The Queenstown purchase is the second high-profile real estate deal Momoa has concluded this year.
The Herald reported in April that Āriki Group, the company owned by Momoa, Taika Waititi and Cliff Curtis, bought the West Auckland film studio Studio West.
Sir Sam Neill with his former wife Noriko Watana in 2006. It is believed that Momoa’s new home once belonged to Sir Sam. Photo / Getty Images
Momoa, who has starred in several big productions shot in Auckland and Northland, said New Zealand felt like home to him creatively, culturally and spiritually.
“There’s a deep respect for story, for land, for community, and that’s something I am drawn to,” he said.
“What excites me the most is the opportunity to build something lasting that supports local crews, nurtures talent, and creates pathways for the next generation of storytellers.
“I am proud to be part of that journey, and to help champion stories that deserve to be seen and heard around the world.”
Momoa has been a fixture of Queenstown-Lakes life in recent years. In April, he was photographed playing music at popular Queenstown Upstairs at The Bunker, of which he is a shareholder.
Momoa at Eden Park this year. He has said New Zealand feels like home to him creatively, culturally and spiritually. Photo / Getty Images
In posts shared across late April and early May, the venue promoted Momoa as one of its DJs.
The Herald reported last year that the 47-year-old actor was house-hunting in Central Otago, raising speculation he may be planning a more permanent move to the region.
He told the Herald that he first visited Queenstown in his early 20s and was immediately drawn to the area as it offered “everything I love to do”.
“I came here when I was about 20 years old, and when I landed there, Hawaii is home, but there’s never been anywhere in the world where I’ve ever felt more connected,” he said.
“I can’t really explain it. If it was my destiny, my ancestors … don’t know what it was, but the moment I stepped off that plane I felt it, and I’ve always been drawn to it.”
Queenstown-Lakes is home to some of New Zealand’s most expensive properties. Photo / Getty Images
Momoa’s $15m purchase is the second biggest house sale in Queenstown-Lakes this year, behind the $16.5m sale of a trophy lodge on Mooney Rd, in Speargrass Flat.
That deal was closed by Bayleys agents Sarena Glass and Sarah McBride. It is not known if there was an agent involved in Momoa’s deal, or if Momoa purchased through the Active Investor Plus scheme.
New Zealand Sotheby’s International Realty managing director Mark Harris, who just returned from a trip to the United States, said he was getting constant feedback from US agents that they had ultra-high-net-worth clients continuing to show interest in owning New Zealand property.
“There’s a growing trend of US high-net-worth individuals looking into New Zealand, and celebrities fall part of the category as well. There’s a proposed wealth tax being proposed for California, and that’s playing on their minds as well, but I think it’s largely the privacy, the space and the raw beauty of it that is attracting them,” he said.
“They are mentioning New Zealand as somewhere their clients are mentioning and if you asked them where do they know in New Zealand they will certainly say we’ve heard about Queenstown and sometimes the Bay of Islands. It’s more so the lifestyle areas than the cities, that’s for sure.”
A luxury lodge on Mooney Road, in Speargrass Flat, Queenstown-Lakes, was snapped up this year for $16.5m – $5m over the RV.
Harris said the mountains, the lakes and the privacy the Southern Lakes provided were big drawcards for wealthy buyers.
“And then you add on the fact we’ve got an airport where a private jet can be landed, and they can access property within a short time frame of arriving here.
“It’s just that accessibility factor and close to amenities and things they like doing, which is quite often golfing, skiing or hiking and those sorts of activities that the area provides all year round, which is pretty unique to the rest of the country and unique to the Southern Hemisphere.”
Harris said the changes to the Active Investor Plus (AIP) visa earlier this year had made it easier for overseas purchasers to buy and were generating more interest and investment in both Queenstown and New Zealand.
“The Southern Lakes – Queenstown, Wanaka etc – have been popular with overseas people for a long time and obviously with the rule changes that have occurred it’s reignited the ability for overseas people to purchase via AIP.”
Harris said this was positive because it gave sellers more options and created more competition in the top end of the market.
The recent $15m transaction was a significant sale for the Queenstown Lakes this year, he said, noting there had been several sales in the $10m-$12m price range, but that nothing had cracked $20m yet.
“The market is going in the right direction, but it’s certainly not 2021.”
Oliver Road managing director Cam Winter said there were a lot of well-known people who bought in Queenstown and many worked through either buyers’ agents or their own representatives to purchase properties.
“They like it because people don’t pay them too much attention. The hills around Queenstown are good at providing privacy and keeping secrets.”
OneRoof reported this month that Queenstown’s housing market was defying the slump being felt elsewhere in New Zealand.
Big sales, like Momoa’s, have grabbed the headlines but OneRoof analysis of the market found that the biggest lift was driven by the middle of the market.
Walker & Co agent Hamish Walker said Queenstown was defying the downturn for multiple reasons.
The first was the limited amount of land available, with the surrounding mountains putting the brakes on development. “Secondly, it’s an attractive four-season destination town now where people from around the world want to come and live,” Walker said.
The third was an influx of Australian buyers who were active in both the townhouse market, where prices start at about $1m, and the $2m to $5m mid-market.
Changes to Australia’s tax rules for property investors, he said, resulted in a big lift in enquiries from across the ditch, from 12% to 30%.
“You’re seeing a lot of 35 to 55-year-old Aussies moving to Queenstown because they feel it’s just too hard to get ahead now in Australia with all the taxes. So, there is a bit of reverse migration happening. They’re coming to move here with their kids who are primary or high school age.”
Walker said first-home buyers were also out in force.
“In Queenstown, the first-home buyer market is about 29% against a 10-year average of about 20%.”
Another factor in the strong Queenstown-Lakes property market is the growing population driven by migration.
The Queenstown Lakes District Council is projecting higher population gains than previously expected. It now expects the district’s resident population to reach 110,983 by 2055, compared with 98,345 in its previous projection. Population growth creates continuing demand for somewhere to live.