New Zealand vineland value drops 60%, but no takers
New Zealand vineland value drops 60%, but no takers
Jul 20, 2011 6
New Zealand vineyard prices have fallen significantly over the last four years, but the market for vineland is still stagnant, experts say. Prices across the country have come down by as much as 60% but there are still properties that have been on the market for several years.
John Hoare, viticulture specialist for the Marlborough branch of real estate agent Bayleys, told Decanter.com, 'Prices [for established vineyards] are as little as NZ$100,000 per hectare (ha), whereas in 2007 they were NZ$250,000.’
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