Kia ora koutou, he pātai tāku.
He aha te tīkanga o te kupu nei - ‘Rōrāi’?
Kāore au i kite i te kupu i roto i te aka.
Does anyone know the definition of this word - Rōrāi?
I cant find it in the dictionary.
This is from the Wordle.Global Māori game.
Ngā mihi nui!
Kia ora,
I bought a 1-bedroom apartment in Māngere in 2020 (the building was completed in 2019).
It has a dedicated carpark, balcony, is in a gated complex with security cameras and a live-in manager. It’s actually been a great place to live—quiet, well looked after, and I’ve had no issues.
I’m starting to think about my longer-term future and may eventually move out of Auckland. My current plan would be to rent the apartment out until the market improves.
The current estimated value is more than 20% below what I paid in 2020, which is pretty disheartening.
For those who follow the Auckland apartment market or own apartments themselves, how long do you think it could take before values recover? Are we talking 3–5 years, longer, or is it impossible to say?
I’d prefer not to sell for less than I paid, so I’m interested in hearing how others would approach this situation.
EDIT: Maybe i should just be prepared to hold onto it for another 10years or so (the mortgage will be paid off by then)