I dont think its right. People who bought houses for 1.7 million in auckland, is currently valued with a market price of 1.3 million and the interest rate keep fluctuating. Monthly emi is around 6000nzd. How is that profitable?
Best decision if you decide to live in Nz for the rest of your life. The median price here in auckland is already 1 million and tends to double every ten years.