are a few outliers)
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Scene 3 sell for $15,000 Low - High $80,000. Average $44,500.
Buyers are still out there—but they’re cautious.
If you’re considering selling, now may be your best window. Before the numbers change. Before buyers step back even further.
City Sales is Auckland’s leasehold expert.
We’ve helped hundreds of owners exit strategically, before the market shifts.
We can show you your real position—and what options you still have.
📞 09 3030 601
📍 citysales.co.nz
Let’s talk before the decision is made for you.