New Zealand has some of the cheapest holiday homes in the world, with the average price of a holiday home in the country set at $1.6 million.
The average annual rental for a holiday cottage is $1,000,000 in New Zealand, while the average rental for an apartment is $2,000 a month, according to real estate agent and author Maketu.
That means that for the average Auckland holiday home, a home can cost as little as $2.2 million in real estate alone.
The Kiwis have also had a rough go of it with the price of housing in Auckland falling from its peak of $847 per square foot in the late 1990s to $460 per square feet in 2015.
But with the economy in recovery and demand for holiday homes hitting record levels, the price is back up again.
The latest report from the National Mortgage and Housing Agency shows Auckland has been one of the most expensive places in the nation to buy a holiday house in the past year.
A total of 4,922 holiday homes were sold last year, a decrease of 1.5 per cent from the previous year, with just under 2,000 being sold in Auckland alone.
Of those, 1,074 were for $1 million or more, while another 1,100 were for more than $1million.
The report also found that Auckland home prices were up 5.1 per cent last year compared to 2015, but that Auckland homes have also been on a tear since the beginning of this year.
It said that in the last three months of last year the average monthly rental price for Auckland was $1m, while Auckland home buyers paid an average of $1 for the same time last year.
With Auckland holiday homes becoming more affordable, it could be a trend for Auckland as demand for new holiday homes grows.