Miramar

Miramar is the unlikely home of a global film industry. On this eastern Wellington peninsula, within a few blocks of one another, sit Weta Workshop, Wētā FX, Stone Street Studios and Park Road Post, the engine room of Sir Peter Jackson's productions and a magnet for international filmmakers. The Roxy Cinema, restored by Weta founders, anchors the village. Around it the peninsula offers swimming beaches, a scenic coastal loop and lookouts over the harbour and airport runway. For investors, Miramar offers lifestyle-driven demand and some of Wellington's more resilient yields, around 4%, helped by limited supply and the film cluster. The overhang is city-wide: Wellington's heavy reliance on government employment has driven a downturn as public-service roles were cut. Overseas buyers must also reckon with New Zealand's 2018 foreign-buyer ban on existing homes, which leaves new-build stock as the route in without an OIO exception.

Miramar in Wellington, Wellington Region, New Zealand